Netflix (NASDAQ:NFLX) Price Target Cut to $420.00

Netflix (NASDAQ:NFLX) had its target price reduced by Royal Bank of Canada from $450.00 to $420.00 in a research report report published on Thursday morning, The Fly reports. They currently have an outperform rating on the Internet television network’s stock.

A number of other research analysts also recently issued reports on the stock. Robert W. Baird decreased their target price on shares of Netflix from $370.00 to $300.00 and set a neutral rating for the company in a research report on Thursday. Wedbush restated an underperform rating and set a $188.00 target price on shares of Netflix in a research report on Thursday. Needham & Company LLC reissued a hold rating on shares of Netflix in a report on Thursday, October 3rd. Citigroup decreased their price objective on Netflix from $420.00 to $410.00 and set a buy rating for the company in a report on Thursday, July 18th. Finally, Raymond James decreased their price objective on Netflix from $450.00 to $415.00 and set a strong-buy rating for the company in a report on Monday, October 14th. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and an average target price of $363.11.

Netflix stock opened at $273.72 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.73 and a debt-to-equity ratio of 1.81. Netflix has a 52 week low of $231.23 and a 52 week high of $385.99. The stock has a 50-day moving average price of $280.59 and a 200 day moving average price of $331.30. The company has a market capitalization of $119.57 billion, a price-to-earnings ratio of 102.13, a price-to-earnings-growth ratio of 3.02 and a beta of 1.20.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Wednesday, October 16th. The Internet television network reported $1.47 EPS for the quarter, beating the consensus estimate of $1.05 by $0.42. Netflix had a net margin of 7.49% and a return on equity of 23.65%. The business had revenue of $5.25 billion during the quarter, compared to analysts’ expectations of $5.25 billion. During the same period in the previous year, the business posted $0.89 EPS. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. Research analysts anticipate that Netflix will post 3.32 EPS for the current fiscal year.

In related news, Director Bradford L. Smith acquired 6,499 shares of Netflix stock in a transaction 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 owns 799 shares of the company’s stock, valued at approximately $246,483.51. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Reed Hastings sold 43,372 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $266.57, for a total transaction of $11,561,674.04. Following the transaction, the chief executive officer now owns 43,372 shares of the company’s stock, valued at $11,561,674.04. The disclosure for this sale can be found here. Corporate insiders own 3.72% of the company’s stock.

Large investors have recently bought and sold shares of the business. Marshall Wace LLP raised its position in shares of Netflix by 5,692.5% during the 1st quarter. Marshall Wace LLP now owns 5,387 shares of the Internet television network’s stock worth $1,921,000 after purchasing an additional 5,294 shares during the last quarter. Weaver Consulting Group acquired a new position in shares of Netflix during the first quarter valued at approximately $71,000. Bath Savings Trust Co acquired a new position in shares of Netflix during the second quarter valued at approximately $204,000. Fulton Bank N.A. raised its stake in Netflix by 16.8% in the 2nd quarter. Fulton Bank N.A. now owns 6,243 shares of the Internet television network’s stock valued at $2,293,000 after purchasing an additional 899 shares during the last quarter. Finally, Douglas Lane & Associates LLC raised its stake in Netflix by 20.2% in the 2nd quarter. Douglas Lane & Associates LLC now owns 998 shares of the Internet television network’s stock valued at $367,000 after purchasing an additional 168 shares during the last quarter. Institutional investors own 78.93% of the company’s stock.

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.

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