Bank of America Increases Netflix (NFLX) Price Target to $199.00

Netflix (NASDAQ:NFLX) had its target price increased by Bank of America from $225.00 to $199.00 in a report released on Friday morning. Bank of America currently has a buy rating on the Internet television network’s stock.

Several other brokerages have also recently weighed in on NFLX. SunTrust Banks set a $175.00 price target on Netflix and gave the company a hold rating in a research report on Monday, October 16th. Jefferies Group set a $190.00 price target on Netflix and gave the company a neutral rating in a research report on Tuesday, October 17th. Wedbush set a $93.00 price target on Netflix and gave the company a sell rating in a research report on Tuesday, October 17th. FBR & Co reiterated a buy rating and set a $207.00 price target (up from $172.00) on shares of Netflix in a research report on Tuesday, October 17th. Finally, Royal Bank Of Canada lifted their price target on Netflix from $210.00 to $250.00 and gave the company an outperform rating in a research report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating, thirty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Netflix currently has a consensus rating of Buy and a consensus price target of $208.19.

Netflix (NFLX) opened at $184.04 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.47. The firm has a market capitalization of $79,640.00, a P/E ratio of 188.71, a P/E/G ratio of 5.55 and a beta of 1.33. Netflix has a 12-month low of $118.40 and a 12-month high of $204.38.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, October 16th. The Internet television network reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.03). The company had revenue of $2.99 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Netflix had a net margin of 4.04% and a return on equity of 14.56%. The firm’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.12 earnings per share. equities analysts predict that Netflix will post 1.26 EPS for the current year.

In related news, insider Jonathan Friedland sold 3,622 shares of the business’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $194.89, for a total value of $705,891.58. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel David A. Hyman sold 63,378 shares of the business’s stock in a transaction on Monday, October 30th. The shares were sold at an average price of $198.90, for a total value of $12,605,884.20. Following the completion of the sale, the general counsel now owns 43,071 shares in the company, valued at approximately $8,566,821.90. The disclosure for this sale can be found here. Insiders have sold 325,935 shares of company stock worth $62,914,692 in the last three months. 4.90% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of NFLX. State of Alaska Department of Revenue purchased a new stake in shares of Netflix in the 2nd quarter valued at $155,000. NGAM Advisors L.P. purchased a new stake in shares of Netflix in the 2nd quarter valued at $1,864,000. Harbour Capital Advisors LLC raised its holdings in shares of Netflix by 14,840.7% in the 2nd quarter. Harbour Capital Advisors LLC now owns 20,917 shares of the Internet television network’s stock valued at $140,000 after buying an additional 20,777 shares during the period. Honkamp Krueger Financial Services Inc. raised its holdings in shares of Netflix by 39.4% in the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 1,970 shares of the Internet television network’s stock valued at $294,000 after buying an additional 557 shares during the period. Finally, CIBC Asset Management Inc raised its holdings in shares of Netflix by 3.2% in the 2nd quarter. CIBC Asset Management Inc now owns 54,300 shares of the Internet television network’s stock valued at $8,113,000 after buying an additional 1,682 shares during the period. Hedge funds and other institutional investors own 83.38% of the company’s stock.

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About Netflix

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

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