Netflix Stock Rating Lowered by Morgan Stanley (NFLX)
Netflix (NASDAQ:NFLX) was downgraded by equities research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Thursday, ARN reports. They currently have a $300.00 price target on the stock. Morgan Stanley’s target price suggests a potential downside of 2.69% from the company’s current price. The analysts noted that the move was a valuation call.
A number of other analysts have also recently weighed in on NFLX. Analysts at BTIG Research downgraded shares of Netflix (NASDAQ:NFLX) from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday. They noted that the move was a valuation call. Separately, analysts at RBC Capital set a $330.00 price target on shares of Netflix (NASDAQ:NFLX) in a research note to investors on Thursday, September 5th. Finally, analysts at TheStreet reiterated a “hold” rating on shares of Netflix (NASDAQ:NFLX) in a research note to investors on Tuesday, September 3rd.
Six investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $227.90.
Netflix (NASDAQ:NFLX) opened at 308.30 on Thursday. Netflix has a 1-year low of $53.05 and a 1-year high of $314.18. The stock’s 50-day moving average is $267.5 and its 200-day moving average is $223.4. The company has a market cap of $18.166 billion and a price-to-earnings ratio of 383.94. Netflix also was the recipient of unusually large options trading on Tuesday. Stock investors purchased 67,643 call options on the stock. This is an increase of 105% compared to the average volume of 33,012 call options.
Netflix (NASDAQ:NFLX) last released its earnings data on Monday, July 22nd. The company reported $0.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.40 by $0.09. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company posted $0.11 earnings per share. Netflix’s revenue was up 20.2% compared to the same quarter last year. Analysts expect that Netflix will post $1.49 EPS 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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