Netflix Inc. (NFLX) Given New $90.00 Price Target at Mizuho
Netflix Inc. (NASDAQ:NFLX) had its price target decreased by equities researchers at Mizuho from $112.00 to $90.00 in a report released on Tuesday, StockTargetPrices.com reports. The brokerage currently has a “neutral” rating on the Internet television network’s stock. Mizuho’s target price would indicate a potential downside of 9.82% from the company’s current price.
Several other research analysts have also weighed in on the stock. Jefferies Group reaffirmed a “hold” rating and set a $120.00 target price on shares of Netflix in a research note on Monday, July 11th. Cowen and Company reaffirmed an “outperform” rating and set a $110.00 target price on shares of Netflix in a research note on Wednesday, October 12th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Netflix in a research note on Sunday, August 14th. FBR & Co reissued a “market perform” rating and issued a $90.00 price objective (down previously from $104.00) on shares of Netflix in a research note on Sunday, July 17th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $122.00 price objective on shares of Netflix in a research note on Tuesday, July 12th. Eight investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $111.13.
Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. The company has a market cap of $42.79 billion, a price-to-earnings ratio of 311.88 and a beta of 1.14. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The company’s 50 day moving average is $98.99 and its 200 day moving average is $96.28.
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Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.06. The firm earned $2.29 billion during 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%. Netflix’s revenue was up 31.7% compared to the same quarter last year. During the same period last year, the business earned $0.07 earnings per share. Equities research analysts forecast that Netflix will post $0.28 EPS for the current year.
In related news, Director Jay C. Hoag acquired 600,000 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The shares were acquired at an average cost of $86.43 per share, with a total value of $51,858,000.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Richard N. Barton sold 1,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $93.58, for a total value of $131,012.00. Following the completion of the transaction, the director now directly owns 15,562 shares in the company, valued at $1,456,291.96. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of NFLX. National Pension Service increased its position in shares of Netflix by 8.7% in the third quarter. National Pension Service now owns 272,049 shares of the Internet television network’s stock worth $26,810,000 after buying an additional 21,790 shares during the last quarter. Highland Capital Management LLC increased its position in shares of Netflix by 218.5% in the third quarter. Highland Capital Management LLC now owns 10,350 shares of the Internet television network’s stock worth $1,020,000 after buying an additional 7,100 shares during the last quarter. Hollencrest Securities LLC bought a new position in shares of Netflix during the third quarter worth $618,000. Capstone Asset Management Co. increased its position in shares of Netflix by 3.3% in the third quarter. Capstone Asset Management Co. now owns 29,406 shares of the Internet television network’s stock worth $2,898,000 after buying an additional 938 shares during the last quarter. Finally, Grassi Investment Management bought a new position in shares of Netflix during the third quarter worth $207,000. 78.41% of the stock is currently 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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