Netflix (NFLX) PT Set at $388.00 by Macquarie

Netflix (NASDAQ:NFLX) has been assigned a $388.00 price objective by stock analysts at Macquarie in a report released on Wednesday. The brokerage presently has a “buy” rating on the Internet television network’s stock. Macquarie’s target price suggests a potential upside of 3.03% from the company’s previous close.

NFLX has been the subject of a number of other research reports. Societe Generale restated a “sell” rating and issued a $180.00 price target on shares of Netflix in a research note on Friday, July 6th. Oppenheimer reaffirmed a “buy” rating and issued a $370.00 price objective on shares of Netflix in a report on Thursday, June 14th. SunTrust Banks lifted their price objective on shares of Netflix from $270.00 to $415.00 and gave the stock a “hold” rating in a report on Friday, July 13th. Stifel Nicolaus raised shares of Netflix from a “hold” rating to a “buy” rating and set a $406.00 price objective for the company in a report on Tuesday, July 17th. Finally, Monness Crespi & Hardt lifted their price objective on shares of Netflix from $375.00 to $460.00 and gave the stock a “buy” rating in a report on Tuesday, June 19th. Five analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty-two have given a buy rating to the stock. Netflix has an average rating of “Buy” and an average price target of $355.69.

Shares of NASDAQ:NFLX traded up $7.17 during midday trading on Wednesday, reaching $376.60. The company had a trading volume of 111,508 shares, compared to its average volume of 8,602,865. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.86. The firm has a market cap of $160.95 billion, a PE ratio of 299.44, a price-to-earnings-growth ratio of 4.62 and a beta of 0.90. Netflix has a one year low of $176.55 and a one year high of $423.21.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 16th. The Internet television network reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.05. The business had revenue of $3.91 billion during the quarter, compared to analyst estimates of $3.94 billion. Netflix had a net margin of 7.13% and a return on equity of 25.66%. The business’s revenue was up 40.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 earnings per share. equities research analysts forecast that Netflix will post 2.67 EPS for the current fiscal year.

In related news, CEO Reed Hastings sold 75,656 shares of the company’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $359.64, for a total value of $27,208,923.84. Following the completion of the sale, the chief executive officer now owns 75,656 shares of the company’s stock, valued at $27,208,923.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Theodore A. Sarandos sold 111,391 shares of the company’s stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $360.00, for a total transaction of $40,100,760.00. Following the completion of the sale, the insider now directly owns 16,065 shares of the company’s stock, valued at approximately $5,783,400. The disclosure for this sale can be found here. Insiders sold 319,195 shares of company stock valued at $112,492,438 in the last ninety days. Corporate insiders own 4.29% of the company’s stock.

A number of hedge funds have recently bought and sold shares of NFLX. Financial Gravity Wealth Inc. bought a new stake in Netflix in the first quarter worth about $326,000. Gamco Investors INC. ET AL raised its position in Netflix by 5.5% in the first quarter. Gamco Investors INC. ET AL now owns 3,439 shares of the Internet television network’s stock worth $1,016,000 after acquiring an additional 179 shares in the last quarter. Brinker Capital Inc. raised its position in Netflix by 20.2% in the first quarter. Brinker Capital Inc. now owns 4,071 shares of the Internet television network’s stock worth $1,202,000 after acquiring an additional 685 shares in the last quarter. Franklin Resources Inc. raised its position in Netflix by 122.2% in the first quarter. Franklin Resources Inc. now owns 496,999 shares of the Internet television network’s stock worth $146,791,000 after acquiring an additional 273,290 shares in the last quarter. Finally, Evergreen Capital Management LLC bought a new stake in Netflix in the first quarter worth about $219,000. 73.72% 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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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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