Netflix (NASDAQ:NFLX) Price Target Cut to $380.00

Netflix (NASDAQ:NFLX – Get Rating) had its price target reduced by Barclays from $425.00 to $380.00 in a note issued to investors on Wednesday, The Fly reports. Barclays‘s target price points to a potential upside of 10.43% from the stock’s previous close.

NFLX has been the subject of a number of other reports. Zacks Investment Research raised shares of Netflix from a “sell” rating to a “hold” rating and set a $402.00 price target for the company in a research note on Wednesday, March 23rd. Rosenblatt Securities reaffirmed a “hold” rating and set a $400.00 target price (down previously from $450.00) on shares of Netflix in a research note on Thursday, January 27th. BMO Capital Markets reduced their target price on Netflix from $700.00 to $650.00 and set an “outperform” rating on the stock in a research note on Friday, January 21st. Loop Capital restated a “buy” rating and issued a $700.00 price target on shares of Netflix in a report on Friday, January 14th. Finally, Guggenheim lowered their price target on Netflix from $720.00 to $555.00 and set a “buy” rating for the company in a report on Friday, January 21st. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Netflix has an average rating of “Hold” and an average target price of $537.69.

NASDAQ:NFLX opened at $344.10 on Wednesday. The firm has a market capitalization of $152.77 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 1.31 and a beta of 0.97. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.95 and a quick ratio of 0.95. The business has a 50 day simple moving average of $377.28 and a 200-day simple moving average of $521.56. Netflix has a 1 year low of $329.82 and a 1 year high of $700.99.

Netflix (NASDAQ:NFLX – Get Rating) last released its quarterly earnings results on Thursday, January 20th. The Internet television network reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.51. The company had revenue of $7.71 billion for the quarter, compared to analyst estimates of $7.71 billion. Netflix had a return on equity of 35.34% and a net margin of 17.23%. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.19 EPS. As a group, analysts expect that Netflix will post 10.87 earnings per share for the current fiscal year.

In related news, CEO Reed Hastings bought 46,900 shares of the business’s stock in a transaction that occurred on Thursday, January 27th. The shares were acquired at an average cost of $390.08 per share, with a total value of $18,294,752.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.68% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. Icapital Wealth LLC bought a new stake in Netflix in the 1st quarter worth about $25,000. Sageworth Trust Co bought a new stake in Netflix in the fourth quarter worth about $29,000. Andrew Hill Investment Advisors Inc. purchased a new stake in Netflix in the fourth quarter worth $30,000. Field & Main Bank bought a new stake in shares of Netflix in the fourth quarter valued at $30,000. Finally, Paragon Capital Management Ltd purchased a new position in shares of Netflix during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 81.37% of the company’s stock.

About Netflix (Get Rating)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.

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