Sanford C. Bernstein Trims Netflix (NASDAQ:NFLX) Target Price to $422.00

Netflix (NASDAQ:NFLX) had its target price dropped by equities research analysts at Sanford C. Bernstein from $450.00 to $422.00 in a research note issued on Thursday, The Fly reports. Sanford C. Bernstein’s price objective indicates a potential upside of 47.41% from the stock’s current price.

A number of other equities analysts also recently issued reports on the stock. Loop Capital set a $425.00 price target on shares of Netflix and gave the company a “buy” rating in a report on Monday, September 23rd. Monness Crespi & Hardt cut their price target on shares of Netflix from $440.00 to $340.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. set a $425.00 price target on shares of Netflix and gave the company a “buy” rating in a report on Thursday. Pivotal Research cut their price target on shares of Netflix from $515.00 to $350.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, Royal Bank of Canada set a $450.00 price target on shares of Netflix and gave the company a “buy” rating in a report on Monday. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Netflix currently has a consensus rating of “Buy” and a consensus target price of $367.95.

Shares of NFLX opened at $286.28 on Thursday. The company has a 50-day simple moving average of $280.78 and a 200-day simple moving average of $332.02. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.06. The company has a market capitalization of $125.01 billion, a PE ratio of 106.82, a P/E/G ratio of 2.94 and a beta of 1.20. Netflix has a 52-week low of $231.23 and a 52-week high of $385.99.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Wednesday, October 16th. The Internet television network reported $1.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.43. The business had revenue of $5.25 billion during the quarter, compared to the consensus estimate of $5.25 billion. Netflix had a net margin of 6.53% and a return on equity of 20.88%. The business’s revenue was up 31.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.89 EPS. On average, research analysts anticipate that Netflix will post 3.23 EPS for the current year.

In other news, CEO Reed Hastings sold 43,372 shares of Netflix stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $266.57, for a total transaction of $11,561,674.04. Following the completion of the sale, the chief executive officer now directly owns 43,372 shares in the company, valued at $11,561,674.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bradford L. Smith bought 6,499 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average cost of $308.49 per share, for a total transaction of $2,004,876.51. Following the completion of the transaction, the director now directly owns 799 shares of the company’s stock, valued at approximately $246,483.51. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 150,983 shares of company stock valued at $44,378,164. Insiders own 4.29% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hartford Investment Management Co. boosted its position in shares of Netflix by 0.8% in the second quarter. Hartford Investment Management Co. now owns 53,204 shares of the Internet television network’s stock worth $19,543,000 after acquiring an additional 447 shares during the last quarter. Bailard Inc. boosted its position in shares of Netflix by 14.6% in the second quarter. Bailard Inc. now owns 787 shares of the Internet television network’s stock worth $289,000 after acquiring an additional 100 shares during the last quarter. NumerixS Investment Technologies Inc acquired a new stake in shares of Netflix in the second quarter worth approximately $4,353,000. Gryphon Financial Partners LLC acquired a new stake in shares of Netflix in the second quarter worth approximately $372,000. Finally, Dearborn Partners LLC boosted its position in shares of Netflix by 10.4% in the second quarter. Dearborn Partners LLC now owns 1,106 shares of the Internet television network’s stock worth $406,000 after acquiring an additional 104 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading: Equal Weight Rating

The Fly

Analyst Recommendations for Netflix (NASDAQ:NFLX)

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.