Netflix (NASDAQ:NFLX) had its price target upped by stock analysts at Royal Bank of Canada to $440.00 in a research report issued on Thursday, The Fly reports. The firm currently has an “outperform” rating on the Internet television network’s stock. Royal Bank of Canada’s price target points to a potential upside of 26.15% from the stock’s previous close.
A number of other equities analysts have also issued reports on NFLX. ValuEngine lowered shares of Netflix from a “buy” rating to a “hold” rating in a research report on Thursday. 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 increased their price objective on shares of Netflix from $367.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, June 19th. Robert W. Baird set a $370.00 price objective on shares of Netflix and gave the company a “neutral” rating in a report on Tuesday. Finally, Monness Crespi & Hardt cut their price objective on shares of Netflix from $460.00 to $430.00 and set a “buy” rating on the stock in a report on Tuesday, July 17th. Five equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirty have assigned a buy rating to the company. Netflix currently has a consensus rating of “Hold” and a consensus target price of $349.29.
Shares of NFLX stock opened at $348.79 on Thursday. Netflix has a 1 year low of $173.73 and a 1 year high of $423.21. The company has a market cap of $160.11 billion, a PE ratio of 279.03, a P/E/G ratio of 4.59 and a beta of 0.90. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.86.
Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, July 16th. The Internet television network reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.05. Netflix had a net margin of 7.13% and a return on equity of 25.66%. The company had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same period in the prior year, the business earned $0.15 earnings per share. Netflix’s quarterly revenue was up 40.3% on a year-over-year basis. research analysts predict that Netflix will post 2.67 EPS for the current year.
In other news, General Counsel David A. Hyman sold 38,976 shares of the stock in a transaction on Thursday, July 19th. The shares were sold at an average price of $371.20, for a total transaction of $14,467,891.20. Following the completion of the sale, the general counsel now owns 43,895 shares of the company’s stock, valued at $16,293,824. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leslie J. Kilgore sold 472 shares of the stock in a transaction on Tuesday, June 19th. The stock was sold at an average price of $401.00, for a total transaction of $189,272.00. Following the sale, the director now directly owns 35,668 shares of the company’s stock, valued at approximately $14,302,868. The disclosure for this sale can be found here. Insiders have sold 413,130 shares of company stock valued at $151,219,888 in the last three months. 4.29% of the stock is owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. TPG Group Holdings SBS Advisors Inc. grew its position in Netflix by 3.9% in the second quarter. TPG Group Holdings SBS Advisors Inc. now owns 21,201 shares of the Internet television network’s stock valued at $8,299,000 after purchasing an additional 790 shares in the last quarter. Sturgeon Ventures LLP grew its position in Netflix by 37.3% in the second quarter. Sturgeon Ventures LLP now owns 17,267 shares of the Internet television network’s stock valued at $6,756,000 after purchasing an additional 4,688 shares in the last quarter. WealthTrust Fairport LLC grew its position in Netflix by 133.3% in the second quarter. WealthTrust Fairport LLC now owns 350 shares of the Internet television network’s stock valued at $137,000 after purchasing an additional 200 shares in the last quarter. HM Payson & Co. grew its position in Netflix by 305.7% in the second quarter. HM Payson & Co. now owns 2,828 shares of the Internet television network’s stock valued at $1,107,000 after purchasing an additional 2,131 shares in the last quarter. Finally, BDO Wealth Advisors LLC bought a new position in Netflix in the second quarter valued at $264,000. 73.76% of the stock is owned by institutional investors and hedge funds.
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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