Netflix (NASDAQ:NFLX) Price Target Cut to $325.00 by Analysts at Cowen

Netflix (NASDAQ:NFLXGet Rating) had its price target dropped by Cowen from $590.00 to $325.00 in a research report issued on Wednesday, Stock Target Advisor reports. The brokerage presently has an “outperform” rating on the Internet television network’s stock. Cowen’s target price would suggest a potential upside of 44.99% from the company’s current price.

A number of other equities analysts also recently weighed in on NFLX. KeyCorp lowered their target price on shares of Netflix from $725.00 to $620.00 and set an “overweight” rating on the stock in a report on Tuesday, January 11th. Rosenblatt Securities began coverage on shares of Netflix in a research report on Tuesday. They set a “neutral” rating and a $354.00 price objective for the company. Macquarie cut shares of Netflix from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $615.00 to $395.00 in a research report on Friday, January 21st. Morgan Stanley reduced their price objective on shares of Netflix from $450.00 to $425.00 and set an “equal weight” rating for the company in a research report on Thursday, April 14th. Finally, Robert W. Baird reduced their target price on shares of Netflix from $420.00 to $260.00 in a research report on Wednesday. Three investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $396.38.

Shares of NASDAQ NFLX traded down $124.46 during midday trading on Wednesday, reaching $224.15. The company’s stock had a trading volume of 3,049,853 shares, compared to its average volume of 7,788,390. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93. Netflix has a fifty-two week low of $329.82 and a fifty-two week high of $700.99. The stock has a market capitalization of $99.58 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 1.26 and a beta of 0.97. The stock has a 50 day simple moving average of $370.97 and a 200-day simple moving average of $512.60.

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

In other Netflix news, CEO Reed Hastings bought 46,900 shares of the firm’s stock in a transaction dated Thursday, January 27th. The stock was purchased at an average cost of $390.08 per share, with a total value of $18,294,752.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.68% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Netflix by 2.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 630 shares of the Internet television network’s stock worth $385,000 after acquiring an additional 15 shares during the period. Larson Financial Group LLC grew its stake in shares of Netflix by 4.3% during the 3rd quarter. Larson Financial Group LLC now owns 360 shares of the Internet television network’s stock worth $220,000 after acquiring an additional 15 shares during the period. Ridgecrest Wealth Partners LLC grew its stake in shares of Netflix by 2.3% during the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 697 shares of the Internet television network’s stock worth $426,000 after acquiring an additional 16 shares during the period. Private Portfolio Partners LLC grew its stake in shares of Netflix by 1.9% during the 3rd quarter. Private Portfolio Partners LLC now owns 984 shares of the Internet television network’s stock worth $601,000 after acquiring an additional 18 shares during the period. Finally, Regent Peak Wealth Advisors LLC grew its stake in shares of Netflix by 1.5% during the 3rd quarter. Regent Peak Wealth Advisors LLC now owns 1,180 shares of the Internet television network’s stock worth $720,000 after acquiring an additional 18 shares during the period. Institutional investors own 81.37% of the company’s stock.

Netflix Company Profile (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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