Piper Jaffray Companies Cuts Netflix (NASDAQ:NFLX) Price Target to $400.00

Netflix (NASDAQ:NFLX) had its price target reduced by Piper Jaffray Companies from $440.00 to $400.00 in a research note issued to investors on Thursday, BenzingaRatingsTable reports. The brokerage currently has an “overweight” rating on the Internet television network’s stock. Piper Jaffray Companies’ target price would suggest a potential upside of 39.72% from the company’s current price.

Several other equities analysts have also commented on NFLX. Sanford C. Bernstein decreased their price objective on shares of Netflix from $450.00 to $422.00 and set an “outperform” rating for the company in a research report on Thursday. Nomura increased their price objective on shares of Netflix from $310.00 to $330.00 and gave the company a “neutral” rating in a research report on Thursday. BMO Capital Markets decreased their price objective on shares of Netflix from $470.00 to $440.00 and set an “outperform” rating for the company in a research report on Thursday, July 18th. Goldman Sachs Group set a $400.00 price objective on shares of Netflix and gave the company a “buy” rating in a research report on Thursday. Finally, KeyCorp reaffirmed a “hold” rating on shares of Netflix in a research report on Tuesday, September 24th. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. Netflix has a consensus rating of “Buy” and an average target price of $367.65.

Shares of Netflix stock opened at $286.28 on Thursday. The firm has a market capitalization of $125.34 billion, a P/E ratio of 106.82, a PEG ratio of 2.94 and a beta of 1.20. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 2.06. The company has a 50 day moving average price of $280.78 and a 200 day moving average price of $332.02. Netflix has a 52 week low of $231.23 and a 52 week high of $385.99.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Wednesday, October 16th. The Internet television network reported $1.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.43. The firm had revenue of $5.25 billion during the quarter, compared to analyst estimates of $5.25 billion. Netflix had a net margin of 6.53% and a return on equity of 20.88%. Netflix’s revenue was up 31.2% on a year-over-year basis. During the same period last year, the firm posted $0.89 EPS. As a group, research analysts anticipate that Netflix will post 3.23 earnings per share for the current fiscal year.

In other Netflix news, Director Bradford L. Smith bought 6,499 shares of the stock in a transaction on Thursday, August 8th. The shares were bought at an average price of $308.49 per share, with a total value of $2,004,876.51. Following the purchase, the director now directly owns 799 shares in the company, valued at approximately $246,483.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Reed Hastings sold 55,342 shares of Netflix stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $309.54, for a total transaction of $17,130,562.68. Following the sale, the chief executive officer now directly owns 55,342 shares in the company, valued at approximately $17,130,562.68. The disclosure for this sale can be found here. Insiders sold a total of 150,983 shares of company stock worth $44,378,164 in the last three months. 4.29% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Nelson Roberts Investment Advisors LLC boosted its holdings in shares of Netflix by 600.0% in the second quarter. Nelson Roberts Investment Advisors LLC now owns 84 shares of the Internet television network’s stock valued at $31,000 after acquiring an additional 72 shares during the period. Intercontinental Wealth Advisors LLC boosted its holdings in shares of Netflix by 100.0% in the third quarter. Intercontinental Wealth Advisors LLC now owns 96 shares of the Internet television network’s stock valued at $26,000 after acquiring an additional 48 shares during the period. SRS Capital Advisors Inc. acquired a new stake in shares of Netflix in the second quarter valued at approximately $39,000. SevenBridge Financial Group LLC boosted its holdings in shares of Netflix by 66.7% in the second quarter. SevenBridge Financial Group LLC now owns 125 shares of the Internet television network’s stock valued at $46,000 after acquiring an additional 50 shares during the period. Finally, CX Institutional acquired a new stake in shares of Netflix in the third quarter valued at approximately $35,000. 78.98% of the stock is currently owned by institutional investors.

Netflix Company Profile

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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