Netflix (NASDAQ:NFLX) had its target price reduced by Sanford C. Bernstein from $450.00 to $422.00 in a research report released on Thursday, The Fly reports. Sanford C. Bernstein currently has an outperform rating on the Internet television network’s stock.
NFLX has been the topic of several other reports. Nomura decreased their target price on shares of Netflix from $320.00 to $310.00 and set a neutral rating on the stock in a research report on Thursday, July 18th. Evercore ISI decreased their target price on shares of Netflix from $380.00 to $300.00 and set an in-line rating on the stock in a research report on Monday, October 7th. Wolfe Research initiated coverage on shares of Netflix in a research report on Thursday, June 20th. They set an outperform rating and a $442.00 target price on the stock. Aegis decreased their target price on shares of Netflix from $310.00 to $275.00 and set a hold rating on the stock in a research report on Tuesday, October 8th. Finally, Rosenblatt Securities decreased their target price on shares of Netflix from $330.00 to $265.00 and set a neutral rating on the stock in a research report on Wednesday, October 9th. Six research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Netflix currently has an average rating of Hold and an average price target of $363.11.
NASDAQ:NFLX opened at $275.30 on Thursday. The firm’s fifty day moving average price is $280.59 and its 200 day moving average price is $331.30. Netflix has a 1-year low of $231.23 and a 1-year high of $385.99. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.73 and a quick ratio of 0.85. The firm has a market cap of $120.53 billion, a price-to-earnings ratio of 102.72, a price-to-earnings-growth ratio of 3.02 and a beta of 1.20.
Netflix (NASDAQ:NFLX) last issued its earnings results on Wednesday, October 16th. The Internet television network reported $1.47 EPS for the quarter, topping the consensus estimate of $1.05 by $0.42. The company had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.25 billion. Netflix had a net margin of 7.49% and a return on equity of 23.65%. The business’s revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 EPS. As a group, analysts expect that Netflix will post 3.32 earnings per share for the current fiscal year.
In other news, CEO Reed Hastings sold 43,372 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $266.57, for a total transaction of $11,561,674.04. Following the completion of the sale, the chief executive officer now owns 43,372 shares in the company, valued at approximately $11,561,674.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bradford L. Smith bought 6,499 shares of the firm’s stock in a transaction dated Thursday, August 8th. The shares were purchased at an average price of $308.49 per share, with a total value of $2,004,876.51. Following the acquisition, the director now directly owns 799 shares in the company, valued at approximately $246,483.51. The disclosure for this purchase can be found here. Corporate insiders own 3.72% of the company’s stock.
Several large investors have recently modified their holdings of NFLX. Nuveen Asset Management LLC purchased a new stake in shares of Netflix during the 2nd quarter worth about $1,246,724,000. Invesco Ltd. grew its holdings in shares of Netflix by 39.1% during the 2nd quarter. Invesco Ltd. now owns 7,249,377 shares of the Internet television network’s stock worth $2,662,841,000 after purchasing an additional 2,039,046 shares during the period. Vanguard Group Inc. grew its holdings in shares of Netflix by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 32,688,805 shares of the Internet television network’s stock worth $12,007,252,000 after purchasing an additional 1,118,349 shares during the period. Thoroughbred Financial Services LLC grew its holdings in shares of Netflix by 36,563.5% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 786,432 shares of the Internet television network’s stock worth $78,643,000 after purchasing an additional 784,287 shares during the period. Finally, OZ Management LP purchased a new stake in shares of Netflix during the 2nd quarter worth about $228,716,000. Institutional investors and hedge funds own 78.93% of the company’s stock.
Netflix Company Profile
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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