Cowen Trims Netflix (NASDAQ:NFLX) Target Price to $325.00

Netflix (NASDAQ:NFLX – Get Rating) had its price objective decreased by stock analysts at Cowen from $590.00 to $325.00 in a research report issued to clients and investors on Wednesday, The Fly reports. Cowen’s price target indicates a potential downside of 6.77% from the stock’s current price.

Several other analysts have also weighed in on NFLX. Jefferies Financial Group lowered Netflix from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $737.00 to $415.00 in a report on Monday, January 24th. Piper Sandler lowered Netflix from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $562.00 to $293.00 in a report on Wednesday. Monness Crespi & Hardt lowered Netflix from a “buy” rating to a “neutral” rating in a report on Friday, January 21st. Benchmark upgraded Netflix from a “sell” rating to a “hold” rating in a research report on Friday, January 21st. Finally, Rosenblatt Securities started coverage on Netflix in a research report on Tuesday. They set a “neutral” rating and a $354.00 target price for the company. Three analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Netflix currently has an average rating of “Hold” and a consensus target price of $417.44.

NFLX opened at $348.61 on Wednesday. The firm has a market capitalization of $154.88 billion, a P/E ratio of 31.02, a price-to-earnings-growth ratio of 1.26 and a beta of 0.97. The stock’s 50 day moving average price is $370.97 and its two-hundred day moving average price is $512.60. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.93. Netflix has a 12-month low of $329.82 and a 12-month high of $700.99.

Netflix (NASDAQ:NFLX – Get Rating) last released its earnings results on Tuesday, April 19th. The Internet television network reported $3.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.90 by $0.63. The firm had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.94 billion. Netflix had a return on equity of 35.34% and a net margin of 17.23%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.75 EPS. As a group, analysts anticipate that Netflix will post 10.86 earnings per share for the current year.

In other news, CEO Reed Hastings bought 46,900 shares of the firm’s stock in a transaction dated Thursday, January 27th. The shares were bought at an average price of $390.08 per share, with a total value of $18,294,752.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.68% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Oxinas Partners Wealth Management LLC increased its position in shares of Netflix by 100.9% in the first quarter. Oxinas Partners Wealth Management LLC now owns 1,764 shares of the Internet television network’s stock worth $661,000 after purchasing an additional 886 shares during the period. Profit Investment Management LLC grew its position in Netflix by 74.8% in the first quarter. Profit Investment Management LLC now owns 2,528 shares of the Internet television network’s stock valued at $946,000 after acquiring an additional 1,082 shares during the last quarter. Sigma Investment Counselors Inc. grew its position in Netflix by 3.3% in the first quarter. Sigma Investment Counselors Inc. now owns 5,406 shares of the Internet television network’s stock valued at $2,025,000 after acquiring an additional 173 shares during the last quarter. BLB&B Advisors LLC boosted its stake in shares of Netflix by 8.8% during the first quarter. BLB&B Advisors LLC now owns 620 shares of the Internet television network’s stock valued at $232,000 after purchasing an additional 50 shares in the last quarter. Finally, Great Valley Advisor Group Inc. boosted its stake in shares of Netflix by 47.3% during the first quarter. Great Valley Advisor Group Inc. now owns 5,453 shares of the Internet television network’s stock valued at $2,263,000 after purchasing an additional 1,752 shares in the last quarter. Institutional investors 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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