Netflix Rating Lowered to Neutral at Zacks (NFLX)
Netflix (NASDAQ:NFLX) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Friday, StockRatingsNetwork reports. They currently have a $338.00 target price on the stock. Zacks‘ price target points to a potential upside of 5.06% from the stock’s previous close.
NFLX has been the subject of a number of other recent research reports. Analysts at MKM Partners reiterated a “buy” rating on shares of Netflix (NASDAQ:NFLX) in a research note to investors on Tuesday. They now have a $370.00 price target on the stock, up previously from $285.00. Separately, analysts at TheStreet reiterated a “hold” rating on shares of Netflix (NASDAQ:NFLX) in a research note to investors on Friday, September 27th. Finally, analysts at Albert Fried & Company raised their price target on shares of Netflix (NASDAQ:NFLX) from $80.00 to $122.00 in a research note to investors on Sunday, September 22nd. They now have an “underweight” rating on the stock. Six research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and seven have given a buy rating to the stock. Netflix currently has an average rating of “Hold” and a consensus target price of $235.01.
Netflix (NASDAQ:NFLX) traded up 1.03% during mid-day trading on Friday, hitting $325.03. The stock had a trading volume of 1,313,430 shares. Netflix has a 52-week low of $57.40 and a 52-week high of $334.50. The stock’s 50-day moving average is $294.9 and its 200-day moving average is $237.5. The company has a market cap of $19.151 billion and a P/E ratio of 400.65.
Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, July 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.11 earnings per share. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, analysts predict that Netflix will post $1.50 earnings per share for the current fiscal year.
In other Netflix news, CEO Reed Hastings sold 15,238 shares of the company’s stock on the open market in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $301.30, for a total transaction of $4,591,209.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Netflix, Inc (NASDAQ:NFLX), incorporated on August 29, 1997, is an Internet subscription service streaming television shows and movies.
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