Axiom Securities Increases Netflix Inc. (NFLX) Price Target to $84.00
Netflix Inc. (NASDAQ:NFLX) had its target price upped by Axiom Securities from $80.00 to $84.00 in a research note issued on Tuesday. The firm presently has a “sell” rating on the Internet television network’s stock. Axiom Securities’ price objective indicates a potential downside of 15.83% from the company’s current price.
A number of other brokerages have also recently commented on NFLX. FBR & Co reaffirmed a “market perform” rating and issued a $90.00 target price on shares of Netflix in a report on Wednesday, October 5th. Deutsche Bank AG began coverage on shares of Netflix in a research report on Monday, October 10th. They issued a “sell” rating and a $90.00 price objective on the stock. They noted that the move was a valuation call. Raymond James Financial Inc. set a $120.00 price objective on shares of Netflix and gave the company a “buy” rating in a research report on Monday, October 10th. Vetr lowered shares of Netflix from a “buy” rating to a “hold” rating and set a $105.94 price objective on the stock. in a research report on Monday, October 3rd. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $94.00 price objective on shares of Netflix in a research report on Tuesday, October 4th. Seven research analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-eight have given a buy rating to the stock. Netflix currently has a consensus rating of “Hold” and a consensus price target of $115.76.
Shares of Netflix (NASDAQ:NFLX) traded up 19.55% during midday trading on Tuesday, hitting $119.31. 29,322,422 shares of the stock were exchanged. The firm has a market cap of $51.15 billion, a PE ratio of 372.84 and a beta of 1.14. The firm has a 50-day moving average price of $98.99 and a 200 day moving average price of $96.28. 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 announced its earnings results on Monday, October 17th. The Internet television network reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The company’s quarterly revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 EPS. Analysts predict that Netflix will post $0.28 earnings per share for the current fiscal year.
In related news, CEO Reed Hastings sold 116,431 shares of the 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 completion of the transaction, the chief executive officer now owns 116,431 shares in the company, valued at approximately $10,081,760.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag purchased 600,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The stock was bought at an average price of $86.43 per share, with a total value of $51,858,000.00. The disclosure for this purchase can be found here. Corporate insiders own 4.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. raised its position in 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 acquired a new stake in shares of Netflix during the second quarter valued at about $124,000. Quadrant Capital Group LLC increased 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 valued at $126,000 after buying an additional 194 shares in the last quarter. Coconut Grove Bank increased 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 valued at $140,000 after buying an additional 26 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased 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 valued at $155,000 after buying an additional 224 shares in the last quarter. Institutional investors and hedge funds own 78.41% of the company’s stock.
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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