Netflix (NFLX) PT Lowered to $0.00 at Citigroup

Netflix (NASDAQ:NFLX) had its price target cut by Citigroup in a report released on Monday. They currently have a neutral rating on the Internet television network’s stock.

A number of other analysts have also commented on NFLX. Pivotal Research boosted their target price on Netflix from $420.00 to $500.00 and gave the company a buy rating in a research report on Thursday, June 21st. Piper Jaffray Companies boosted their target price on Netflix from $367.00 to $420.00 and gave the company an overweight rating in a research report on Tuesday, June 19th. JPMorgan Chase & Co. reaffirmed a buy rating and issued a $415.00 target price on shares of Netflix in a research report on Friday, October 12th. Monness Crespi & Hardt decreased their target price on Netflix from $460.00 to $430.00 and set a buy rating for the company in a research report on Tuesday, July 17th. Finally, Sanford C. Bernstein reaffirmed a buy rating and issued a $434.00 target price on shares of Netflix in a research report on Tuesday, July 17th. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirty-one have assigned a buy rating to the company’s stock. Netflix presently has an average rating of Buy and a consensus target price of $376.83.

Shares of NASDAQ:NFLX opened at $355.00 on Monday. The stock has a market capitalization of $158.81 billion, a PE ratio of 279.70, a price-to-earnings-growth ratio of 4.66 and a beta of 0.89. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.54 and a current ratio of 1.39. Netflix has a 1 year low of $178.38 and a 1 year high of $423.21.



Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.21. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.99 billion. Netflix had a return on equity of 29.52% and a net margin of 8.48%. The firm’s revenue was up 34.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 EPS. On average, equities research analysts forecast that Netflix will post 2.61 EPS for the current fiscal year.

In other news, CFO David B. Wells sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $376.61, for a total value of $376,610.00. Following the completion of the transaction, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at $376,610. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Reed Hastings sold 75,656 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The shares were sold at an average price of $359.64, for a total value of $27,208,923.84. Following the completion of the transaction, the chief executive officer now directly owns 75,656 shares of the company’s stock, valued at $27,208,923.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 403,334 shares of company stock valued at $142,463,785. 4.29% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in NFLX. CSat Investment Advisory L.P. bought a new position in shares of Netflix in the second quarter valued at approximately $117,000. Guidant Wealth Advisors grew its holdings in shares of Netflix by 190.5% in the second quarter. Guidant Wealth Advisors now owns 305 shares of the Internet television network’s stock valued at $121,000 after acquiring an additional 200 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of Netflix in the second quarter valued at approximately $124,000. BerganKDV Wealth Management LLC bought a new position in shares of Netflix in the second quarter valued at approximately $137,000. Finally, WealthTrust Fairport LLC lifted its stake in Netflix by 133.3% in the second quarter. WealthTrust Fairport LLC now owns 350 shares of the Internet television network’s stock valued at $137,000 after purchasing an additional 200 shares during the last quarter. 73.83% of the stock is owned by institutional investors.

About Netflix

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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