Netflix (NFLX) Shares Gap Up Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX)’s share price gapped up prior to trading on Tuesday after Loop Capital raised their price target on the stock from $237.00 to $241.00. The stock had previously closed at $187.82, but opened at $191.96. Loop Capital currently has a buy rating on the stock. Netflix shares last traded at $201.07, with a volume of 10892075 shares traded.

A number of other equities analysts have also commented on NFLX. SunTrust Banks reaffirmed a “hold” rating and issued a $175.00 price target on shares of Netflix in a report on Thursday, September 7th. Guggenheim reiterated a “buy” rating and issued a $210.00 price objective (up previously from $190.00) on shares of Netflix in a research report on Tuesday, September 12th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Netflix in a research report on Tuesday, September 12th. Needham & Company LLC reiterated a “hold” rating on shares of Netflix in a research report on Sunday, September 17th. Finally, Jefferies Group set a $165.00 price objective on Netflix and gave the stock a “neutral” rating in a research report on Monday, September 18th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirty-five have assigned a buy rating to the company. Netflix presently has a consensus rating of “Buy” and a consensus price target of $209.96.

In other Netflix news, CFO David B. Wells sold 1,000 shares of Netflix stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $189.78, for a total transaction of $189,780.00. Following the sale, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $189,780. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 3,885 shares of Netflix stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $200.00, for a total value of $777,000.00. Following the sale, the director now directly owns 1,015 shares in the company, valued at $203,000. The disclosure for this sale can be found here. Insiders sold 340,379 shares of company stock worth $66,005,098 over the last three months. 4.90% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of NFLX. Quadrant Capital Group LLC boosted its position in shares of Netflix by 0.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,684 shares of the Internet television network’s stock worth $229,000 after purchasing an additional 10 shares in the last quarter. Kalos Management Inc. boosted its position in shares of Netflix by 0.7% in the 2nd quarter. Kalos Management Inc. now owns 1,621 shares of the Internet television network’s stock worth $242,000 after purchasing an additional 12 shares in the last quarter. Laurel Wealth Advisors Inc. boosted its position in shares of Netflix by 1.6% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 3,452 shares of the Internet television network’s stock worth $515,000 after purchasing an additional 53 shares in the last quarter. Sii Investments Inc. WI boosted its position in shares of Netflix by 2.1% in the 2nd quarter. Sii Investments Inc. WI now owns 3,075 shares of the Internet television network’s stock worth $460,000 after purchasing an additional 64 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its position in shares of Netflix by 2.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 3,103 shares of the Internet television network’s stock worth $464,000 after purchasing an additional 65 shares in the last quarter. 83.27% of the stock is currently owned by institutional investors and hedge funds.

The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $87,010.00, a PE ratio of 203.10, a P/E/G ratio of 5.72 and a beta of 1.33.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, October 16th. The Internet television network reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). Netflix had a return on equity of 14.56% and a net margin of 4.04%. The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the prior year, the firm earned $0.12 earnings per share. The business’s revenue for the quarter was up 30.3% compared to the same quarter last year. equities research analysts expect that Netflix, Inc. will post 1.26 EPS for the current fiscal year.

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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.

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