In a report released today, Eric Sheridan from Goldman Sachs maintained a Hold rating on Netflix (NFLX – Research Report), with a price target of $595.00. The company’s shares closed last Wednesday at $624.34, close to its 52-week high of $646.84.
According to TipRanks.com, Sheridan is a top 100 analyst with an average return of 24.1% and a 74.0% success rate. Sheridan covers the Technology sector, focusing on stocks such as Spotify Technology SA, Uber Technologies, and Playtika Holding.
Netflix has an analyst consensus of Moderate Buy, with a price target consensus of $679.78, which is an 8.7% upside from current levels. In a report released today, Rosenblatt Securities also reiterated a Hold rating on the stock with a $450.00 price target.
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Based on Netflix’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $7.34 billion and net profit of $1.35 billion. In comparison, last year the company earned revenue of $6.15 billion and had a net profit of $720 million.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NFLX in relation to earlier this year.
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Netflix, Inc. is a subscription-based streaming service through which members can view TV shows, documentaries and movies on any internet-connected device. The company also offers its DVD-by-mail service in the United States. Founded by Marc Randolph and Wilmot Reed Hastings Jr., on August 29, 1997, Netflix is headquartered in Los Gatos, CA.
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