Netflix Inc. (NFLX) Rating Increased to Buy at Vetr Inc.
Netflix Inc. (NASDAQ:NFLX) was upgraded by Vetr from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm currently has a $106.17 target price on the Internet television network’s stock. Vetr‘s price objective points to a potential upside of 5.58% from the company’s previous close.
NFLX has been the subject of a number of other reports. FBR & Co reissued a “market perform” rating and set a $90.00 target price on shares of Netflix in a research report on Wednesday, October 5th. Deutsche Bank AG started coverage on shares of Netflix in a research report on Monday. They set a “sell” rating and a $90.00 target price for the company. They noted that the move was a valuation call. Raymond James Financial Inc. set a $120.00 target price on shares of Netflix and gave the company a “buy” rating in a research report on Monday. Robert W. Baird reissued a “neutral” rating and set a $94.00 target price on shares of Netflix in a research report on Tuesday, October 4th. Finally, Zacks Investment Research downgraded shares of Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday, October 4th. Eight equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $110.32.
Shares of Netflix (NASDAQ:NFLX) traded down 2.65% on Tuesday, reaching $100.59. 9,032,854 shares of the company’s stock traded hands. The firm has a market cap of $43.13 billion, a P/E ratio of 314.34 and a beta of 1.14. The company’s 50-day moving average price is $98.56 and its 200 day moving average price is $96.35. Netflix has a one year low of $79.95 and a one year high of $133.27.
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Netflix (NASDAQ:NFLX) last issued 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. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The business earned $2.11 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the firm posted $0.06 EPS. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, equities analysts forecast that Netflix will post $0.28 EPS for the current fiscal year.
In other news, CEO Reed Hastings sold 116,431 shares of the stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $86.59, for a total value of $10,081,760.29. Following the sale, the chief executive officer now owns 116,431 shares of the company’s stock, valued at $10,081,760.29. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard N. Barton sold 700 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $93.87, for a total transaction of $65,709.00. Following the completion of the sale, the director now directly owns 15,562 shares in the company, valued at approximately $1,460,804.94. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Winslow Capital Management LLC purchased a new stake in shares of Netflix during the second quarter valued at $209,447,000. Capital World Investors increased 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 valued at $608,976,000 after buying an additional 1,630,881 shares in the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in shares of Netflix during the first quarter valued at $94,076,000. Capital Research Global Investors increased 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 valued at $4,571,055,000 after buying an additional 761,325 shares in the last quarter. Finally, Criterion Capital Management LLC increased 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 valued at $90,700,000 after buying an additional 701,119 shares in the last quarter. 78.43% of the stock is currently owned by institutional investors and hedge funds.
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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