Canaccord Genuity Boosts Netflix, Inc. (NFLX) Price Target to $200.00

Netflix, Inc. (NASDAQ:NFLX) had its price objective upped by Canaccord Genuity from $175.00 to $200.00 in a report issued on Tuesday, MarketBeat.com reports. They currently have a buy rating on the Internet television network’s stock.

NFLX has been the subject of several other research reports. Instinet restated a buy rating on shares of Netflix in a report on Friday, June 2nd. Bank of America Corporation restated a buy rating and issued a $184.00 target price (up previously from $154.00) on shares of Netflix in a report on Tuesday, April 18th. Pacific Crest restated an overweight rating and issued a $170.00 target price on shares of Netflix in a report on Friday, April 7th. Morgan Stanley restated an overweight rating and issued a $185.00 target price (up previously from $175.00) on shares of Netflix in a report on Thursday, July 13th. Finally, Royal Bank Of Canada restated an outperform rating and issued a $175.00 target price on shares of Netflix in a report on Friday, June 16th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-nine have given a buy rating to the stock. Netflix has a consensus rating of Buy and a consensus price target of $169.38.

Netflix (NASDAQ:NFLX) traded up 1.94% during mid-day trading on Tuesday, reaching $187.17. 7,344,166 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $158.04 and a 200-day moving average price of $148.40. Netflix has a 12-month low of $85.01 and a 12-month high of $187.63. The stock has a market capitalization of $80.74 billion, a PE ratio of 227.70 and a beta of 0.98.

Netflix (NASDAQ:NFLX) last released its earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. Netflix’s revenue was up 32.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. Equities research analysts expect that Netflix will post $1.16 EPS for the current year.

In other news, CEO Reed Hastings sold 101,815 shares of Netflix stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $157.13, for a total value of $15,998,190.95. Following the transaction, the chief executive officer now owns 101,815 shares of the company’s stock, valued at approximately $15,998,190.95. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard N. Barton sold 2,000 shares of Netflix stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $159.08, for a total transaction of $318,160.00. Following the completion of the transaction, the director now directly owns 7,082 shares in the company, valued at approximately $1,126,604.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 343,728 shares of company stock worth $53,858,193. Insiders own 4.90% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Lincoln Capital Corp bought a new stake in Netflix during the fourth quarter valued at $248,000. Perigon Wealth Management LLC increased its stake in Netflix by 1.1% in the fourth quarter. Perigon Wealth Management LLC now owns 21,782 shares of the Internet television network’s stock valued at $3,031,000 after buying an additional 235 shares in the last quarter. M Holdings Securities Inc. bought a new stake in Netflix during the fourth quarter valued at $304,000. Kentucky Retirement Systems bought a new stake in Netflix during the fourth quarter valued at $3,855,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Netflix during the fourth quarter valued at $1,720,000. 82.77% of the stock is currently owned by hedge funds and other institutional investors.

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.