Netflix Inc. (NFLX) Earns Hold Rating from Needham & Company LLC
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “hold” rating reissued by research analysts at Needham & Company LLC in a note issued to investors on Tuesday.
NFLX has been the subject of several other reports. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $116.00 target price (down from $125.00) on shares of Netflix in a report on Tuesday, July 19th. MKM Partners lowered their target price on Netflix from $145.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, July 20th. Vetr raised Netflix from a “hold” rating to a “buy” rating and set a $103.71 target price for the company in a report on Thursday, September 8th. BMO Capital Markets reaffirmed a “market perform” rating and set a $85.00 target price on shares of Netflix in a report on Thursday, July 28th. Finally, Jefferies Group reaffirmed an “underperform” rating and set a $76.00 target price on shares of Netflix in a report on Friday, September 23rd. Seven analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $113.50.
Shares of Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. The firm has a market capitalization of $42.79 billion, a PE ratio of 311.88 and a beta of 1.14. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The stock has a 50 day moving average price of $98.99 and a 200 day moving average price of $96.28.
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Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.06. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Netflix’s revenue for the quarter was up 31.7% compared to the same quarter last year. Analysts predict that Netflix will post $0.28 EPS for the current fiscal year.
In related 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 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 approximately $10,081,760.29. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jay C. Hoag acquired 600,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was bought at an average cost of $86.43 per share, with a total value 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 institutional investors have recently modified their holdings of the stock. Capital Research Global Investors increased its position in shares of Netflix by 1.5% in the second quarter. Capital Research Global Investors now owns 49,967,802 shares of the Internet television network’s stock valued at $4,571,055,000 after buying an additional 761,325 shares during the last quarter. Vanguard Group Inc. increased its position in Netflix by 2.0% in the second quarter. Vanguard Group Inc. now owns 25,054,115 shares of the Internet television network’s stock valued at $2,291,951,000 after buying an additional 484,692 shares during the last quarter. Baillie Gifford & Co. increased its position in Netflix by 4.5% in the second quarter. Baillie Gifford & Co. now owns 7,316,440 shares of the Internet television network’s stock valued at $669,307,000 after buying an additional 314,275 shares during the last quarter. Capital World Investors increased its position in Netflix by 32.4% in the second quarter. Capital World Investors now owns 6,656,926 shares of the Internet television network’s stock valued at $608,976,000 after buying an additional 1,630,881 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Netflix by 2.4% in the first quarter. Geode Capital Management LLC now owns 3,450,527 shares of the Internet television network’s stock valued at $352,036,000 after buying an additional 79,246 shares during the last quarter. 78.41% of the stock is owned by institutional investors and hedge funds.
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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