Needham & Company LLC Reiterates “Hold” Rating for Netflix Inc. (NFLX)
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “hold” rating restated by analysts at Needham & Company LLC in a research report issued on Wednesday.
Several other research firms also recently commented on NFLX. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $116.00 target price (down previously from $125.00) on shares of Netflix in a report on Tuesday, July 19th. MKM Partners decreased their price target on shares of Netflix from $145.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, July 20th. Vetr raised shares of Netflix from a “hold” rating to a “buy” rating and set a $103.71 price target on the stock in a research note on Thursday, September 8th. BMO Capital Markets reaffirmed a “market perform” rating and set a $85.00 price target on shares of Netflix in a research note on Thursday, July 28th. Finally, Jefferies Group reaffirmed an “underperform” rating and set a $76.00 price target on shares of Netflix in a research note on Friday, September 23rd. Eight analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Netflix has a consensus rating of “Hold” and a consensus target price of $110.32.
Netflix (NASDAQ:NFLX) traded down 0.11% during midday trading on Wednesday, hitting $100.48. 3,588,809 shares of the stock traded hands. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27. The firm’s 50-day moving average is $98.56 and its 200-day moving average is $96.35. The company has a market cap of $43.08 billion, a price-to-earnings ratio of 314.00 and a beta of 1.14.
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Netflix (NASDAQ:NFLX) last released its earnings results on Monday, July 18th. The Internet television network reported $0.09 EPS for the quarter, topping the 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 had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. Analysts predict that Netflix will post $0.28 EPS for the current year.
In other Netflix news, CEO Reed Hastings sold 116,431 shares of the company’s stock in a transaction on Thursday, July 21st. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard N. Barton sold 2,800 shares of the company’s stock in a transaction on 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 sale, the director now directly 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.
Hedge funds have recently bought and sold shares of the stock. Grassi Investment Management purchased a new stake in Netflix during the third quarter valued at $207,000. Fisher Asset Management LLC purchased a new stake in Netflix during the third quarter valued at $229,000. Gradient Investments LLC raised its stake in Netflix by 5.3% in the third quarter. Gradient Investments LLC now owns 3,537 shares of the Internet television network’s stock valued at $349,000 after buying an additional 177 shares during the period. Canal Capital Management LLC purchased a new stake in Netflix during the third quarter valued at $317,000. Finally, Foundry Partners LLC raised its stake 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. 78.43% of the stock is currently owned by institutional investors.
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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