Evercore ISI reaffirmed their outperform rating on shares of Netflix (NASDAQ:NFLX) in a report published on Wednesday morning, Briefing.com Automated Import reports. The brokerage currently has a $380.00 target price on the Internet television network’s stock, up from their prior target price of $350.00.
A number of other brokerages also recently issued reports on NFLX. Rosenblatt Securities reissued a neutral rating and issued a $370.00 price target (up from $350.00) on shares of Netflix in a report on Wednesday. Wedbush raised their target price on shares of Netflix from $165.00 to $183.00 and gave the company an underperform rating in a research note on Wednesday, April 17th. Stifel Nicolaus reaffirmed a buy rating and issued a $400.00 target price on shares of Netflix in a research note on Monday, April 8th. SunTrust Banks reaffirmed a buy rating on shares of Netflix in a research note on Friday, April 12th. Finally, Oppenheimer set a $119.00 target price on shares of American Express and gave the company a buy rating in a research note on Wednesday, April 17th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Netflix currently has an average rating of Buy and a consensus price target of $393.00.
Shares of Netflix stock traded down $1.50 on Wednesday, reaching $379.50. The stock had a trading volume of 4,281,612 shares, compared to its average volume of 7,860,046. Netflix has a 1 year low of $231.23 and a 1 year high of $416.79. The stock has a market capitalization of $166.58 billion, a P/E ratio of 141.60, a P/E/G ratio of 3.79 and a beta of 1.26. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.81. The stock’s 50 day moving average price is $360.92.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.19. Netflix had a net margin of 7.61% and a return on equity of 24.75%. The firm had revenue of $4.52 billion for the quarter, compared to the consensus estimate of $4.50 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The company’s revenue for the quarter was up 22.2% on a year-over-year basis. On average, research analysts forecast that Netflix will post 3.35 EPS for the current fiscal year.
In other Netflix news, CEO Reed Hastings sold 56,966 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $370.74, for a total transaction of $21,119,574.84. Following the transaction, the chief executive officer now directly owns 56,966 shares in the company, valued at $21,119,574.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 1,208 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $375.00, for a total transaction of $453,000.00. Following the transaction, the director now owns 357 shares in the company, valued at $133,875. The disclosure for this sale can be found here. Insiders have sold 167,486 shares of company stock worth $60,955,416 over the last quarter. Company insiders own 3.72% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Commonwealth Bank of Australia boosted its stake in Netflix by 10.1% in the fourth quarter. Commonwealth Bank of Australia now owns 753 shares of the Internet television network’s stock valued at $199,000 after acquiring an additional 69 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Netflix by 7.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 692,107 shares of the Internet television network’s stock valued at $185,212,000 after buying an additional 48,349 shares during the last quarter. Magnus Financial Group LLC bought a new stake in shares of Netflix during the fourth quarter valued at approximately $290,000. ARP Americas LP bought a new stake in shares of Netflix during the fourth quarter valued at approximately $799,000. Finally, Captrust Financial Advisors raised its holdings in shares of Netflix by 66.8% during the fourth quarter. Captrust Financial Advisors now owns 552 shares of the Internet television network’s stock valued at $148,000 after buying an additional 221 shares during the last quarter. Hedge funds and other institutional investors 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.
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