Goldman Sachs Group Cuts Netflix (NASDAQ:NFLX) Price Target to $420.00

Netflix (NASDAQ:NFLX) had its price target reduced by Goldman Sachs Group from $460.00 to $420.00 in a research report sent to investors on Thursday, The Fly reports.

A number of other equities analysts also recently commented on NFLX. ValuEngine downgraded shares of Zuora from a buy rating to a hold rating in a research note on Saturday, June 1st. SunTrust Banks reaffirmed a buy rating on shares of Netflix in a research note on Friday, April 12th. Rosenblatt Securities reaffirmed a neutral rating and set a $370.00 target price (up from $350.00) on shares of Netflix in a research note on Wednesday, July 10th. Stifel Nicolaus reaffirmed a buy rating and set a $400.00 target price on shares of Netflix in a research note on Monday, April 8th. Finally, Evercore ISI reiterated an outperform rating and set a $380.00 price target (up from $350.00) on shares of Netflix in a research report on Wednesday, July 10th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Netflix has an average rating of Buy and an average price target of $390.47.

Shares of NFLX stock opened at $315.10 on Thursday. The company has a quick ratio of 0.61, a current ratio of 0.85 and a debt-to-equity ratio of 2.06. The stock’s 50-day moving average price is $361.42. Netflix has a 12 month low of $231.23 and a 12 month high of $386.80. The stock has a market capitalization of $137.77 billion, a P/E ratio of 117.57, a PEG ratio of 3.19 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last issued its earnings results on Wednesday, July 17th. The Internet television network reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.04. Netflix had a net margin of 6.53% and a return on equity of 20.88%. The company had revenue of $4.92 billion for the quarter, compared to the consensus estimate of $4.93 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. Netflix’s quarterly revenue was up 26.0% compared to the same quarter last year. As a group, analysts anticipate that Netflix will post 3.28 earnings per share for the current fiscal year.

In related news, CEO Reed Hastings sold 57,414 shares of Netflix stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $348.88, for a total value of $20,030,596.32. Following the completion of the transaction, the chief executive officer now owns 57,414 shares in the company, valued at $20,030,596.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 1,208 shares of Netflix stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $375.00, for a total transaction of $453,000.00. Following the completion of the transaction, the director now owns 357 shares of the company’s stock, valued at approximately $133,875. The disclosure for this sale can be found here. Insiders sold 167,486 shares of company stock valued at $60,955,416 in the last 90 days. Company insiders own 4.29% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. TCG Advisors LP purchased a new position in Netflix in the first quarter worth approximately $36,000. Clarfeld Financial Advisors LLC purchased a new position in Netflix in the fourth quarter worth approximately $27,000. SevenBridge Financial Group LLC lifted its stake in Netflix by 66.7% in the second quarter. SevenBridge Financial Group LLC now owns 125 shares of the Internet television network’s stock worth $46,000 after acquiring an additional 50 shares during the last quarter. Thompson Siegel & Walmsley LLC lifted its stake in Netflix by 182.0% in the first quarter. Thompson Siegel & Walmsley LLC now owns 141 shares of the Internet television network’s stock worth $50,000 after acquiring an additional 91 shares during the last quarter. Finally, Osborn Williams & Donohoe LLC purchased a new position in Netflix in the first quarter worth approximately $55,000. Hedge funds and other institutional investors own 77.02% 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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