Netflix, Inc. (NFLX) Given New $165.00 Price Target at Canaccord Genuity

Netflix, Inc. (NASDAQ:NFLX) had its price target upped by Canaccord Genuity from $160.00 to $165.00 in a report released on Tuesday morning. The firm currently has a buy rating on the Internet television network’s stock.

A number of other equities analysts have also commented on the stock. Bank of America Corp reissued a buy rating and issued a $184.00 price target (up previously from $154.00) on shares of Netflix in a report on Tuesday. Cantor Fitzgerald increased their target price on shares of Netflix from $160.00 to $165.00 and gave the company an overweight rating in a report on Tuesday. Stifel Nicolaus increased their target price on shares of Netflix from $155.00 to $170.00 and gave the company a buy rating in a report on Tuesday. Wedbush increased their target price on shares of Netflix from $68.00 to $73.00 and gave the company an underperform rating in a report on Tuesday. Finally, FBR & Co increased their target price on shares of Netflix from $144.00 to $145.00 and gave the company a mkt perform rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty-seven have issued a buy rating to the company. The stock has an average rating of Buy and an average target price of $143.29.

Netflix (NASDAQ:NFLX) traded down 1.1998% during trading on Tuesday, hitting $141.6399. 2,157,733 shares of the stock were exchanged. Netflix has a 52 week low of $84.50 and a 52 week high of $148.29. The firm has a market cap of $60.96 billion, a PE ratio of 329.3951 and a beta of 1.27. The firm’s 50-day moving average is $143.57 and its 200 day moving average is $130.55. Netflix also was the recipient of unusually large options trading activity on Monday. Stock investors bought 7,517 call options on the company. This is an increase of approximately 122% compared to the typical daily volume of 3,386 call options.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, April 17th. The Internet television network reported $0.40 EPS for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.03. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. Netflix had a net margin of 2.11% and a return on equity of 7.51%. The business’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 EPS. Analysts expect that Netflix will post $1.11 earnings per share for the current fiscal year.

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In related news, insider Tawni Cranz sold 2,170 shares of the 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 completion of the transaction, the insider now directly owns 2,170 shares of the company’s stock, valued at approximately $312,979.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gregory K. Peters sold 16,667 shares of the stock in a transaction that occurred on Thursday, January 19th. The shares were sold at an average price of $142.45, for a total transaction of $2,374,214.15. Following the completion of the transaction, the insider now directly owns 21,756 shares of the company’s stock, valued at $3,099,142.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 249,948 shares of company stock valued at $35,983,225. Insiders own 4.90% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Matrix Capital Management Company LP bought a new position in shares of Netflix during the third quarter valued at approximately $394,732,000. Viking Global Investors LP raised its position in shares of 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 valued at $800,901,000 after buying an additional 3,834,045 shares during the last quarter. Norges Bank bought a new position in shares of Netflix during the fourth quarter valued at approximately $357,283,000. Capital Research Global Investors raised its position in shares of 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 valued at $5,099,507,000 after buying an additional 1,777,574 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in shares of Netflix during the fourth quarter valued at approximately $136,861,000. 80.42% of the stock is owned by hedge funds and other 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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