Netflix (NFLX) PT Raised to $430.00

Netflix (NASDAQ:NFLX) had its target price lifted by Piper Jaffray Companies from $420.00 to $430.00 in a report issued on Wednesday, The Fly reports. They currently have an overweight rating on the Internet television network’s stock. Piper Jaffray Companies also issued estimates for Netflix’s FY2018 earnings at $2.62 EPS, Q3 2019 earnings at $1.18 EPS, Q4 2019 earnings at $1.32 EPS and FY2020 earnings at $6.75 EPS.

NFLX has been the subject of several other reports. Cowen dropped their price target on Netflix from $430.00 to $400.00 and set an outperform rating for the company in a research report on Tuesday, July 17th. Goldman Sachs Group set a $470.00 price target on Netflix and gave the stock a buy rating in a research report on Tuesday, October 2nd. Sanford C. Bernstein set a $465.00 price target on Netflix and gave the stock a buy rating in a research report on Wednesday. Morgan Stanley set a $480.00 price target on Netflix and gave the stock a buy rating in a research report on Thursday, July 12th. Finally, ValuEngine lowered Netflix from a strong-buy rating to a buy rating in a research note on Wednesday, July 18th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $375.90.

Shares of NFLX opened at $364.70 on Wednesday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.54 and a quick ratio of 1.54. Netflix has a one year low of $178.38 and a one year high of $423.21. The company has a market cap of $162.92 billion, a P/E ratio of 291.76, a PEG ratio of 4.67 and a beta of 0.89.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, October 16th. The Internet television network reported $0.89 EPS for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the previous year, the business earned $0.29 earnings per share. The firm’s revenue for the quarter was up 34.0% on a year-over-year basis. As a group, equities analysts predict that Netflix will post 2.67 EPS for the current year.

In related news, insider Theodore A. Sarandos sold 111,391 shares of the business’s stock in a transaction on Monday, July 23rd. The stock was sold at an average price of $360.00, for a total value of $40,100,760.00. Following the sale, the insider now owns 16,065 shares in the company, valued at approximately $5,783,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO David B. Wells sold 1,000 shares of the business’s stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $359.00, for a total value of $359,000.00. Following the completion of the sale, the chief financial officer now owns 1,000 shares in the company, valued at approximately $359,000. The disclosure for this sale can be found here. In the last ninety days, insiders sold 381,452 shares of company stock worth $135,102,461. Corporate insiders own 4.29% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. HPM Partners LLC raised its holdings in shares of Netflix by 30.2% in the 2nd quarter. HPM Partners LLC now owns 3,896 shares of the Internet television network’s stock valued at $1,525,000 after buying an additional 904 shares during the period. Morgan Stanley raised its holdings in shares of Netflix by 1.6% in the 2nd quarter. Morgan Stanley now owns 2,364,657 shares of the Internet television network’s stock valued at $925,600,000 after buying an additional 37,425 shares during the period. Private Capital Group LLC raised its holdings in shares of Netflix by 33.1% in the 2nd quarter. Private Capital Group LLC now owns 744 shares of the Internet television network’s stock valued at $291,000 after buying an additional 185 shares during the period. Mackay Shields LLC raised its holdings in shares of Netflix by 3.0% in the 2nd quarter. Mackay Shields LLC now owns 169,338 shares of the Internet television network’s stock valued at $66,284,000 after buying an additional 4,917 shares during the period. Finally, Iron Financial LLC purchased a new stake in shares of Netflix in the 2nd quarter valued at $579,000. Hedge funds and other institutional investors 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.

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