Netflix (NFLX) Price Target Raised to $440.00

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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.

About Netflix

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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