Netflix (NFLX) Given New $440.00 Price Target at BMO Capital Markets

Netflix (NASDAQ:NFLX) had its price objective lifted by investment analysts at BMO Capital Markets from $400.00 to $440.00 in a research note issued to investors on Wednesday. The firm currently has an “outperform” rating on the Internet television network’s stock. BMO Capital Markets’ target price indicates a potential upside of 27.02% from the company’s current price.

Several other equities analysts have also recently weighed in on the company. Imperial Capital cut their price objective on Netflix from $503.00 to $494.00 and set an “outperform” rating for the company in a research report on Monday, August 13th. Canaccord Genuity boosted their price objective on Netflix from $350.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, July 12th. Citigroup boosted their price objective on Netflix to $375.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 12th. Guggenheim boosted their price objective on Netflix from $360.00 to $420.00 and gave the stock a “buy” rating in a research report on Wednesday, September 19th. Finally, Credit Suisse Group reissued a “buy” rating and set a $470.00 price objective on shares of Netflix in a research report on Monday, October 1st. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirty-two have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $360.35.

NASDAQ NFLX opened at $346.40 on Wednesday. Netflix has a twelve month low of $178.38 and a twelve month high of $423.21. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.86. The stock has a market cap of $162.92 billion, a P/E ratio of 277.12, a price-to-earnings-growth ratio of 4.67 and a beta of 0.89.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.21. Netflix had a return on equity of 25.66% and a net margin of 7.13%. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the firm earned $0.29 EPS. The firm’s revenue was up 34.0% compared to the same quarter last year. As a group, analysts expect that Netflix will post 2.67 EPS for the current year.

In related news, insider Theodore A. Sarandos sold 111,391 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 16,065 shares in the company, valued at approximately $5,783,400. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 350 shares of the stock in a transaction that occurred on Thursday, October 11th. The stock was sold at an average price of $324.94, for a total value of $113,729.00. Following the sale, the director now owns 7,314 shares in the company, valued at $2,376,611.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 420,428 shares of company stock worth $149,570,353. Corporate insiders own 4.29% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Berkeley Capital Partners LLC lifted its holdings in Netflix by 17.3% during the 2nd quarter. Berkeley Capital Partners LLC now owns 1,008 shares of the Internet television network’s stock worth $273,000 after buying an additional 149 shares in the last quarter. Capstone Financial Advisors Inc. lifted its holdings in Netflix by 17.8% during the 2nd quarter. Capstone Financial Advisors Inc. now owns 1,006 shares of the Internet television network’s stock worth $394,000 after buying an additional 152 shares in the last quarter. Cornerstone Advisors Inc. lifted its holdings in Netflix by 9.6% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,740 shares of the Internet television network’s stock worth $681,000 after buying an additional 153 shares in the last quarter. Cobblestone Capital Advisors LLC NY lifted its holdings in Netflix by 22.1% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 855 shares of the Internet television network’s stock worth $335,000 after buying an additional 155 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in Netflix by 30.6% during the 3rd quarter. Sound Income Strategies LLC now owns 675 shares of the Internet television network’s stock worth $253,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds own 73.76% of the company’s stock.

Netflix Company Profile

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.

Read More: Initial Public Offering (IPO)

Analyst Recommendations for Netflix (NASDAQ:NFLX)

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