Netflix (NASDAQ:NFLX) PT Set at $450.00 by Royal Bank of Canada

Netflix (NASDAQ:NFLX) received a $450.00 target price from stock analysts at Royal Bank of Canada in a research note issued to investors on Monday, Borsen Zeitung reports. The brokerage currently has a “buy” rating on the Internet television network’s stock. Royal Bank of Canada’s target price points to a potential upside of 58.31% from the stock’s previous close.

NFLX has been the subject of several other research reports. Loop Capital set a $425.00 price objective on shares of Netflix and gave the company a “buy” rating in a research note on Monday, September 23rd. Wolfe Research began coverage on shares of Netflix in a research note on Thursday, June 20th. They issued an “outperform” rating and a $442.00 price objective for the company. Credit Suisse Group set a $440.00 price objective on shares of Netflix and gave the company a “buy” rating in a research note on Thursday, October 10th. Pivotal Research decreased their price objective on shares of Netflix from $515.00 to $350.00 and set a “buy” rating for the company in a research note on Tuesday, September 24th. Finally, Monness Crespi & Hardt decreased their price objective on shares of Netflix from $440.00 to $340.00 and set a “buy” rating for the company in a research note on Wednesday, October 9th. Five equities research 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 currently has a consensus rating of “Buy” and an average target price of $368.95.

NASDAQ:NFLX opened at $284.25 on Monday. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.85 and a current ratio of 0.85. The firm has a market cap of $124.45 billion, a price-to-earnings ratio of 106.06, a price-to-earnings-growth ratio of 2.90 and a beta of 1.20. Netflix has a 52 week low of $231.23 and a 52 week high of $385.99. The firm has a 50-day moving average price of $281.00 and a two-hundred day moving average price of $332.38.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Wednesday, July 17th. The Internet television network reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.04. The firm had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.93 billion. Netflix had a net margin of 6.53% and a return on equity of 20.88%. The company’s revenue for the quarter was up 26.0% on a year-over-year basis. During the same quarter last year, the business posted $0.85 EPS. As a group, sell-side analysts forecast that Netflix will post 3.25 earnings per share for the current year.

In other Netflix news, CEO Reed Hastings sold 43,372 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $266.57, for a total value of $11,561,674.04. Following the completion of the transaction, the chief executive officer now directly owns 43,372 shares of the company’s stock, valued at approximately $11,561,674.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bradford L. Smith purchased 6,499 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was purchased at an average cost of $308.49 per share, with a total value of $2,004,876.51. Following the completion of 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. Over the last ninety days, insiders sold 150,983 shares of company stock valued at $44,378,164. 3.72% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the business. PrairieView Partners LLC bought a new position in Netflix in the 3rd quarter valued at $616,000. Joel Isaacson & Co. LLC boosted its holdings in Netflix by 3.1% in the 3rd quarter. Joel Isaacson & Co. LLC now owns 5,245 shares of the Internet television network’s stock valued at $1,404,000 after purchasing an additional 158 shares during the period. Sterling Investment Advisors Ltd. boosted its holdings in Netflix by 22.5% in the 3rd quarter. Sterling Investment Advisors Ltd. now owns 594 shares of the Internet television network’s stock valued at $159,000 after purchasing an additional 109 shares during the period. Bristol John W & Co. Inc. NY boosted its holdings in Netflix by 1.3% in the 3rd quarter. Bristol John W & Co. Inc. NY now owns 175,080 shares of the Internet television network’s stock valued at $46,855,000 after purchasing an additional 2,330 shares during the period. Finally, Reilly Financial Advisors LLC boosted its holdings in Netflix by 50.0% in the 3rd quarter. Reilly Financial Advisors LLC now owns 600 shares of the Internet television network’s stock valued at $161,000 after purchasing an additional 200 shares during the period. 78.98% of the stock is owned by hedge funds and other 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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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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