Netflix (NFLX) Price Target Lowered to $358.00 at Buckingham Research

Netflix (NASDAQ:NFLX) had its target price decreased by Buckingham Research from $382.00 to $358.00 in a research report released on Wednesday, April 17th, AnalystRatings.com reports. Buckingham Research currently has a neutral rating on the Internet television network’s stock.

Other equities research analysts have also recently issued research reports about the stock. UBS Group upgraded shares of Netflix from a neutral rating to a buy rating in a research report on Thursday, January 10th. SunTrust Banks reiterated a buy rating and set a $355.00 price target (down previously from $410.00) on shares of Netflix in a research report on Wednesday, January 2nd. Sanford C. Bernstein reiterated a buy rating and set a $421.00 price target on shares of Netflix in a research report on Tuesday, December 18th. ValuEngine upgraded shares of Netflix from a hold rating to a buy rating in a research report on Monday, January 7th. Finally, Goldman Sachs Group reissued a buy rating and set a $400.00 price objective on shares of Netflix in a research note on Tuesday, January 15th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $385.03.

NFLX opened at $362.75 on Wednesday. Netflix has a 1-year low of $231.23 and a 1-year high of $423.21. The company has a quick ratio of 0.61, a current ratio of 0.61 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $161.97 billion, a price-to-earnings ratio of 135.35, a P/E/G ratio of 3.83 and a beta of 1.33.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, April 16th. The Internet television network reported $0.76 EPS for the quarter, topping the consensus estimate of $0.57 by $0.19. Netflix had a net margin of 7.61% and a return on equity of 24.75%. The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.50 billion. During the same quarter in the previous year, the company earned $0.64 EPS. Netflix’s revenue was up 22.2% on a year-over-year basis. As a group, equities research analysts forecast that Netflix will post 3.35 EPS for the current year.

In other news, Director Anne M. Sweeney sold 7,607 shares of the business’s stock in a transaction on Tuesday, February 12th. The shares were sold at an average price of $360.00, for a total value of $2,738,520.00. Following the sale, the director now owns 444 shares of the company’s stock, valued at $159,840. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Anne M. Sweeney sold 342 shares of the business’s stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $360.00, for a total transaction of $123,120.00. Following the completion of the sale, the director now directly owns 342 shares in the company, valued at approximately $123,120. The disclosure for this sale can be found here. In the last ninety days, insiders sold 173,440 shares of company stock worth $63,555,861. Insiders own 4.29% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc lifted its position in shares of Netflix by 59.3% in the fourth quarter. Versant Capital Management Inc now owns 94 shares of the Internet television network’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. Clarfeld Financial Advisors LLC acquired a new position in Netflix during the fourth quarter worth $27,000. Pearl River Capital LLC acquired a new position in Netflix during the fourth quarter worth $30,000. NuWave Investment Management LLC increased its holdings in Netflix by 338.5% during the fourth quarter. NuWave Investment Management LLC now owns 114 shares of the Internet television network’s stock worth $31,000 after buying an additional 88 shares during the last quarter. Finally, Citizens Financial Group Inc RI increased its holdings in Netflix by 750.0% during the fourth quarter. Citizens Financial Group Inc RI now owns 136 shares of the Internet television network’s stock worth $36,000 after buying an additional 120 shares during the last quarter. 76.02% of the stock is currently owned by institutional investors and hedge funds.

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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