Netflix Inc. (NFLX) Receives Buy Rating from Nomura
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “buy” rating restated by equities researchers at Nomura in a research note issued to investors on Thursday. They currently have a $130.00 price objective on the Internet television network’s stock. Nomura’s price objective points to a potential upside of 30.26% from the company’s previous close.
A number of other analysts have also issued reports on the stock. Wedbush set a $45.00 target price on shares of Netflix and gave the company a “sell” rating in a research note on Thursday, October 13th. Cowen and Company reissued an “outperform” rating and set a $110.00 target price on shares of Netflix in a research note on Wednesday, October 12th. Jefferies Group reissued an “underperform” rating and set a $76.00 target price on shares of Netflix in a research note on Wednesday, October 12th. Needham & Company LLC reissued a “hold” rating on shares of Netflix in a research note on Wednesday, October 12th. Finally, Vetr raised shares of Netflix from a “hold” rating to a “buy” rating and set a $106.17 target price for the company in a research note on Tuesday, October 11th. Seven equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $115.89.
Shares of Netflix (NASDAQ:NFLX) traded up 18.74% on Thursday, reaching $118.50. 22,128,033 shares of the company’s stock traded hands. The stock has a 50-day moving average of $98.99 and a 200 day moving average of $96.28. The firm has a market cap of $50.80 billion, a P/E ratio of 370.31 and a beta of 1.14. 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 posted its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 EPS for the quarter, topping the consensus estimate of $0.06 by $0.06. The company earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. Netflix’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.07 earnings per share. On average, equities research analysts expect that Netflix will post $0.28 earnings per share for the current year.
In related news, CEO Reed Hastings sold 116,431 shares of the stock in a transaction dated 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 700 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $93.87, for a total value of $65,709.00. Following the completion of the transaction, the director now directly owns 15,562 shares of the company’s stock, valued at approximately $1,460,804.94. The disclosure for this sale can be found here. 4.90% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of NFLX. NN Investment Partners Holdings N.V. acquired a new position in shares of Netflix during the first quarter worth approximately $2,142,000. Menta Capital LLC increased its position in shares of Netflix by 225.0% in the first quarter. Menta Capital LLC now owns 10,833 shares of the Internet television network’s stock worth $1,107,000 after buying an additional 7,500 shares in the last quarter. M&T Bank Corp increased its position in shares of Netflix by 5.6% in the first quarter. M&T Bank Corp now owns 32,482 shares of the Internet television network’s stock worth $3,320,000 after buying an additional 1,737 shares in the last quarter. Cannell Peter B & Co Inc increased its position in shares of 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 worth $456,000 after buying an additional 600 shares in the last quarter. Finally, Aviva PLC increased its position in shares of Netflix by 2.0% in the first quarter. Aviva PLC now owns 224,856 shares of the Internet television network’s stock worth $22,987,000 after buying an additional 4,389 shares in the last quarter. 78.41% of the stock is owned by hedge funds and other institutional investors.
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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