Netflix (NFLX) Given a $388.00 Price Target by Macquarie Analysts

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Macquarie set a $388.00 price objective on Netflix (NASDAQ:NFLX) in a report released on Wednesday morning. The brokerage currently has a buy rating on the Internet television network’s stock.

NFLX has been the topic of a number of other reports. Monness Crespi & Hardt upped their target price on shares of Netflix from $350.00 to $375.00 and gave the stock a buy rating in a research report on Tuesday, April 17th. Pivotal Research upped their target price on shares of Netflix from $420.00 to $500.00 and gave the stock a buy rating in a research report on Thursday, June 21st. Piper Jaffray Companies upped their target price on shares of Netflix from $367.00 to $420.00 and gave the stock an overweight rating in a research report on Tuesday, June 19th. Sanford C. Bernstein upped their target price on shares of Netflix from $340.00 to $372.00 and gave the stock an outperform rating in a research report on Tuesday, April 17th. Finally, Credit Suisse Group upped their target price on shares of Netflix from $286.00 to $330.00 and gave the stock a neutral rating in a research report on Tuesday, April 17th. Five research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and thirty have assigned a buy rating to the company. Netflix has an average rating of Hold and a consensus price target of $346.99.

Shares of Netflix stock opened at $316.78 on Wednesday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.86. The firm has a market cap of $150.61 billion, a price-to-earnings ratio of 253.42, a P/E/G ratio of 4.28 and a beta of 0.76. Netflix has a 12-month low of $164.23 and a 12-month high of $423.21.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, July 16th. The Internet television network reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.05. The business had revenue of $3.91 billion for the quarter, compared to the consensus estimate of $3.94 billion. Netflix had a net margin of 7.13% and a return on equity of 25.66%. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 EPS. analysts forecast that Netflix will post 2.69 earnings per share for the current year.

In other Netflix news, Director Richard N. Barton sold 700 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $340.77, for a total transaction of $238,539.00. Following the transaction, the director now owns 7,393 shares in the company, valued at approximately $2,519,312.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David B. Wells sold 1,000 shares of the company’s stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $327.11, for a total transaction of $327,110.00. Following the transaction, the chief financial officer now owns 1,000 shares in the company, valued at approximately $327,110. The disclosure for this sale can be found here. In the last quarter, insiders sold 434,727 shares of company stock worth $159,153,534. 4.29% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GHP Investment Advisors Inc. bought a new position in Netflix during the 2nd quarter valued at about $789,000. Schroder Investment Management Group lifted its stake in Netflix by 4.0% during the 2nd quarter. Schroder Investment Management Group now owns 297,887 shares of the Internet television network’s stock valued at $117,790,000 after acquiring an additional 11,586 shares during the period. Global X Management Co LLC lifted its stake in Netflix by 43.2% during the 2nd quarter. Global X Management Co LLC now owns 12,879 shares of the Internet television network’s stock valued at $5,041,000 after acquiring an additional 3,887 shares during the period. Amussen Hunsaker Associates LLC bought a new position in Netflix during the 2nd quarter valued at about $200,000. Finally, MAI Capital Management lifted its stake in Netflix by 5.2% during the 2nd quarter. MAI Capital Management now owns 9,960 shares of the Internet television network’s stock valued at $3,899,000 after acquiring an additional 496 shares during the period. Institutional investors and hedge funds own 76.28% of the company’s stock.

Netflix Company Profile

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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