Netflix Inc. (NFLX) Price Target Cut to $90.00 by Analysts at FBR & Co
Netflix Inc. (NASDAQ:NFLX) had its price target dropped by investment analysts at FBR & Co from $100.00 to $90.00 in a report issued on Tuesday. The firm currently has a “mkt perform” rating on the Internet television network’s stock. FBR & Co’s price target suggests a potential downside of 24.24% from the stock’s previous close.
Several other equities analysts also recently weighed in on the stock. Deutsche Bank AG initiated coverage on shares of Netflix in a report on Monday, October 10th. They set a “sell” rating and a $90.00 target price for the company. They noted that the move was a valuation call. Raymond James Financial Inc. set a $120.00 target price on shares of Netflix and gave the company a “buy” rating in a report on Monday, October 10th. Vetr downgraded shares of Netflix from a “buy” rating to a “hold” rating and set a $105.94 target price for the company. in a report on Monday, October 3rd. Robert W. Baird restated a “neutral” rating and set a $94.00 target price on shares of Netflix in a report on Tuesday, October 4th. Finally, Zacks Investment Research downgraded shares of Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Eight research 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 company. The company presently has a consensus rating of “Hold” and an average target price of $115.72.
Netflix (NASDAQ:NFLX) traded up 19.03% during trading on Tuesday, reaching $118.79. 42,168,221 shares of the company were exchanged. The stock has a 50 day moving average price of $99.60 and a 200 day moving average price of $96.38. The firm has a market capitalization of $50.93 billion, a PE ratio of 371.22 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 announced its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.06. The business earned $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The business’s revenue was up 31.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 EPS. On average, analysts expect that Netflix will post $0.28 EPS for the current fiscal year.
In other news, Director Richard N. Barton sold 700 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $93.87, for a total value of $65,709.00. Following the completion of the sale, the director now directly owns 15,562 shares of the company’s stock, valued at $1,460,804.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay C. Hoag acquired 600,000 shares of Netflix stock in a transaction dated Monday, July 25th. The stock was acquired 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 owned by insiders.
Large investors have recently bought and sold shares of the stock. Allen Investment Management LLC boosted its stake in Netflix by 2.6% in the first quarter. Allen Investment Management LLC now owns 30,941 shares of the Internet television network’s stock valued at $3,163,000 after buying an additional 778 shares in the last quarter. Adage Capital Partners GP L.L.C. boosted its stake in Netflix by 69.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 645,960 shares of the Internet television network’s stock valued at $66,036,000 after buying an additional 265,678 shares in the last quarter. National Pension Service boosted its stake in Netflix by 4.2% in the first quarter. National Pension Service now owns 215,392 shares of the Internet television network’s stock valued at $22,020,000 after buying an additional 8,623 shares in the last quarter. Hancock Holding Co. boosted its stake in Netflix by 14.2% in the first quarter. Hancock Holding Co. now owns 120,712 shares of the Internet television network’s stock valued at $12,340,000 after buying an additional 15,029 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake 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 in the last quarter. 78.41% of the stock is owned by institutional investors.
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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