Netflix Downgraded to Underweight at Morgan Stanley (NFLX)
Netflix (NASDAQ:NFLX) was downgraded by research analysts at Morgan Stanley from an “equal weight” rating to an “underweight” rating in a report released on Tuesday, TheFlyOnTheWall.com reports. They currently have a $310.00 price target on the stock. Morgan Stanley’s price target suggests a potential downside of 6.67% from the company’s current price. The analysts noted that the move was a valuation call.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “hold” rating on shares of Netflix in a research note to investors on Tuesday, December 24th. Separately, analysts at Bank of America Corp. reiterated a “buy” rating on shares of Netflix in a research note to investors on Thursday, December 19th. Finally, analysts at Citigroup Inc. set a $390.00 price target on shares of Netflix in a research note to investors on Wednesday, December 11th. They now have a “neutral” rating on the stock. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $328.73.
Shares of Netflix (NASDAQ:NFLX) opened at 332.14 on Tuesday. Netflix has a one year low of $95.75 and a one year high of $389.16. The stock’s 50-day moving average is $361.9 and its 200-day moving average is $306.2. The company has a market cap of $19.682 billion and a P/E ratio of 282.05.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, October 21st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the 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 last year, the company posted $0.13 earnings per share. Netflix’s revenue was up 22.2% compared to the same quarter last year. 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.