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Netflix (NASDAQ:NFLX) Now Covered by Analysts at The Goldman Sachs Group

Netflix logo” title=”Netflix” class=”companylogo”/>Equities researchers at The Goldman Sachs Group assumed coverage on shares of Netflix (NASDAQ:NFLX) in a report released on Monday, The Fly reports. The firm set a “neutral” rating and a $590.00 price target on the Internet television network’s stock. The Goldman Sachs Group’s price objective would suggest a potential downside of 1.46% from the stock’s current price.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Netflix from $625.00 to $705.00 and gave the company an “overweight” rating in a research report on Wednesday, September 8th. Credit Suisse Group upped their price objective on shares of Netflix from $586.00 to $643.00 and gave the company an “outperform” rating in a research report on Wednesday, July 21st. Morgan Stanley restated a “buy” rating and issued a $650.00 price objective on shares of Netflix in a research report on Friday, July 16th. Barclays set a $625.00 price objective on shares of Netflix in a research report on Wednesday, September 8th. Finally, Atlantic Securities upped their target price on shares of Netflix from $690.00 to $780.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 7th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Netflix currently has a consensus rating of “Buy” and a consensus target price of $616.79.

Shares of Netflix stock opened at $598.72 on Monday. The firm has a fifty day moving average of $540.81 and a two-hundred day moving average of $523.63. The stock has a market capitalization of $264.99 billion, a price-to-earnings ratio of 62.04, a PEG ratio of 1.88 and a beta of 0.76. Netflix has a 52 week low of $458.60 and a 52 week high of $615.60. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.23 and a current ratio of 1.23.

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Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, July 19th. The Internet television network reported $2.97 EPS for the quarter, missing the consensus estimate of $3.16 by ($0.19). The business had revenue of $7.34 billion for the quarter, compared to the consensus estimate of $7.32 billion. Netflix had a net margin of 15.92% and a return on equity of 36.49%. The business’s revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.59 EPS. As a group, research analysts forecast that Netflix will post 10.38 EPS for the current fiscal year.

In related news, Director Jay C. Hoag sold 939 shares of the stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $510.16, for a total transaction of $479,040.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jay C. Hoag sold 8,960 shares of the stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $513.41, for a total transaction of $4,600,153.60. Following the sale, the director now owns 1,498 shares in the company, valued at approximately $769,088.18. The disclosure for this sale can be found here. Insiders have sold 17,649 shares of company stock worth $9,729,194 over the last ninety days. Insiders own 3.40% of the company’s stock.

Several large investors have recently modified their holdings of the company. Schmidt P J Investment Management Inc. lifted its holdings in shares of Netflix by 3.1% during the second quarter. Schmidt P J Investment Management Inc. now owns 656 shares of the Internet television network’s stock worth $338,000 after purchasing an additional 20 shares during the period. Parcion Private Wealth LLC lifted its holdings in shares of Netflix by 1.3% during the second quarter. Parcion Private Wealth LLC now owns 1,609 shares of the Internet television network’s stock worth $850,000 after purchasing an additional 20 shares during the period. Purus Wealth Management LLC lifted its holdings in shares of Netflix by 2.8% during the second quarter. Purus Wealth Management LLC now owns 724 shares of the Internet television network’s stock worth $382,000 after purchasing an additional 20 shares during the period. LexAurum Advisors LLC lifted its holdings in shares of Netflix by 2.8% during the second quarter. LexAurum Advisors LLC now owns 732 shares of the Internet television network’s stock worth $387,000 after purchasing an additional 20 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in shares of Netflix by 1.4% during the second quarter. Proficio Capital Partners LLC now owns 1,436 shares of the Internet television network’s stock worth $759,000 after purchasing an additional 20 shares during the period. Institutional investors own 79.51% of the company’s stock.

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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Netflix (NASDAQ:NFLX) Now Covered by Analysts at The Goldman Sachs Group

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