Netflix Inc. (NFLX) Lowered to Hold at Vetr Inc.
Netflix Inc. (NASDAQ:NFLX) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a report issued on Monday. They currently have a $105.94 target price on the Internet television network’s stock. Vetr‘s price objective suggests a potential upside of 1.07% from the company’s previous close.
A number of other research firms have also recently issued reports on NFLX. Morgan Stanley reiterated a “buy” rating and set a $125.00 price objective on shares of Netflix in a research report on Monday, June 6th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $122.00 price objective on shares of Netflix in a research report on Wednesday, September 7th. Cantor Fitzgerald reiterated a “buy” rating on shares of Netflix in a research report on Friday, September 9th. Macquarie cut shares of Netflix from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $133.27 to $85.00 in a research report on Tuesday, September 13th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada restated a “buy” rating on shares of Netflix in a research report on Monday, July 18th. Seven analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-seven have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $110.97.
Shares of Netflix (NASDAQ:NFLX) traded down 0.24% during trading on Monday, hitting $104.82. 8,659,518 shares of the stock were exchanged. The firm’s 50 day moving average price is $98.20 and its 200-day moving average price is $96.33. The stock has a market cap of $44.94 billion, a P/E ratio of 327.56 and a beta of 1.14. Netflix has a 52 week low of $79.95 and a 52 week high of $133.27.
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Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. The business earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 EPS. On average, analysts predict that Netflix will post $0.28 EPS for the current year.
In other Netflix news, Director Richard N. Barton sold 700 shares of Netflix stock in a transaction dated Monday, July 11th. The stock was sold at an average price of $96.19, for a total value of $67,333.00. Following the transaction, the director now owns 15,562 shares in the company, valued at $1,496,908.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard N. Barton sold 2,800 shares of Netflix stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $104.27, for a total value of $291,956.00. Following the completion of the transaction, the director now owns 15,254 shares in the company, valued at approximately $1,590,534.58. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of NFLX. Foundry Partners LLC raised its position in Netflix by 7.2% in the third quarter. Foundry Partners LLC now owns 9,631 shares of the Internet television network’s stock valued at $949,000 after buying an additional 646 shares during the period. Fulton Bank N.A. raised its position in Netflix by 0.3% in the third quarter. Fulton Bank N.A. now owns 4,450 shares of the Internet television network’s stock valued at $439,000 after buying an additional 12 shares during the period. Eqis Capital Management Inc. raised its position in Netflix by 5.2% in the third quarter. Eqis Capital Management Inc. now owns 27,694 shares of the Internet television network’s stock valued at $2,729,000 after buying an additional 1,380 shares during the period. Macquarie Group Ltd. raised its position in Netflix by 34.9% in the second quarter. Macquarie Group Ltd. now owns 115,690 shares of the Internet television network’s stock valued at $10,583,000 after buying an additional 29,915 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Netflix during the second quarter valued at about $1,582,000. Institutional investors own 78.43% of the company’s stock.
Netflix Company Profile
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
To view Vetr’s full report, visit Vetr’s official website.
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