Netflix Inc. (NFLX) Rating Reiterated by Needham & Company LLC
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “hold” rating reissued by Needham & Company LLC in a report issued on Wednesday.
Several other research firms have also weighed in on NFLX. Bank of America Corp. reiterated a “buy” rating and set a $146.00 target price on shares of Netflix in a research note on Friday, August 26th. Wedbush boosted their target price on shares of Netflix from $45.00 to $50.00 and gave the company an “underperform” rating in a research note on Tuesday, July 19th. Vetr lowered shares of Netflix from a “strong-buy” rating to a “buy” rating and set a $102.41 target price for the company. in a research note on Wednesday, July 27th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $122.00 target price on shares of Netflix in a research note on Wednesday, September 7th. Finally, Zacks Investment Research upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $105.00 target price for the company in a research note on Tuesday, June 21st. Eight research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-eight have assigned a buy rating to the company. Netflix currently has a consensus rating of “Hold” and a consensus price target of $110.32.
Shares of Netflix (NASDAQ:NFLX) traded down 1.08% during trading on Wednesday, hitting $99.50. 7,424,120 shares of the stock were exchanged. The stock has a market cap of $42.66 billion, a P/E ratio of 310.94 and a beta of 1.14. The stock has a 50-day moving average of $98.56 and a 200 day moving average of $96.35. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27.
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Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. The business earned $2.11 billion during the quarter, compared to analyst estimates of $2.11 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. Equities analysts predict that Netflix will post $0.28 earnings per share for the current fiscal year.
In other news, Director Jay C. Hoag purchased 600,000 shares of Netflix stock in a transaction that occurred on Monday, July 25th. The stock was acquired at an average cost of $86.43 per share, for a total transaction of $51,858,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Reed Hastings sold 116,431 shares of the business’s 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 completion of the sale, the chief executive officer now owns 116,431 shares of the company’s stock, valued at $10,081,760.29. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. purchased a new stake in Netflix during the first quarter valued at about $2,142,000. Menta Capital LLC increased its stake in Netflix by 225.0% in the first quarter. Menta Capital LLC now owns 10,833 shares of the Internet television network’s stock valued at $1,107,000 after buying an additional 7,500 shares during the period. M&T Bank Corp increased its stake in Netflix by 5.6% in the first quarter. M&T Bank Corp now owns 32,482 shares of the Internet television network’s stock valued at $3,320,000 after buying an additional 1,737 shares during the period. Cannell Peter B & Co Inc increased its stake in Netflix by 15.5% in the first quarter. Cannell Peter B & Co Inc now owns 4,465 shares of the Internet television network’s stock valued at $456,000 after buying an additional 600 shares during the period. Finally, Aviva PLC increased its stake in Netflix by 2.0% in the first quarter. Aviva PLC now owns 224,856 shares of the Internet television network’s stock valued at $22,987,000 after buying an additional 4,389 shares during the period. Institutional investors and hedge funds own 78.43% of the company’s stock.
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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