SunTrust Banks Reiterates $270.00 Price Target for Netflix (NFLX)

SunTrust Banks set a $270.00 price target on Netflix (NASDAQ:NFLX) in a report issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has a hold rating on the Internet television network’s stock. SunTrust Banks also issued estimates for Netflix’s Q1 2018 earnings at $0.61 EPS, Q2 2018 earnings at $0.70 EPS, Q3 2018 earnings at $0.75 EPS and Q4 2018 earnings at $0.70 EPS.

Several other research analysts also recently weighed in on the company. MKM Partners upped their target price on Netflix from $245.00 to $320.00 and gave the stock a buy rating in a research note on Monday, January 29th. Wedbush set a $93.00 target price on Netflix and gave the stock a sell rating in a research note on Friday, January 19th. Bank of America upped their target price on Netflix from $225.00 to $199.00 and gave the stock a buy rating in a research note on Friday, December 1st. Goldman Sachs Group set a $315.00 target price on Netflix and gave the stock a buy rating in a research note on Friday, January 19th. Finally, Macquarie raised Netflix from a neutral rating to an outperform rating and upped their target price for the stock from $200.00 to $220.00 in a research note on Tuesday, January 2nd. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-four have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average price target of $239.39.

Netflix (NFLX) opened at $266.00 on Wednesday. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market capitalization of $112,075.85, a P/E ratio of 212.80, a PEG ratio of 3.61 and a beta of 1.04. Netflix has a 52 week low of $138.26 and a 52 week high of $286.81.

Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, January 22nd. The Internet television network reported $0.41 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.41. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.28 billion. Netflix had a return on equity of 17.20% and a net margin of 4.78%. The business’s quarterly revenue was up 32.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 EPS. research analysts anticipate that Netflix will post 2.69 earnings per share for the current year.

In related news, insider Theodore A. Sarandos sold 163,747 shares of the stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $262.91, for a total transaction of $43,050,723.77. Following the transaction, the insider now owns 23,953 shares of the company’s stock, valued at approximately $6,297,483.23. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director A George Battle sold 10,716 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $258.49, for a total value of $2,769,978.84. Following the transaction, the director now directly owns 2,575 shares in the company, valued at approximately $665,611.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 469,901 shares of company stock valued at $107,797,603. Company insiders own 4.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its stake in Netflix by 3.4% during the 4th quarter. Geode Capital Management LLC now owns 4,400,513 shares of the Internet television network’s stock worth $842,878,000 after acquiring an additional 143,321 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Netflix by 4.4% during the 4th quarter. Bank of New York Mellon Corp now owns 3,798,067 shares of the Internet television network’s stock worth $729,077,000 after acquiring an additional 159,750 shares in the last quarter. First Trust Advisors LP lifted its stake in Netflix by 9.7% during the 4th quarter. First Trust Advisors LP now owns 1,979,971 shares of the Internet television network’s stock worth $380,075,000 after acquiring an additional 174,630 shares in the last quarter. Wells Fargo & Company MN lifted its stake in Netflix by 22.5% during the 4th quarter. Wells Fargo & Company MN now owns 1,934,754 shares of the Internet television network’s stock worth $371,396,000 after acquiring an additional 354,801 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Netflix by 3.3% during the 3rd quarter. Legal & General Group Plc now owns 1,855,088 shares of the Internet television network’s stock worth $336,420,000 after acquiring an additional 58,691 shares in the last quarter. 82.38% of the stock is currently owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: This report was first posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this report on another publication, it was copied illegally and reposted in violation of U.S. & international copyright and trademark laws. The legal version of this report can be read at https://www.chaffeybreeze.com/2018/02/15/suntrust-banks-reiterates-270-00-price-target-for-netflix-nflx.html.

Netflix Company Profile

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

Analyst Recommendations for Netflix (NASDAQ:NFLX)

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply