Netflix Inc. (NASDAQ:NFLX) had its price target upped by analysts at Wedbush to $68.00 in a research note issued to investors on Thursday. The firm presently has an “underperform” rating on the Internet television network’s stock. Wedbush’s price target would suggest a potential downside of 48.97% from the stock’s current price.
Several other research firms also recently commented on NFLX. Instinet upped their price objective on Netflix to $165.00 in a research note on Thursday. Cantor Fitzgerald upped their price objective on Netflix to $160.00 in a research note on Thursday. Brean Capital reiterated a “buy” rating and issued a $145.00 price objective (down previously from $150.00) on shares of Netflix in a research note on Thursday. Raymond James Financial Inc. set a $120.00 price objective on Netflix and gave the company a “buy” rating in a research note on Sunday, October 16th. Finally, Morgan Stanley reiterated an “overweight” rating on shares of Netflix in a research note on Thursday. Seven investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $124.17.
Netflix (NASDAQ:NFLX) opened at 133.26 on Thursday. The firm has a market cap of $57.19 billion, a price-to-earnings ratio of 360.16 and a beta of 1.67. The stock’s 50 day moving average price is $126.10 and its 200 day moving average price is $108.90. Netflix has a 52 week low of $79.95 and a 52 week high of $135.40.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Wednesday, January 18th. The Internet television network reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.02. The firm earned $2.48 billion during the quarter, compared to analyst estimates of $2.47 billion. Netflix had a return on equity of 6.31% and a net margin of 1.99%. The company’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. On average, equities research analysts predict that Netflix will post $0.41 EPS for the current year.
In other Netflix news, Director Richard N. Barton sold 1,400 shares of Netflix stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $127.42, for a total transaction of $178,388.00. Following the transaction, the director now directly owns 16,262 shares of the company’s stock, valued at approximately $2,072,104.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David B. Wells sold 500 shares of Netflix stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $126.29, for a total value of $63,145.00. Following the transaction, the chief financial officer now directly owns 500 shares in the company, valued at $63,145. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in NFLX. Fort Point Capital Partners LLC increased its position in shares of Netflix by 102.6% in the third quarter. Fort Point Capital Partners LLC now owns 6,176 shares of the Internet television network’s stock worth $609,000 after buying an additional 3,128 shares in the last quarter. HighPoint Advisor Group LLC increased its position in shares of Netflix by 243.6% in the third quarter. HighPoint Advisor Group LLC now owns 11,664 shares of the Internet television network’s stock worth $1,342,000 after buying an additional 8,269 shares in the last quarter. D.A. Davidson & CO. increased its position in shares of Netflix by 168.8% in the third quarter. D.A. Davidson & CO. now owns 4,099 shares of the Internet television network’s stock worth $403,000 after buying an additional 2,574 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of Netflix during the third quarter worth about $8,273,000. Finally, Tuttle Tactical Management LLC acquired a new position in shares of Netflix during the third quarter worth about $194,000. 79.44% of the stock is currently owned by institutional investors.
Netflix Inc is an Internet television network with over 86 million members in over 190 countries enjoying more than 125 million hours of television (TV) shows and movies per day, including original series, documentaries and feature films. Members can watch as much as they want, anytime, anywhere, on nearly any Internet-connected screen.