Pivotal Research Raises Netflix, Inc. (NFLX) Price Target to $175.00

Netflix, Inc. (NASDAQ:NFLX) had its target price hoisted by Pivotal Research from $170.00 to $175.00 in a report released on Tuesday morning. The firm currently has a buy rating on the Internet television network’s stock.

Other research analysts have also issued research reports about the company. BMO Capital Markets reissued a hold rating and issued a $150.00 target price on shares of Netflix in a report on Monday. Royal Bank of Canada reissued an outperform rating and issued a $175.00 target price on shares of Netflix in a report on Monday. Vetr raised Netflix from a sell rating to a hold rating and set a $138.98 target price on the stock in a report on Monday. Goldman Sachs Group Inc reissued a buy rating and issued a $170.00 target price on shares of Netflix in a report on Friday, April 14th. Finally, Cantor Fitzgerald reissued a buy rating and issued a $160.00 target price (up previously from $148.64) on shares of Netflix in a report on Thursday, April 13th. Two investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-six have given a buy rating to the company’s stock. Netflix currently has an average rating of Buy and a consensus price target of $145.35.

Netflix (NASDAQ:NFLX) traded up 0.1203% during trading on Tuesday, hitting $141.3499. 2,568,947 shares of the stock traded hands. The company’s 50 day moving average price is $143.46 and its 200 day moving average price is $130.69. The company has a market cap of $60.84 billion, a P/E ratio of 328.7207 and a beta of 1.27. Netflix has a 12 month low of $84.50 and a 12 month high of $148.29.



Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, April 17th. The Internet television network reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.03. Netflix had a return on equity of 7.51% and a net margin of 2.11%. The company earned $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the previous year, the business earned $0.06 earnings per share. The firm’s revenue for the quarter was up 34.7% on a year-over-year basis. On average, equities research analysts anticipate that Netflix will post $1.05 EPS for the current fiscal year.

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In other Netflix news, Director Richard N. Barton sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 18th. The stock was sold at an average price of $147.39, for a total transaction of $147,390.00. Following the completion of the sale, the director now owns 8,012 shares in the company, valued at approximately $1,180,888.68. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Tawni Cranz sold 2,170 shares of the firm’s stock in a transaction that occurred on Tuesday, February 7th. The shares were sold at an average price of $144.23, for a total value of $312,979.10. Following the sale, the insider now owns 2,170 shares of the company’s stock, valued at approximately $312,979.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 236,281 shares of company stock valued at $34,047,161. 4.90% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. Capital Research Global Investors increased its position in Netflix by 3.6% in the third quarter. Capital Research Global Investors now owns 51,745,376 shares of the Internet television network’s stock worth $5,099,507,000 after buying an additional 1,777,574 shares in the last quarter. State Street Corp increased its position in Netflix by 3.8% in the fourth quarter. State Street Corp now owns 17,072,594 shares of the Internet television network’s stock worth $2,113,578,000 after buying an additional 620,750 shares in the last quarter. Baillie Gifford & Co. increased its position in Netflix by 2.0% in the fourth quarter. Baillie Gifford & Co. now owns 7,358,433 shares of the Internet television network’s stock worth $910,974,000 after buying an additional 145,331 shares in the last quarter. Capital World Investors increased its position in Netflix by 7.9% in the third quarter. Capital World Investors now owns 7,182,812 shares of the Internet television network’s stock worth $707,866,000 after buying an additional 525,886 shares in the last quarter. Finally, Viking Global Investors LP increased its position in Netflix by 145.5% in the fourth quarter. Viking Global Investors LP now owns 6,469,312 shares of the Internet television network’s stock worth $800,901,000 after buying an additional 3,834,045 shares in the last quarter. 80.42% of the stock is currently owned by institutional investors.

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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