Economy

Netflix stock surges past $200 for first time

Netflix stock surges past $200 for first time

The reason for the recent rise in the share prices of Netflix was multiple top analysts on Wall Street raising their forecasts for the price of the shares of the USA entertainment giant. Jennison Associates LLC now owns 14,784,089 shares of the Internet television network's stock worth $2,208,891,000 after purchasing an additional 1,814,056 shares in the last quarter. Earnings per share is generally reported in annualized form from the most recent fiscal year.

A number of other research firms also recently commented on NFLX.

Castleark Management Llc increased its stake in Netflix Inc (NFLX) by 40.11% based on its latest 2017Q2 regulatory filing with the SEC. During the same quarter previous year, the company posted $0.09 EPS. Glaxis Cap Management Ltd Liability Co holds 2,000 shares or 0.58% of its portfolio. M Holdings Securities Inc. increased its position in shares of Netflix by 0.5% during the first quarter. Heritage Investors Management Corp increased its stake in shares of Netflix by 0.6% during the 2nd quarter. Guardian Life Insurance Co. of America now owns 1,655 shares of the Internet television network's stock worth $245,000 after acquiring an additional 11 shares during the period. Institutional investors and hedge funds own 80.42% of the company's stock. Looking at the stock's movement on the chart, Netflix, Inc. recorded a 52-week high of $199.40. The stock had a trading volume of 6,550,953 shares.

Here we'll take a quick glance at how the stock price is now trading in relation to some of its simple moving averages. The stock has a market capitalization of $86.18 billion, a PE ratio of 242.83 and a beta of 1.09. The Lower end of the earnings estimate is $0.18, while the higher end of the earnings estimate is $0.52. (NASDAQ:NFLX) to report earnings on October, 16.

Now the return on equity is 12.80% and its debt to equity is 1.55. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion.

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Terry takes heart in the fact the company is raising prices on some plans, arguing that people won't "churn off" the service as much as they did during the "un-grandfathering" that happened previous year, because it's happening "during a period of heavy content consumption". Netflix's revenue was up 32.3% on a year-over-year basis.

Netflix, Inc. (NFLX) has a Return on Assets of 2.5 percent, Return on Investment of 5 percent and a Return on Equity of 12.8 percent.

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In other Netflix news, insider Jonathan Friedland sold 2,496 shares of Netflix stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $188.61, for a total value of $20,598,852.54. Formidable Asset Management LLC now owns 4,695 shares of the Internet television network's stock valued at $582,000 after buying an additional 36 shares during the period. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 318,067 shares of company stock valued at $57,315,706. The stock was sold at an average price of $188.61, for a total transaction of $20,598,852.54. The disclosure for this sale can be found here. (The) in a research report issued on Friday.

October 12 investment analysts at Stifel Nicolaus maintained a company rating of "Buy" and raised the price expectation to $230.00 from $143.00. Buckingham Research reiterated a buy rating and set a $214.00 price objective on shares of Netflix in a research report on Monday. FBR Capital maintained it with "Mkt Perform" rating and $100 target in Tuesday, October 18 report. Six equity analysts rating the company a strong buy, seventeen equity analysts rating the company a buy, fifteen equity analysts rating the company a hold, three equity analysts rating the company a underperform, and finally two equity analysts rating the company a sell with a one year target of $117.22. The company presently has an average rating of "Buy" and an average price target of $147.59.