Netflix’s (NFLX) “Underperform” Rating Reiterated at Jefferies Group
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “underperform” rating reissued by equities researchers at Jefferies Group in a report issued on Wednesday. They currently have a $76.00 target price on the Internet television network’s stock. Jefferies Group’s target price suggests a potential downside of 23.59% from the stock’s previous close.
NFLX has been the topic of a number of other reports. Needham & Company LLC reissued a “hold” rating on shares of Netflix in a research note on Wednesday. Vetr raised shares of Netflix from a “hold” rating to a “buy” rating and set a $106.17 price objective on the stock in a research note on Tuesday. Raymond James Financial Inc. set a $120.00 price objective on shares of Netflix and gave the company a “buy” rating in a research note on Monday. Deutsche Bank AG started coverage on shares of Netflix in a research note on Monday. They issued a “sell” rating and a $90.00 price objective on the stock. They noted that the move was a valuation call. Finally, FBR & Co reissued a “market perform” rating and issued a $90.00 price objective on shares of Netflix in a research note on Wednesday, October 5th. Eight equities research 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. Netflix presently has a consensus rating of “Hold” and an average target price of $110.32.
Netflix (NASDAQ:NFLX) traded down 1.08% on Wednesday, reaching $99.50. The company’s stock had a trading volume of 7,409,148 shares. Netflix has a 12 month low of $79.95 and a 12 month high of $133.27. The firm has a market cap of $42.66 billion, a P/E ratio of 310.94 and a beta of 1.14. The firm’s 50 day moving average is $98.56 and its 200-day moving average is $96.35.
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Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, July 18th. The Internet television network reported $0.09 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 company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period last year, the firm earned $0.06 earnings per share. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities research analysts anticipate that Netflix will post $0.28 EPS for the current year.
In related news, 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 sale, the chief executive officer now owns 116,431 shares in the company, valued at $10,081,760.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 price of $86.43 per share, for a total transaction of $51,858,000.00. The disclosure for this purchase can be found here. 4.90% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the company. Cornerstone Advisors Inc. boosted 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 valued at $102,000 after buying an additional 228 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Netflix during the second quarter worth $124,000. Quadrant Capital Group LLC boosted its position in 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 boosted its position in 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. boosted its position in 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. Institutional investors 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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