Netflix (NASDAQ:NFLX) had its price objective raised by Wedbush from $183.00 to $188.00 in a report published on Thursday, The Fly reports. They currently have an underperform rating on the Internet television network’s stock. Wedbush also issued estimates for Netflix’s Q3 2019 earnings at $1.05 EPS, Q4 2019 earnings at $1.05 EPS, Q1 2020 earnings at $1.10 EPS, Q2 2020 earnings at $1.15 EPS and Q3 2020 earnings at $1.20 EPS.
Other equities research analysts have also issued reports about the company. Oppenheimer set a $119.00 target price on American Express and gave the stock a buy rating in a report on Wednesday, April 17th. Rosenblatt Securities restated a neutral rating and issued a $370.00 target price (up from $350.00) on shares of Netflix in a report on Wednesday, July 10th. Evercore ISI restated an outperform rating and issued a $380.00 target price (up from $350.00) on shares of Netflix in a report on Wednesday, July 10th. 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, Raymond James reduced their target price on SM Energy from $20.00 to $15.00 and set an outperform rating for the company in a report on Thursday. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $390.47.
Shares of Netflix stock opened at $315.10 on Thursday. The firm has a market cap of $137.77 billion, a price-to-earnings ratio of 117.57, a price-to-earnings-growth ratio of 3.19 and a beta of 1.26. The company has a current ratio of 0.85, a quick ratio of 0.61 and a debt-to-equity ratio of 2.06. Netflix has a 52-week low of $231.23 and a 52-week high of $386.80. The firm’s 50-day moving average price is $361.42.
In other news, CEO Reed Hastings sold 56,966 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $370.74, for a total transaction of $21,119,574.84. Following the sale, the chief executive officer now directly owns 56,966 shares in the company, valued at $21,119,574.84. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ann Mather sold 1,208 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $375.00, for a total value of $453,000.00. Following the sale, the director now owns 357 shares in the company, valued at $133,875. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,486 shares of company stock valued at $60,955,416. Corporate insiders own 4.29% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. TCG Advisors LP bought a new stake in shares of Netflix during the first quarter valued at approximately $36,000. Clarfeld Financial Advisors LLC bought a new stake in shares of Netflix during the fourth quarter valued at approximately $27,000. SevenBridge Financial Group LLC increased its position in shares of Netflix by 66.7% during the second quarter. SevenBridge Financial Group LLC now owns 125 shares of the Internet television network’s stock valued at $46,000 after purchasing an additional 50 shares during the period. Thompson Siegel & Walmsley LLC increased its position in shares of Netflix by 182.0% during the first quarter. Thompson Siegel & Walmsley LLC now owns 141 shares of the Internet television network’s stock valued at $50,000 after purchasing an additional 91 shares during the period. Finally, Osborn Williams & Donohoe LLC bought a new stake in shares of Netflix during the first quarter valued at approximately $55,000. Institutional investors and hedge funds own 77.02% of the company’s stock.
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: Cost of equity and a company’s balance sheet
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