Brokerages Set Netflix, Inc. (NFLX) Price Target at $178.29

Shares of Netflix, Inc. (NASDAQ:NFLX) have received an average rating of “Buy” from the forty-seven brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-eight have assigned a buy rating to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $178.29.

Several analysts have recently weighed in on NFLX shares. Morgan Stanley set a $210.00 price objective on shares of Netflix and gave the stock a “buy” rating in a report on Tuesday, July 18th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $203.00 price objective (up previously from $178.00) on shares of Netflix in a report on Tuesday, July 18th. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $155.00 to $200.00 in a report on Tuesday, July 18th. BidaskClub raised shares of Netflix from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $200.00 price objective (up previously from $170.00) on shares of Netflix in a report on Tuesday, July 18th.

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In other Netflix news, CEO Reed Hastings sold 115,577 shares of the business’s stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $152.63, for a total value of $17,640,517.51. Following the completion of the sale, the chief executive officer now owns 115,577 shares of the company’s stock, valued at approximately $17,640,517.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 2,000 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $176.41, for a total transaction of $352,820.00. Following the completion of the sale, the director now directly owns 8,012 shares of the company’s stock, valued at approximately $1,413,396.92. The disclosure for this sale can be found here. Insiders sold a total of 287,986 shares of company stock valued at $48,891,010 in the last three months. Insiders own 4.90% of the company’s stock.

Several institutional investors have recently modified their holdings of NFLX. Almanack Investment Partners LLC. purchased a new position in shares of Netflix during the second quarter valued at approximately $101,000. Clean Yield Group purchased a new position in shares of Netflix during the first quarter valued at approximately $103,000. TD Capital Management LLC purchased a new position in shares of Netflix during the second quarter valued at approximately $105,000. SRS Capital Advisors Inc. boosted its position in shares of Netflix by 3,361.9% in the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock valued at $107,000 after buying an additional 706 shares during the last quarter. Finally, Harfst & Associates Inc. purchased a new position in shares of Netflix during the first quarter valued at approximately $109,000. Institutional investors own 82.94% of the company’s stock.

Netflix (NASDAQ NFLX) opened at 166.54 on Friday. The firm has a market capitalization of $71.90 billion, a P/E ratio of 202.60 and a beta of 1.02. Netflix has a 12 month low of $93.26 and a 12 month high of $191.50. The stock’s 50 day moving average price is $170.82 and its 200 day moving average price is $154.74.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.01. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The business’s quarterly revenue was up 32.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 EPS. On average, analysts forecast that Netflix will post $1.19 earnings per share for the current year.

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.

Analyst Recommendations for Netflix (NASDAQ:NFLX)

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