Netflix Inc. (NFLX) Receives “Underperform” Rating from Jefferies Group
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “underperform” rating restated by investment analysts at Jefferies Group in a note issued to investors on Wednesday. They presently have a $76.00 price target on the Internet television network’s stock. Jefferies Group’s price objective points to a potential downside of 23.59% from the company’s previous close.
Several other equities analysts have also recently issued reports on NFLX. Zacks Investment Research upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research report on Tuesday, June 21st. Nomura restated a “buy” rating and issued a $115.00 price target (down from $125.00) on shares of Netflix in a research report on Monday, June 20th. Vetr cut shares of Netflix from a “strong-buy” rating to a “buy” rating and set a $106.59 price target for the company. in a research report on Thursday, June 16th. Pacific Crest restated a “buy” rating and issued a $130.00 price target on shares of Netflix in a research report on Wednesday, June 22nd. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $140.00 price target on shares of Netflix in a research report on Thursday, June 23rd. Eight analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-eight have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $110.32.
Netflix (NASDAQ:NFLX) traded down 1.08% during midday trading on Wednesday, reaching $99.50. 7,409,150 shares of the company traded hands. The stock has a market capitalization of $42.66 billion, a P/E ratio of 310.94 and a beta of 1.14. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The company has a 50 day moving average of $98.56 and a 200-day moving average of $96.35.
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Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, July 18th. The Internet television network reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.07. The business earned $2.11 billion during the quarter, compared to the consensus estimate of $2.11 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 EPS. Equities analysts anticipate that Netflix will post $0.28 EPS for the current fiscal year.
In other Netflix news, CEO Reed Hastings sold 116,431 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $86.59, for a total transaction of $10,081,760.29. Following the completion of the sale, the chief executive officer now directly owns 116,431 shares of the company’s stock, valued at approximately $10,081,760.29. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard N. Barton sold 2,800 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $1,590,534.58. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. Cornerstone Advisors Inc. raised its stake in shares of Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock worth $102,000 after buying an additional 228 shares during the period. Signature Estate & Investment Advisors LLC bought a new stake in shares of Netflix during the second quarter worth about $124,000. Quadrant Capital Group LLC raised its stake in shares of Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock worth $126,000 after buying an additional 194 shares during the period. Coconut Grove Bank raised its stake in shares of Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock worth $140,000 after buying an additional 26 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock worth $155,000 after buying an additional 224 shares during the period. 78.43% of the stock is 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.
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