Netflix (NASDAQ:NFLX) Price Target Cut to $310.00 by Analysts at Nomura

Netflix (NASDAQ:NFLX) had its target price cut by Nomura from $320.00 to $310.00 in a research note issued to investors on Thursday, The Fly reports. They currently have a neutral rating on the Internet television network’s stock.

Several other brokerages have also recently commented on NFLX. SunTrust Banks reissued a buy rating on shares of Netflix in a report on Friday, April 12th. JPMorgan Chase & Co. cut News from a neutral rating to an underweight rating in a report on Thursday. BidaskClub raised WhiteHorse Finance from a sell rating to a hold rating in a report on Thursday. Buckingham Research boosted their target price on United Continental from $109.00 to $111.00 and gave the stock a buy rating in a report on Wednesday, April 17th. Finally, Oppenheimer set a $119.00 target price on American Express and gave the stock a buy rating in a report on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $390.47.

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

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

In other news, Director Ann Mather sold 1,208 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 357 shares in the company, valued at approximately $133,875. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Reed Hastings sold 57,414 shares of the business’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $348.88, for a total transaction of $20,030,596.32. Following the transaction, the chief executive officer now owns 57,414 shares in the company, valued at $20,030,596.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,520 shares of company stock worth $39,835,842. 4.29% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Magnus Financial Group LLC boosted its holdings in Netflix by 3.2% in the first quarter. Magnus Financial Group LLC now owns 1,120 shares of the Internet television network’s stock worth $399,000 after purchasing an additional 35 shares in the last quarter. Bach Investment Advisors Ltd boosted its holdings in Netflix by 128.9% in the first quarter. Bach Investment Advisors Ltd now owns 1,224 shares of the Internet television network’s stock worth $436,000 after purchasing an additional 5,465 shares in the last quarter. Northern Trust Corp boosted its holdings in Netflix by 1.9% in the first quarter. Northern Trust Corp now owns 4,948,504 shares of the Internet television network’s stock worth $1,764,438,000 after purchasing an additional 90,312 shares in the last quarter. Telos Capital Management Inc. boosted its holdings in Netflix by 21.7% in the first quarter. Telos Capital Management Inc. now owns 1,236 shares of the Internet television network’s stock worth $441,000 after purchasing an additional 220 shares in the last quarter. Finally, Winslow Evans & Crocker Inc. boosted its holdings in Netflix by 58.1% in the first quarter. Winslow Evans & Crocker Inc. now owns 2,176 shares of the Internet television network’s stock worth $776,000 after purchasing an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 77.02% of the company’s stock.

About Netflix

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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