Netflix (NASDAQ:NFLX) has been given a $440.00 price target by equities researchers at Credit Suisse Group in a research note issued to investors on Thursday, Borsen Zeitung reports. The firm presently has a “buy” rating on the Internet television network’s stock. Credit Suisse Group’s target price would suggest a potential upside of 55.52% from the stock’s previous close.
Other research analysts have also recently issued reports about the stock. KeyCorp reissued a “hold” rating on shares of Netflix in a research note on Tuesday, September 24th. Wolfe Research began coverage on shares of Netflix in a research note on Thursday, June 20th. They set an “outperform” rating and a $442.00 price objective for the company. Imperial Capital set a $451.00 price objective on shares of Netflix and gave the stock a “buy” rating in a research note on Thursday, September 12th. Royal Bank of Canada set a $450.00 price objective on shares of Netflix and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, Evercore ISI dropped their price objective on shares of Netflix from $380.00 to $300.00 and set an “in-line” rating for the company in a research note on Monday, October 7th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $371.13.
Shares of Netflix stock opened at $282.93 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.06. The company has a 50-day moving average of $281.77 and a two-hundred day moving average of $333.91. Netflix has a 12-month low of $231.23 and a 12-month high of $385.99. The stock has a market cap of $123.88 billion, a PE ratio of 105.57, a price-to-earnings-growth ratio of 2.78 and a beta of 1.20.
In other Netflix news, CEO Reed Hastings sold 55,342 shares of Netflix stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $309.54, for a total value of $17,130,562.68. Following the transaction, the chief executive officer now owns 55,342 shares in the company, valued at approximately $17,130,562.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bradford L. Smith purchased 6,499 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was bought at an average price of $308.49 per share, for a total transaction of $2,004,876.51. Following the acquisition, the director now owns 799 shares in the company, valued at $246,483.51. The disclosure for this purchase can be found here. In the last quarter, insiders sold 150,983 shares of company stock worth $44,378,164. 4.29% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in NFLX. Nuveen Asset Management LLC acquired a new position in shares of Netflix in the 2nd quarter valued at $1,246,724,000. Invesco Ltd. boosted its holdings in shares of Netflix by 39.1% in the 2nd quarter. Invesco Ltd. now owns 7,249,377 shares of the Internet television network’s stock valued at $2,662,841,000 after purchasing an additional 2,039,046 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Netflix by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 32,688,805 shares of the Internet television network’s stock valued at $12,007,252,000 after purchasing an additional 1,118,349 shares during the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of Netflix by 36,563.5% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 786,432 shares of the Internet television network’s stock valued at $78,643,000 after purchasing an additional 784,287 shares during the last quarter. Finally, OZ Management LP acquired a new position in shares of Netflix in the 2nd quarter valued at $228,716,000. Institutional investors own 78.96% of the company’s stock.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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