FBR & Co Trims Netflix Inc. (NFLX) Target Price to $90.00
Netflix Inc. (NASDAQ:NFLX) had its price target reduced by equities researchers at FBR & Co from $100.00 to $90.00 in a research report issued to clients and investors on Tuesday. The brokerage presently has a “mkt perform” rating on the Internet television network’s stock. FBR & Co’s target price indicates a potential downside of 9.82% from the stock’s current price.
NFLX has been the subject of several other research reports. Vetr raised Netflix from a “hold” rating to a “buy” rating and set a $102.90 target price for the company in a research report on Tuesday, September 20th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Netflix in a research report on Friday, September 9th. Wedbush set a $45.00 target price on Netflix and gave the stock a “sell” rating in a research report on Thursday, October 13th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Netflix in a research report on Monday, August 29th. Finally, Jefferies Group reaffirmed an “underperform” rating and issued a $76.00 target price on shares of Netflix in a research report on Friday, September 23rd. Seven 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 company. The stock has a consensus rating of “Hold” and a consensus target price of $115.35.
Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. The company’s 50-day moving average price is $98.99 and its 200-day moving average price is $96.28. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The stock has a market cap of $42.79 billion, a P/E ratio of 311.88 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 earnings per share (EPS) for the quarter, beating the Zacks’ 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 the consensus estimate of $2.28 billion. During the same quarter in the previous year, the business earned $0.07 earnings per share. The firm’s quarterly revenue was up 31.7% compared to the same quarter last year. Analysts predict that Netflix will post $0.28 EPS for the current year.
In other news, CEO Reed Hastings sold 116,431 shares of the company’s stock in a transaction dated 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 sale, the chief executive officer now directly 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 can be accessed through the SEC website. Also, Director Jay C. Hoag bought 600,000 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was purchased at an average cost of $86.43 per share, for a total transaction of $51,858,000.00. The disclosure for this purchase can be found here. Company insiders own 4.90% of the company’s stock.
Several large investors have recently modified their holdings of NFLX. Fulton Bank N.A. boosted its stake in shares of Netflix by 0.3% in the third quarter. Fulton Bank N.A. now owns 4,450 shares of the Internet television network’s stock worth $439,000 after buying an additional 12 shares during the last quarter. Concorde Asset Management LLC boosted its stake in shares of Netflix by 0.5% in the second quarter. Concorde Asset Management LLC now owns 4,205 shares of the Internet television network’s stock worth $385,000 after buying an additional 20 shares during the last quarter. Coconut Grove Bank boosted 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 worth $140,000 after buying an additional 26 shares during the last quarter. Conning Inc. boosted its stake in shares of Netflix by 0.3% in the second quarter. Conning Inc. now owns 10,915 shares of the Internet television network’s stock worth $999,000 after buying an additional 30 shares during the last quarter. Finally, Mycio Wealth Partners LLC boosted its stake in shares of Netflix by 1.5% in the second quarter. Mycio Wealth Partners LLC now owns 2,348 shares of the Internet television network’s stock worth $215,000 after buying an additional 35 shares during the last quarter. 78.41% of the stock is currently 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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