Netflix (NFLX) PT Set at $370.00 by Nomura

Netflix (NASDAQ:NFLX) has been given a $370.00 price target by stock analysts at Nomura in a research note issued on Monday. The brokerage currently has a “neutral” rating on the Internet television network’s stock. Nomura’s price objective points to a potential upside of 29.46% from the company’s current price.

Several other brokerages have also recently commented on NFLX. UBS Group cut Netflix from a “buy” rating to a “neutral” rating and reduced their target price for the company from $425.00 to $237.00 in a report on Wednesday, July 11th. Royal Bank of Canada boosted their price target on Netflix to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, October 17th. Goldman Sachs Group reissued a “$375.13” rating and issued a $470.00 price target on shares of Netflix in a research note on Wednesday, July 18th. Atlantic Securities reissued a “buy” rating and issued a $413.00 price target on shares of Netflix in a research note on Monday, September 3rd. Finally, SunTrust Banks boosted their price target on Netflix from $270.00 to $415.00 and gave the company a “hold” rating in a research note on Friday, July 13th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirty have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $377.41.

Shares of NFLX stock opened at $285.81 on Monday. Netflix has a one year low of $178.38 and a one year high of $423.21. The company has a market capitalization of $130.75 billion, a P/E ratio of 228.65, a P/E/G ratio of 3.80 and a beta of 0.89. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.66.



Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, October 16th. The Internet television network reported $0.89 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.21. Netflix had a return on equity of 29.52% and a net margin of 8.48%. The business had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the prior year, the business posted $0.29 earnings per share. The firm’s revenue was up 34.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Netflix will post 2.63 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 29th. The stock was sold at an average price of $305.70, for a total transaction of $305,700.00. Following the transaction, the chief financial officer now directly owns 380 shares of the company’s stock, valued at $116,166. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Reed Hastings sold 105,868 shares of the company’s stock in a transaction that occurred on Monday, October 22nd. The stock was sold at an average price of $328.75, for a total value of $34,804,105.00. Following the transaction, the chief executive officer now directly owns 105,868 shares in the company, valued at $34,804,105. The disclosure for this sale can be found here. Insiders have sold 322,155 shares of company stock worth $109,863,328 over the last ninety days. 4.29% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Financial Counselors Inc. raised its position in Netflix by 109.0% in the 3rd quarter. Financial Counselors Inc. now owns 10,480 shares of the Internet television network’s stock valued at $3,921,000 after buying an additional 5,465 shares during the last quarter. Lyell Wealth Management LP raised its position in Netflix by 35.1% in the 3rd quarter. Lyell Wealth Management LP now owns 2,503 shares of the Internet television network’s stock valued at $936,000 after buying an additional 650 shares during the last quarter. Dubuque Bank & Trust Co. raised its position in Netflix by 11,011.1% in the 3rd quarter. Dubuque Bank & Trust Co. now owns 1,000 shares of the Internet television network’s stock valued at $374,000 after buying an additional 991 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in Netflix by 1.6% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 133,338 shares of the Internet television network’s stock valued at $49,886,000 after buying an additional 2,062 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV raised its position in Netflix by 2.4% in the 3rd quarter. Nissay Asset Management Corp Japan ADV now owns 50,516 shares of the Internet television network’s stock valued at $18,900,000 after buying an additional 1,189 shares during the last quarter. 74.05% of the stock is owned by institutional investors and hedge funds.

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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