Netflix (NASDAQ:NFLX) had its price objective boosted by Guggenheim from $285.00 to $360.00 in a research note issued to investors on Wednesday. Guggenheim currently has a buy rating on the Internet television network’s stock.
Several other brokerages have also recently weighed in on NFLX. Morgan Stanley reiterated an overweight rating and issued a $255.00 price objective (up previously from $235.00) on shares of Netflix in a research note on Thursday, January 18th. SunTrust Banks set a $270.00 price objective on shares of Netflix and gave the stock a hold rating in a research note on Wednesday, February 14th. Loop Capital reiterated a buy rating and issued a $237.00 price objective on shares of Netflix in a research note on Wednesday, December 6th. Canaccord Genuity reiterated a buy rating and issued a $280.00 price objective (up previously from $225.00) on shares of Netflix in a research note on Tuesday, January 23rd. Finally, Wells Fargo & Co restated an outperform rating and issued a $250.00 target price (up from $230.00) on shares of Netflix in a research report on Monday, January 8th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-three have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and an average target price of $247.49.
Netflix (NASDAQ NFLX) traded down $1.75 during trading on Wednesday, reaching $319.80. 1,036,917 shares of the company were exchanged, compared to its average volume of 11,231,458. The company has a market capitalization of $137,075.63, a P/E ratio of 257.24, a P/E/G ratio of 4.34 and a beta of 0.96. Netflix has a 1-year low of $138.66 and a 1-year high of $333.98. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 1.81.
Netflix (NASDAQ:NFLX) last released its earnings results on Monday, January 22nd. The Internet television network reported $0.41 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.41. Netflix had a net margin of 4.78% and a return on equity of 17.20%. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter last year, the firm earned $0.15 earnings per share. The firm’s revenue for the quarter was up 32.6% compared to the same quarter last year. analysts predict that Netflix will post 2.73 earnings per share for the current fiscal year.
In other Netflix news, CEO Reed Hastings sold 91,861 shares of the stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $189.03, for a total transaction of $17,364,484.83. Following the completion of the transaction, the chief executive officer now owns 91,861 shares in the company, valued at $17,364,484.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard N. Barton sold 700 shares of the stock in a transaction dated Friday, March 9th. The stock was sold at an average price of $321.85, for a total transaction of $225,295.00. Following the transaction, the director now owns 7,353 shares of the company’s stock, valued at approximately $2,366,563.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 473,489 shares of company stock valued at $116,251,464. 4.90% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Navellier & Associates Inc lifted its holdings in shares of Netflix by 8.4% in the fourth quarter. Navellier & Associates Inc now owns 3,991 shares of the Internet television network’s stock worth $766,000 after buying an additional 309 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of Netflix by 1,148.5% in the fourth quarter. Assetmark Inc. now owns 14,395 shares of the Internet television network’s stock worth $2,763,000 after buying an additional 13,242 shares in the last quarter. Arthur M. Cohen & Associates LLC purchased a new stake in shares of Netflix in the fourth quarter worth about $1,082,000. ARK Investment Management LLC lifted its holdings in shares of Netflix by 47.0% in the fourth quarter. ARK Investment Management LLC now owns 139,238 shares of the Internet television network’s stock worth $26,728,000 after buying an additional 44,542 shares in the last quarter. Finally, Elite Wealth Management Inc. purchased a new stake in shares of Netflix in the fourth quarter worth about $897,000. 81.64% of the stock is currently owned by hedge funds and other institutional investors.
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Netflix Company Profile
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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