Netflix Upgraded to “Overweight” at Evercore Partners (NFLX)

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Netflix (NASDAQ:NFLX) was upgraded by equities research analysts at Evercore Partners from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $500.00 target price on the stock, up from their previous target price of $400.00. Evercore Partners’ price target would suggest a potential upside of 16.74% from the stock’s previous close.

Shares of Netflix (NASDAQ:NFLX) opened at 428.29 on Monday. Netflix has a 52-week low of $205.75 and a 52-week high of $458.00. The stock’s 50-day moving average is $369.4 and its 200-day moving average is $380.3. The company has a market cap of $25.672 billion and a P/E ratio of 159.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, April 21st. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the company posted $0.31 earnings per share. The company’s revenue for the quarter was up 24.0% on a year-over-year basis. Analysts expect that Netflix will post $4.16 EPS for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at S&P Equity Research reiterated a “hold” rating on shares of Netflix in a research note on Friday, June 6th. Separately, analysts at Topeka Capital Markets raised their price target on shares of Netflix from $421.00 to $517.00 in a research note on Friday, June 6th. They now have a “buy” rating on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Netflix from $435.00 to $500.00 in a research note on Monday, June 2nd. They now have an “outperform” rating on the stock. Four analysts have rated the stock with a sell rating, twenty have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $388.82.

In other Netflix news, Insider Neil D. Hunt sold 5,000 shares of the stock on the open market in a transaction dated Monday, June 2nd. The shares were sold at an average price of $419.48, for a total transaction of $2,097,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Netflix, Inc is an Internet television network with more than 33 million members in over 40 countries.

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