Netflix Inc. (NFLX) Price Target Cut to $90.00 by Analysts at FBR & Co
Netflix Inc. (NASDAQ:NFLX) had its target price decreased by analysts at FBR & Co from $100.00 to $90.00 in a research note issued on Tuesday. The firm presently has a “mkt perform” rating on the Internet television network’s stock. FBR & Co’s target price suggests a potential downside of 24.24% from the company’s previous close.
Several other equities research analysts have also recently commented on NFLX. Nomura reaffirmed a “buy” rating and issued a $115.00 price target (down previously from $125.00) on shares of Netflix in a report on Monday, June 20th. Zacks Investment Research upgraded Netflix from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Tuesday, June 21st. Sanford C. Bernstein reiterated an “underperform” rating and issued a $62.00 price objective on shares of Netflix in a research report on Wednesday, June 22nd. Cantor Fitzgerald reiterated a “buy” rating and issued a $140.00 price objective on shares of Netflix in a research report on Thursday, June 23rd. Finally, Pacific Crest reiterated a “buy” rating and issued a $130.00 price objective on shares of Netflix in a research report on Wednesday, June 22nd. Eight research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $115.93.
Netflix (NASDAQ:NFLX) traded up 19.03% on Tuesday, hitting $118.79. The stock had a trading volume of 42,168,221 shares. The firm’s 50-day moving average is $99.60 and its 200-day moving average is $96.38. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27. The company has a market cap of $50.93 billion, a P/E ratio of 371.22 and a beta of 1.14.
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Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 EPS for the quarter, beating the 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 earned $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the firm earned $0.07 earnings per share. The business’s revenue for the quarter was up 31.7% on a year-over-year basis. Equities research analysts anticipate that Netflix will post $0.28 earnings per share for the current fiscal year.
In other Netflix news, Director Jay C. Hoag acquired 600,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were purchased at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction of $10,081,760.29. Following the sale, the chief executive officer now owns 116,431 shares in the company, valued at approximately $10,081,760.29. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Cornerstone Advisors Inc. raised its stake in 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 during the period. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Netflix during the second quarter valued at approximately $124,000. Quadrant Capital Group LLC raised 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 during the last quarter. Coconut Grove Bank raised 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 during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised 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 during the last quarter. Hedge funds and other institutional investors own 78.41% 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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