Netflix (NASDAQ:NFLX) Given a $590.00 Price Target at The Goldman Sachs Group

The Goldman Sachs Group set a $590.00 price objective on Netflix (NASDAQ:NFLX) in a report published on Wednesday, Borsen Zeitung reports.

A number of other research analysts have also weighed in on the company. Benchmark raised their price objective on Netflix from $448.00 to $493.00 and gave the company a sell rating in a research report on Wednesday, September 29th. They noted that the move was a valuation call. Barclays set a $625.00 price objective on Netflix in a research report on Wednesday, September 8th. UBS Group raised their price objective on Netflix from $600.00 to $620.00 and gave the company a buy rating in a research report on Thursday, July 15th. Wedbush restated an underperform rating and set a $342.00 price objective on shares of Netflix in a research report on Wednesday, July 21st. Finally, Robert W. Baird raised their price objective on Netflix from $650.00 to $680.00 and gave the company an outperform rating in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and thirty have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Buy and an average price target of $637.32.

Shares of NFLX stock opened at $629.76 on Wednesday. Netflix has a 52-week low of $463.41 and a 52-week high of $646.84. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.23 and a current ratio of 1.23. The firm has a market capitalization of $278.73 billion, a PE ratio of 65.26, a PEG ratio of 1.88 and a beta of 0.76. The stock has a fifty day simple moving average of $576.04 and a two-hundred day simple moving average of $536.89.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 19th. The Internet television network reported $2.97 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.16 by ($0.19). The business had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.32 billion. Netflix had a return on equity of 36.49% and a net margin of 15.92%. The company’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.59 EPS. On average, sell-side analysts forecast that Netflix will post 10.38 EPS for the current fiscal year.

In related news, Director Ann Mather sold 809 shares of the business’s stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $600.00, for a total value of $485,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Theodore A. Sarandos sold 69,707 shares of the business’s stock in a transaction that occurred on Monday, October 4th. The stock was sold at an average price of $625.00, for a total transaction of $43,566,875.00. The disclosure for this sale can be found here. Insiders have sold 111,927 shares of company stock valued at $68,562,364 in the last ninety days. Insiders own 3.40% of the company’s stock.

Large investors have recently modified their holdings of the stock. Asahi Life Asset Management CO. LTD. raised its stake in Netflix by 316.7% in the second quarter. Asahi Life Asset Management CO. LTD. now owns 8,084 shares of the Internet television network’s stock worth $4,270,000 after buying an additional 6,144 shares in the last quarter. Trust Asset Management LLC raised its stake in Netflix by 12.8% in the second quarter. Trust Asset Management LLC now owns 3,997 shares of the Internet television network’s stock worth $2,111,000 after buying an additional 453 shares in the last quarter. Peregrine Asset Advisers Inc. raised its stake in Netflix by 281.7% in the first quarter. Peregrine Asset Advisers Inc. now owns 3,909 shares of the Internet television network’s stock worth $2,039,000 after buying an additional 2,885 shares in the last quarter. Schroder Investment Management Group raised its stake in Netflix by 17.8% in the first quarter. Schroder Investment Management Group now owns 282,160 shares of the Internet television network’s stock worth $147,191,000 after buying an additional 42,659 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec grew its holdings in Netflix by 1,027.0% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 41,227 shares of the Internet television network’s stock worth $21,506,000 after purchasing an additional 37,569 shares during the last quarter. 79.51% of the stock is owned by institutional investors.

About Netflix

Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.

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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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