Netflix (NASDAQ:NFLX) had its price objective hoisted by equities researchers at Canaccord Genuity from $500.00 to $550.00 in a research note issued on Wednesday, Briefing.com Automated Import reports. The brokerage currently has a "buy" rating on the Internet television network's stock. Canaccord Genuity's price objective would suggest a potential upside of 21.33% from the stock's current price.
NFLX has been the subject of several other reports. Benchmark lifted their target price on Netflix from $327.00 to $340.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 22nd. Imperial Capital lifted their target price on Netflix from $485.00 to $489.00 and gave the stock an "outperform" rating in a research note on Thursday, June 18th. SunTrust Banks reiterated a "buy" rating on shares of Netflix in a research note on Wednesday, June 17th. Jefferies Financial Group restated a "buy" rating and issued a $520.00 price target on shares of Netflix in a research note on Wednesday, June 17th. Finally, Morgan Stanley boosted their price target on Netflix from $450.00 to $485.00 and gave the company an "overweight" rating in a research note on Thursday, April 23rd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have issued a buy rating to the company's stock. The company presently has a consensus rating of "Buy" and a consensus target price of $438.19.
NASDAQ:NFLX opened at $453.32 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 1.69. Netflix has a twelve month low of $252.28 and a twelve month high of $474.01. The stock's 50 day moving average price is $435.99 and its two-hundred day moving average price is $381.02. The firm has a market capitalization of $200.13 billion, a price-to-earnings ratio of 92.11, a price-to-earnings-growth ratio of 2.32 and a beta of 0.94.
Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, April 21st. The Internet television network reported $1.57 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $1.64 by ($0.07). Netflix had a return on equity of 30.83% and a net margin of 10.43%. The business had revenue of $5.77 billion for the quarter, compared to the consensus estimate of $5.75 billion. During the same quarter in the prior year, the firm posted $0.76 earnings per share. The business's revenue was up 27.6% compared to the same quarter last year. As a group, analysts anticipate that Netflix will post 6.43 earnings per share for the current year.
In other Netflix news, CEO Reed Hastings sold 57,260 shares of the company's stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $462.40, for a total value of $26,477,024.00. Following the completion of the transaction, the chief executive officer now owns 57,260 shares of the company's stock, valued at approximately $26,477,024. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Anne M. Sweeney sold 1,500 shares of the company's stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $450.00, for a total value of $675,000.00. Following the completion of the transaction, the director now directly owns 300 shares of the company's stock, valued at approximately $135,000. The disclosure for this sale can be found here. Insiders have sold a total of 182,024 shares of company stock valued at $81,700,274 in the last three months. 3.40% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of NFLX. Norges Bank acquired a new position in Netflix in the 4th quarter worth about $1,195,984,000. Capital International Investors increased its holdings in Netflix by 27.3% in the 1st quarter. Capital International Investors now owns 13,695,433 shares of the Internet television network's stock worth $5,142,631,000 after purchasing an additional 2,936,451 shares in the last quarter. Capital Research Global Investors increased its holdings in Netflix by 7.7% in the 4th quarter. Capital Research Global Investors now owns 38,002,047 shares of the Internet television network's stock worth $12,296,322,000 after purchasing an additional 2,713,207 shares in the last quarter. Wellington Management Group LLP increased its holdings in Netflix by 181.8% in the 1st quarter. Wellington Management Group LLP now owns 3,373,506 shares of the Internet television network's stock worth $1,266,751,000 after purchasing an additional 2,176,569 shares in the last quarter. Finally, Capital World Investors increased its holdings in Netflix by 13.1% in the 4th quarter. Capital World Investors now owns 14,480,179 shares of the Internet television network's stock worth $4,685,351,000 after purchasing an additional 1,682,813 shares in the last quarter. 82.35% of the stock is owned by institutional investors and hedge funds.
Netflix Company Profile
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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The Next 5 Retailers on the Edge of Bankruptcy
Through no fault of theirs, the novel coronavirus has put some retailers on the edge of bankruptcy. And as you’ve seen, many have fallen over that edge including iconic names like Nieman Marcus, J.C. Penney and J.Crew.
In fact, according to the American Bankruptcy Institute, there were 560 commercial Chapter 11 filings in April. That was a 26% increase over last year. And executive director, Amy Quakenboss, suggests that there are more to come.
“As financial challenges continue to escalate amid this crisis,” observes Quakenboss, “bankruptcy is sure to offer a financial safe harbor from the economic storm.”
With no revenue walking through the door, many retailers are seeing a semblance of revenue from e-commerce sales. But for some retailers, the shutdown is more impactful because they didn’t have a strong e-commerce structure. That means that they rely more than others on brick-and-mortar sales.
The real question now is will there really be the pent-up demand that some analysts still swear is just waiting to be unleashed. It may indeed exist. Time will tell. But time is not a commodity many of these retailers have. And we’ve identified five retailers for which the clock is not in their favor.
View the "The Next 5 Retailers on the Edge of Bankruptcy".