Netflix (NFLX) PT Raised to $319.00 at Piper Jaffray Companies

Netflix (NASDAQ:NFLX) had its target price upped by stock analysts at Piper Jaffray Companies from $281.00 to $319.00 in a research report issued on Wednesday. The brokerage presently has an “overweight” rating on the Internet television network’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 14.52% from the company’s previous close.

Several other equities research analysts have also weighed in on NFLX. Loop Capital reissued a “buy” rating and set a $237.00 target price on shares of Netflix in a research report on Thursday, October 26th. B. Riley reissued a “neutral” rating on shares of Netflix in a research report on Wednesday, November 1st. Zacks Investment Research lowered Netflix from a “buy” rating to a “hold” rating in a research report on Wednesday, November 15th. Goldman Sachs Group set a $250.00 price target on Netflix and gave the stock a “buy” rating in a research report on Tuesday, November 28th. Finally, Vetr raised Netflix from a “buy” rating to a “strong-buy” rating and set a $211.28 price target on the stock in a research report on Wednesday, November 29th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Netflix has a consensus rating of “Buy” and a consensus target price of $240.15.

Shares of Netflix (NASDAQ:NFLX) traded up $0.03 on Wednesday, hitting $278.55. The stock had a trading volume of 7,764,600 shares, compared to its average volume of 10,582,530. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 1.81. Netflix has a fifty-two week low of $138.26 and a fifty-two week high of $286.81. The stock has a market cap of $120,863.31, a PE ratio of 222.84, a PEG ratio of 3.82 and a beta of 1.04.

Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, January 22nd. The Internet television network reported $0.41 earnings per share for the quarter, hitting the consensus estimate of $0.41. Netflix had a return on equity of 17.20% and a net margin of 4.78%. The business had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the company earned $0.15 EPS. The business’s quarterly revenue was up 32.6% on a year-over-year basis. research analysts forecast that Netflix will post 2.73 EPS for the current fiscal year.

In other news, Director A George Battle sold 10,716 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $258.49, for a total value of $2,769,978.84. Following the sale, the director now directly owns 2,575 shares in the company, valued at $665,611.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 350 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $185.71, for a total value of $64,998.50. Following the completion of the sale, the director now owns 7,171 shares in the company, valued at $1,331,726.41. The disclosure for this sale can be found here. Insiders sold 393,658 shares of company stock worth $92,837,864 over the last 90 days. Company insiders own 4.90% of the company’s stock.

Several large investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its position in shares of Netflix by 3.4% in the fourth quarter. Geode Capital Management LLC now owns 4,400,513 shares of the Internet television network’s stock valued at $842,878,000 after acquiring an additional 143,321 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Netflix by 4.4% in the fourth quarter. Bank of New York Mellon Corp now owns 3,798,067 shares of the Internet television network’s stock valued at $729,077,000 after purchasing an additional 159,750 shares during the last quarter. First Trust Advisors LP increased its stake in Netflix by 9.7% in the fourth quarter. First Trust Advisors LP now owns 1,979,971 shares of the Internet television network’s stock valued at $380,075,000 after purchasing an additional 174,630 shares during the last quarter. Wells Fargo & Company MN increased its stake in Netflix by 22.5% in the fourth quarter. Wells Fargo & Company MN now owns 1,934,754 shares of the Internet television network’s stock valued at $371,396,000 after purchasing an additional 354,801 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Netflix by 3.3% in the third quarter. Legal & General Group Plc now owns 1,855,088 shares of the Internet television network’s stock valued at $336,420,000 after purchasing an additional 58,691 shares during the last quarter. Institutional investors and hedge funds own 82.23% of the company’s stock.

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Netflix Company Profile

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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