B. Riley Increases Netflix (NFLX) Price Target to $322.00

Netflix (NASDAQ:NFLX) had its price objective upped by B. Riley from $315.00 to $322.00 in a note issued to investors on Wednesday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the Internet television network’s stock. B. Riley’s price target would indicate a potential downside of 8.15% from the company’s previous close. B. Riley also issued estimates for Netflix’s Q4 2018 earnings at $0.24 EPS, FY2018 earnings at $2.63 EPS, FY2019 earnings at $4.27 EPS, FY2020 earnings at $6.29 EPS and FY2020 earnings at $6.45 EPS.

Several other research analysts also recently issued reports on the company. BMO Capital Markets upped their price objective on Netflix from $400.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday. Canaccord Genuity upped their price objective on Netflix from $450.00 to $470.00 and gave the stock a “buy” rating in a report on Wednesday. Barclays set a $430.00 price objective on Netflix and gave the stock a “buy” rating in a report on Wednesday. Pivotal Research upped their price objective on Netflix from $435.00 to $480.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley reaffirmed a “buy” rating and set a $450.00 price objective on shares of Netflix in a report on Tuesday. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirty-one have given a buy rating to the company’s stock. Netflix has an average rating of “Buy” and an average target price of $376.83.

NASDAQ:NFLX traded up $3.88 during trading hours on Wednesday, hitting $350.59. 150,037 shares of the stock were exchanged, compared to its average volume of 12,086,094. Netflix has a twelve month low of $178.38 and a twelve month high of $423.21. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.54 and a current ratio of 1.39. The company has a market cap of $158.81 billion, a price-to-earnings ratio of 279.70, a P/E/G ratio of 4.66 and a beta of 0.89.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.21. Netflix had a return on equity of 29.52% and a net margin of 8.48%. The firm had revenue of $4 billion for the quarter, compared to the consensus estimate of $3.99 billion. During the same quarter in the prior year, the business earned $0.29 EPS. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. On average, equities analysts predict that Netflix will post 2.61 EPS for the current fiscal year.

In other Netflix news, insider Theodore A. Sarandos sold 111,391 shares of the stock in a transaction dated Monday, July 23rd. The stock was sold at an average price of $360.00, for a total transaction of $40,100,760.00. Following the completion of the transaction, the insider now owns 16,065 shares in the company, valued at approximately $5,783,400. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy M. Haley sold 21,882 shares of the stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $336.41, for a total value of $7,361,323.62. Following the transaction, the director now owns 9,177 shares of the company’s stock, valued at approximately $3,087,234.57. The disclosure for this sale can be found here. In the last 90 days, insiders sold 403,334 shares of company stock valued at $142,463,785. 4.29% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in NFLX. FMR LLC increased its holdings in Netflix by 6.1% during the 2nd quarter. FMR LLC now owns 26,511,408 shares of the Internet television network’s stock worth $10,377,360,000 after purchasing an additional 1,534,290 shares in the last quarter. Cornerstone Wealth Management LLC increased its holdings in Netflix by 39,296.1% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 929,355 shares of the Internet television network’s stock worth $2,334,000 after purchasing an additional 926,996 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in Netflix by 49,540.2% during the 1st quarter. Summit Trail Advisors LLC now owns 907,422 shares of the Internet television network’s stock worth $907,000 after purchasing an additional 905,594 shares in the last quarter. BlackRock Inc. increased its holdings in Netflix by 2.3% during the 2nd quarter. BlackRock Inc. now owns 27,436,409 shares of the Internet television network’s stock worth $10,739,434,000 after purchasing an additional 619,795 shares in the last quarter. Finally, PointState Capital LP increased its holdings in Netflix by 1,249.4% during the 2nd quarter. PointState Capital LP now owns 504,685 shares of the Internet television network’s stock worth $197,549,000 after purchasing an additional 467,285 shares in the last quarter. Hedge funds and other institutional investors own 73.83% of the company’s stock.

About Netflix

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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