Piper Jaffray Boosts Netflix (NFLX) Price Target to $367.00

Netflix (NASDAQ:NFLX) had its target price boosted by Piper Jaffray from $360.00 to $367.00 in a research note released on Tuesday morning. Piper Jaffray also issued estimates for Netflix’s Q2 2018 earnings at $0.80 EPS, Q3 2018 earnings at $0.61 EPS, Q4 2018 earnings at $0.71 EPS, FY2018 earnings at $2.76 EPS, Q2 2019 earnings at $0.97 EPS, Q3 2019 earnings at $1.12 EPS, Q4 2019 earnings at $1.31 EPS, FY2019 earnings at $4.33 EPS and FY2020 earnings at $6.58 EPS.

Other research analysts have also issued research reports about the stock. Cowen reissued a buy rating and issued a $325.00 price target (up previously from $275.00) on shares of Netflix in a research report on Wednesday, April 11th. Wedbush set a $110.00 price objective on shares of Netflix and gave the stock a sell rating in a research note on Thursday, April 12th. Oppenheimer upped their price objective on shares of Netflix from $285.00 to $370.00 and gave the stock an outperform rating in a research note on Tuesday. Credit Suisse Group reaffirmed a neutral rating and set a $266.00 price objective (up from $224.00) on shares of Netflix in a research note on Tuesday, January 23rd. Finally, William Blair reaffirmed an outperform rating on shares of Netflix in a research note on Tuesday, January 23rd. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirty-two have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $293.44.

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NASDAQ:NFLX opened at $332.70 on Tuesday. Netflix has a 12-month low of $139.27 and a 12-month high of $338.82. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.30 and a quick ratio of 1.40. The stock has a market capitalization of $145,164.42, a P/E ratio of 266.16, a price-to-earnings-growth ratio of 4.37 and a beta of 0.99.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, April 16th. The Internet television network reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Netflix had a net margin of 5.26% and a return on equity of 19.11%. The firm had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the business posted $0.40 earnings per share. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. equities analysts predict that Netflix will post 2.87 EPS for the current fiscal year.

In related news, Director Richard N. Barton sold 700 shares of the firm’s stock in a transaction on Thursday, April 5th. The shares were sold at an average price of $283.39, for a total transaction of $198,373.00. Following the sale, the director now directly owns 7,393 shares in the company, valued at $2,095,102.27. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Reed Hastings sold 75,369 shares of the firm’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $225.52, for a total transaction of $16,997,216.88. Following the sale, the chief executive officer now owns 75,369 shares in the company, valued at $16,997,216.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 442,200 shares of company stock worth $119,779,880. Company insiders own 4.90% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Duncker Streett & Co. Inc. raised its holdings in shares of Netflix by 47.1% during the fourth quarter. Duncker Streett & Co. Inc. now owns 625 shares of the Internet television network’s stock worth $120,000 after acquiring an additional 200 shares during the period. Buckingham Asset Management LLC raised its holdings in shares of Netflix by 9.2% during the fourth quarter. Buckingham Asset Management LLC now owns 2,386 shares of the Internet television network’s stock worth $458,000 after acquiring an additional 202 shares during the period. CWA Asset Management Group LLC raised its holdings in shares of Netflix by 8.5% during the fourth quarter. CWA Asset Management Group LLC now owns 2,700 shares of the Internet television network’s stock worth $518,000 after acquiring an additional 211 shares during the period. Hanseatic Management Services Inc. raised its holdings in shares of Netflix by 3.6% during the fourth quarter. Hanseatic Management Services Inc. now owns 6,256 shares of the Internet television network’s stock worth $1,201,000 after acquiring an additional 219 shares during the period. Finally, Murphy Capital Management Inc. raised its holdings in shares of Netflix by 5.4% during the fourth quarter. Murphy Capital Management Inc. now owns 4,316 shares of the Internet television network’s stock worth $828,000 after acquiring an additional 220 shares during the period. Institutional investors and hedge funds own 81.65% of the company’s stock.

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About Netflix

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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