Stock analysts at Citigroup Inc. set a $390.00 price objective on shares of Netflix (NASDAQ:NFLX) stock in a report issued on Wednesday, AmericanBankingNews.com reports. The firm currently has a a “neutral” rating on the stock. Citigroup Inc.’s target price points to a potential upside of 7.41% from the company’s current price.
The analysts wrote, “As discussed in detail in ‘TV is Dead. Long Live TV.’, Citi’s global media team established a framework to evaluate the extent to which key countries are at risk of web-based video delivery disrupting the existing pay TV ecosystem. This framework scores each country based on a number key variables like Internet penetration & speeds, datacaps and pay TV penetration.”
A number of other firms have also recently commented on NFLX. Analysts at TheStreet reiterated a “hold” rating on shares of Netflix in a research note to investors on Monday. Separately, analysts at Zacks upgraded shares of Netflix from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, December 5th. They now have a $428.00 price target on the stock. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $320.64.
Shares of Netflix (NASDAQ:NFLX) traded up 0.84% during mid-day trading on Wednesday, hitting $366.135. The stock had a trading volume of 2,179,677 shares. Netflix has a 1-year low of $85.94 and a 1-year high of $389.16. The stock has a 50-day moving average of $341.7 and a 200-day moving average of $284.9. The company has a market cap of $21.696 billion and a price-to-earnings ratio of 303.85.
Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, October 21st. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.48 by $0.04. The company had revenue of $905.00 billion for the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter in the prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was up 22.2% on a year-over-year basis. On average, analysts predict that Netflix will post $1.76 earnings per share for the current fiscal year.
Netflix, Inc (NASDAQ:NFLX), incorporated on August 29, 1997, is an Internet subscription service streaming television shows and movies.
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