FBR & Co Lowers Netflix Inc. (NFLX) Price Target to $90.00
Netflix Inc. (NASDAQ:NFLX) had its target price lowered by analysts at FBR & Co from $100.00 to $90.00 in a report issued on Tuesday. The firm presently has a “mkt perform” rating on the Internet television network’s stock. FBR & Co’s target price would suggest a potential downside of 29.32% from the company’s previous close.
NFLX has been the subject of several other reports. Vetr upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $102.90 target price for the company in a research note on Tuesday, September 20th. Cantor Fitzgerald reiterated a “buy” rating on shares of Netflix in a research note on Friday, September 9th. Wedbush set a $45.00 target price on shares of Netflix and gave the company a “sell” rating in a research note on Thursday, October 13th. RBC Capital Markets reiterated an “outperform” rating and issued a $130.00 target price on shares of Netflix in a research note on Monday, August 29th. Finally, Jefferies Group reiterated an “underperform” rating and issued a $76.00 target price on shares of Netflix in a research note on Friday, September 23rd. Eight analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $116.52.
Netflix (NASDAQ:NFLX) traded down 0.774% during trading on Tuesday, reaching $126.345. 7,389,683 shares of the company’s stock traded hands. The firm has a market capitalization of $54.22 billion, a PE ratio of 341.473 and a beta of 1.14. The company has a 50-day moving average price of $102.76 and a 200 day moving average price of $96.96. Netflix has a one year low of $79.95 and a one year high of $133.27.
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Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.06. Netflix had a net margin of 1.99% and a return on equity of 6.31%. The firm earned $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the business posted $0.07 EPS. The business’s revenue was up 31.7% compared to the same quarter last year. On average, analysts anticipate that Netflix will post $0.40 earnings per share for the current fiscal year.
In related news, Director Richard N. Barton sold 1,400 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $93.58, for a total transaction of $131,012.00. Following the transaction, the director now directly owns 15,562 shares of the company’s stock, valued at approximately $1,456,291.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Theodore A. Sarandos sold 91,966 shares of the business’s stock in a transaction that occurred on Tuesday, October 18th. The stock was sold at an average price of $116.63, for a total value of $10,725,994.58. Following the transaction, the insider now directly owns 15,204 shares in the company, valued at $1,773,242.52. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in NFLX. M&T Bank Corp raised its position in Netflix by 5.6% in the first quarter. M&T Bank Corp now owns 32,482 shares of the Internet television network’s stock valued at $3,320,000 after buying an additional 1,737 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of Netflix by 16.4% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,201 shares of the Internet television network’s stock worth $225,000 after buying an additional 310 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of Netflix by 1.1% in the first quarter. Canada Pension Plan Investment Board now owns 46,963 shares of the Internet television network’s stock worth $4,801,000 after buying an additional 500 shares during the last quarter. BB&T Securities LLC raised its position in shares of Netflix by 97.1% in the first quarter. BB&T Securities LLC now owns 10,991 shares of the Internet television network’s stock worth $1,123,000 after buying an additional 5,416 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Netflix by 10.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,360 shares of the Internet television network’s stock worth $1,774,000 after buying an additional 1,686 shares during the last quarter. 78.41% of the stock is currently owned by hedge funds and other institutional investors.
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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