Netflix (NASDAQ:NFLX) Price Target Cut to $690.00 by Analysts at UBS Group

Netflix (NASDAQ:NFLX) had its price objective cut by UBS Group from $720.00 to $690.00 in a research note issued to investors on Friday morning, The Fly reports.

A number of other equities research analysts have also weighed in on the stock. Stifel Nicolaus boosted their price objective on shares of Netflix from $650.00 to $690.00 and gave the company a buy rating in a report on Wednesday, October 20th. Credit Suisse Group set a $740.00 price target on shares of Netflix in a report on Wednesday, October 20th. Oppenheimer upped their price objective on shares of Netflix from $620.00 to $750.00 and gave the stock an outperform rating in a research report on Wednesday, October 20th. Deutsche Bank Aktiengesellschaft downgraded shares of Netflix from a buy rating to a hold rating and set a $590.00 price objective for the company. in a research report on Wednesday, October 20th. They noted that the move was a valuation call. Finally, Loop Capital upped their price target on shares of Netflix from $650.00 to $700.00 and gave the stock a buy rating in a research report on Monday, October 18th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-nine have issued a buy rating to the stock. Based on data from MarketBeat, Netflix presently has an average rating of Buy and a consensus target price of $666.06.

Netflix stock opened at $525.69 on Friday. The company has a 50 day moving average price of $616.58 and a 200-day moving average price of $590.85. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.17 and a current ratio of 1.17. Netflix has a fifty-two week low of $478.54 and a fifty-two week high of $700.99. The company has a market capitalization of $232.85 billion, a PE ratio of 47.36, a P/E/G ratio of 1.28 and a beta of 0.82.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, October 18th. The Internet television network reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.63. Netflix had a net margin of 17.64% and a return on equity of 38.03%. The company had revenue of $7.48 billion during the quarter, compared to the consensus estimate of $7.48 billion. During the same quarter in the previous year, the firm posted $1.74 earnings per share. Netflix’s revenue for the quarter was up 16.3% compared to the same quarter last year. On average, analysts forecast that Netflix will post 10.74 earnings per share for the current year.

In related news, Director Jay C. Hoag sold 2,472 shares of the business’s stock in a transaction dated Wednesday, November 17th. The shares were sold at an average price of $700.19, for a total transaction of $1,730,869.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Gregory K. Peters sold 7,329 shares of the business’s stock in a transaction dated Thursday, October 21st. The stock was sold at an average price of $650.00, for a total transaction of $4,763,850.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,792 shares of company stock worth $20,692,321. Insiders own 3.40% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Evermay Wealth Management LLC acquired a new position in Netflix during the second quarter worth about $35,000. Pacifica Partners Inc. raised its position in Netflix by 126.7% during the third quarter. Pacifica Partners Inc. now owns 68 shares of the Internet television network’s stock worth $40,000 after acquiring an additional 38 shares during the last quarter. Sugarloaf Wealth Management LLC raised its position in Netflix by 58.7% during the third quarter. Sugarloaf Wealth Management LLC now owns 73 shares of the Internet television network’s stock worth $45,000 after acquiring an additional 27 shares during the last quarter. Private Ocean LLC raised its position in Netflix by 70.5% during the third quarter. Private Ocean LLC now owns 75 shares of the Internet television network’s stock worth $46,000 after acquiring an additional 31 shares during the last quarter. Finally, Delos Wealth Advisors LLC acquired a new position in Netflix during the second quarter worth about $55,000. 80.41% of the stock is currently owned by hedge funds and other institutional investors.

About Netflix

Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.

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