Netflix (NASDAQ:NFLX) had its price target lowered by JPMorgan Chase & Co. from $450.00 to $425.00 in a research report sent to investors on Thursday, The Fly reports. The firm currently has an overweight rating on the Internet television network’s stock.
A number of other equities analysts also recently issued reports on NFLX. Credit Suisse Group reissued a buy rating and issued a $90.00 price target on shares of Bayerische Motoren Werke in a research note on Thursday. Pivotal Research reissued a buy rating and issued a $515.00 price target (up from $500.00) on shares of Netflix in a research note on Wednesday, July 17th. Royal Bank of Canada reissued a neutral rating and issued a $145.00 price target on shares of Travelers Companies in a research note on Thursday, April 18th. ValuEngine downgraded shares of Zuora from a buy rating to a hold rating in a research note on Saturday, June 1st. Finally, Oppenheimer set a $119.00 price target on shares of American Express and gave the stock a buy rating in a research note on Wednesday, April 17th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $390.47.
Netflix stock opened at $315.10 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.61 and a debt-to-equity ratio of 2.06. The business’s 50-day moving average price is $361.42. The stock has a market capitalization of $137.77 billion, a price-to-earnings ratio of 117.57, a P/E/G ratio of 3.19 and a beta of 1.26. Netflix has a 1-year low of $231.23 and a 1-year high of $386.80.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.04. Netflix had a net margin of 6.53% and a return on equity of 20.88%. The company had revenue of $4.92 billion during the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. Netflix’s revenue was up 26.0% on a year-over-year basis. Sell-side analysts anticipate that Netflix will post 3.28 earnings per share for the current year.
In other news, CEO Reed Hastings sold 57,414 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $348.88, for a total transaction of $20,030,596.32. Following the sale, the chief executive officer now owns 57,414 shares in the company, valued at $20,030,596.32. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Ann Mather sold 1,208 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $375.00, for a total transaction of $453,000.00. Following the sale, the director now owns 357 shares in the company, valued at approximately $133,875. The disclosure for this sale can be found here. Insiders have sold 110,520 shares of company stock valued at $39,835,842 in the last ninety days. Insiders own 4.29% of the company’s stock.
Large investors have recently bought and sold shares of the company. Clarfeld Financial Advisors LLC purchased a new stake in shares of Netflix during the fourth quarter valued at approximately $27,000. TCG Advisors LP purchased a new stake in shares of Netflix during the first quarter valued at approximately $36,000. Joseph P. Lucia & Associates LLC purchased a new stake in shares of Netflix during the first quarter valued at approximately $44,000. SevenBridge Financial Group LLC grew its holdings in shares of Netflix by 66.7% during the second quarter. SevenBridge Financial Group LLC now owns 125 shares of the Internet television network’s stock valued at $46,000 after buying an additional 50 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC grew its holdings in shares of Netflix by 182.0% during the first quarter. Thompson Siegel & Walmsley LLC now owns 141 shares of the Internet television network’s stock valued at $50,000 after buying an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 77.02% of the company’s stock.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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