Netflix Inc. (NFLX) Coverage Initiated at Deutsche Bank AG
Equities researchers at Deutsche Bank AG started coverage on shares of Netflix Inc. (NASDAQ:NFLX) in a research report issued on Monday. The brokerage set a “sell” rating and a $90.00 price target on the Internet television network’s stock. Deutsche Bank AG’s price objective indicates a potential downside of 12.90% from the company’s current price. The analysts noted that the move was a valuation call.
Several other research analysts have also recently issued reports on the stock. FBR & Co reissued a “market perform” rating and set a $90.00 target price on shares of Netflix in a report on Wednesday, October 5th. SunTrust Banks Inc. reissued a “neutral” rating and set a $100.00 target price on shares of Netflix in a report on Wednesday, October 5th. Loop Capital assumed coverage on shares of Netflix in a report on Tuesday, October 4th. They set a “buy” rating and a $125.00 target price for the company. Robert W. Baird reissued a “neutral” rating and set a $94.00 target price on shares of Netflix in a report on Tuesday, October 4th. Finally, Zacks Investment Research cut shares of Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the stock. Netflix has a consensus rating of “Hold” and an average target price of $110.52.
Shares of Netflix (NASDAQ:NFLX) traded down 1.42% during mid-day trading on Monday, reaching $103.33. 6,695,028 shares of the company’s stock traded hands. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The company has a market cap of $44.30 billion, a P/E ratio of 322.91 and a beta of 1.14. The company’s 50 day moving average is $98.20 and its 200 day moving average is $96.33.
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Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.07. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The firm earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the company posted $0.06 earnings per share. The firm’s revenue was up 19.5% compared to the same quarter last year. On average, analysts predict that Netflix will post $0.28 EPS for the current fiscal year.
In related news, 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 transaction of $291,956.00. Following the sale, the director now directly owns 15,254 shares in the company, valued at $1,590,534.58. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard N. Barton sold 1,400 shares of Netflix stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $100.00, for a total transaction of $140,000.00. Following the sale, the director now owns 16,262 shares in the company, valued at $1,626,200. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.
Several large investors have recently modified their holdings of NFLX. Winslow Capital Management LLC bought a new stake in shares of Netflix during the second quarter worth $209,447,000. Capital World Investors boosted its stake in shares of Netflix by 32.4% in the second quarter. Capital World Investors now owns 6,656,926 shares of the Internet television network’s stock worth $608,976,000 after buying an additional 1,630,881 shares in the last quarter. Jericho Capital Asset Management L.P. bought a new stake in shares of Netflix during the first quarter worth $94,076,000. Capital Research Global Investors boosted its stake in shares of Netflix by 1.5% in the second quarter. Capital Research Global Investors now owns 49,967,802 shares of the Internet television network’s stock worth $4,571,055,000 after buying an additional 761,325 shares in the last quarter. Finally, Criterion Capital Management LLC boosted its stake in shares of Netflix by 241.5% in the second quarter. Criterion Capital Management LLC now owns 991,469 shares of the Internet television network’s stock worth $90,700,000 after buying an additional 701,119 shares in the last quarter. Institutional investors and hedge funds 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.
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