Netflix (NFLX) Given a $370.00 Price Target at Nomura

Nomura set a $370.00 target price on Netflix (NASDAQ:NFLX) in a research note issued to investors on Monday morning. The brokerage currently has a neutral rating on the Internet television network’s stock.

Several other equities research analysts have also recently commented on the stock. Loop Capital boosted their price target on shares of Netflix from $365.00 to $385.00 in a research report on Wednesday, October 17th. Citigroup cut their price target on shares of Netflix and set a neutral rating on the stock in a research report on Monday, October 15th. Imperial Capital cut their price target on shares of Netflix from $503.00 to $494.00 and set an outperform rating on the stock in a research report on Monday, August 13th. Canaccord Genuity boosted their price target on shares of Netflix from $350.00 to $500.00 and gave the stock a buy rating in a research report on Thursday, July 12th. Finally, Credit Suisse Group reissued a buy rating and set a $470.00 price target on shares of Netflix in a research report on Monday, October 1st. Five analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirty have given a buy rating to the stock. The company has a consensus rating of Buy and a consensus target price of $377.41.

Shares of NASDAQ NFLX opened at $274.07 on Monday. The firm has a market capitalization of $130.75 billion, a P/E ratio of 217.51, a P/E/G ratio of 3.80 and a beta of 0.89. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.39 and a quick ratio of 1.39. Netflix has a 1-year low of $178.38 and a 1-year high of $423.21.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, October 16th. The Internet television network reported $0.89 EPS for the quarter, topping the consensus estimate of $0.68 by $0.21. Netflix had a net margin of 8.48% and a return on equity of 29.52%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same period in the previous year, the firm posted $0.29 EPS. The company’s revenue for the quarter was up 34.0% on a year-over-year basis. Sell-side analysts expect that Netflix will post 2.63 earnings per share for the current year.

In other Netflix news, CFO David B. Wells sold 1,000 shares of the stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $314.64, for a total transaction of $314,640.00. Following the transaction, the chief financial officer now owns 1,000 shares in the company, valued at approximately $314,640. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Timothy M. Haley sold 21,882 shares of the stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $336.41, for a total transaction of $7,361,323.62. Following the transaction, the director now owns 9,177 shares in the company, valued at approximately $3,087,234.57. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 321,155 shares of company stock worth $109,557,628. Company insiders own 4.29% of the company’s stock.

Large investors have recently made changes to their positions in the business. HPM Partners LLC grew its position in shares of Netflix by 30.2% during the 2nd quarter. HPM Partners LLC now owns 3,896 shares of the Internet television network’s stock worth $1,525,000 after purchasing an additional 904 shares in the last quarter. Morgan Stanley boosted its position in shares of Netflix by 1.6% during the 2nd quarter. Morgan Stanley now owns 2,364,657 shares of the Internet television network’s stock worth $925,600,000 after acquiring an additional 37,425 shares in the last quarter. Private Capital Group LLC boosted its position in shares of Netflix by 33.1% during the 2nd quarter. Private Capital Group LLC now owns 744 shares of the Internet television network’s stock worth $291,000 after acquiring an additional 185 shares in the last quarter. Mackay Shields LLC boosted its position in shares of Netflix by 3.0% during the 2nd quarter. Mackay Shields LLC now owns 169,338 shares of the Internet television network’s stock worth $66,284,000 after acquiring an additional 4,917 shares in the last quarter. Finally, Iron Financial LLC acquired a new stake in shares of Netflix during the 2nd quarter worth approximately $579,000. Hedge funds and other institutional investors own 74.05% 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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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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