Netflix Inc. (NFLX) Raised to “Buy” at Vetr Inc.
Netflix Inc. (NASDAQ:NFLX) was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm currently has a $105.33 price target on the Internet television network’s stock. Vetr‘s price objective would suggest a potential upside of 5.54% from the company’s previous close.
Several other analysts also recently weighed in on NFLX. Jefferies Group reiterated an “underperform” rating and issued a $76.00 target price (down previously from $80.00) on shares of Netflix in a report on Sunday, July 17th. Wedbush reissued an “underperform” rating and issued a $50.00 price target (up previously from $45.00) on shares of Netflix in a research report on Sunday, July 17th. SunTrust Banks Inc. reissued a “hold” rating on shares of Netflix in a research report on Sunday, July 17th. BTIG Research reissued a “buy” rating and issued a $130.00 price target (down previously from $150.00) on shares of Netflix in a research report on Sunday, July 17th. Finally, Raymond James Financial Inc. set a $120.00 price target on shares of Netflix and gave the company a “buy” rating in a research report on Sunday. Eight investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $109.91.
Shares of Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. The stock has a market cap of $42.79 billion, a PE ratio of 311.88 and a beta of 1.14. The firm has a 50-day moving average price of $98.99 and a 200 day moving average price of $96.28. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/18/netflix-inc-nflx-raised-to-buy-at-vetr-inc.html
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, topping 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 earned $0.07 EPS. Equities research analysts expect that Netflix will post $0.28 earnings per share for the current year.
In related news, Director Richard N. Barton sold 700 shares of Netflix stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $93.87, for a total value of $65,709.00. Following the sale, the director now directly owns 15,562 shares in the company, valued at approximately $1,460,804.94. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Reed Hastings sold 116,431 shares of Netflix stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $86.59, for a total transaction of $10,081,760.29. Following the completion of the sale, the chief executive officer now owns 116,431 shares in the company, valued at $10,081,760.29. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. Winslow Capital Management LLC bought a new position in Netflix during the second quarter valued at approximately $209,447,000. Capital World Investors boosted its position in Netflix by 32.4% in the second quarter. Capital World Investors now owns 6,656,926 shares of the Internet television network’s stock valued at $608,976,000 after buying an additional 1,630,881 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new position in Netflix during the first quarter valued at approximately $94,076,000. Capital Research Global Investors boosted its position in Netflix by 1.5% in the second quarter. Capital Research Global Investors now owns 49,967,802 shares of the Internet television network’s stock valued at $4,571,055,000 after buying an additional 761,325 shares during the last quarter. Finally, Criterion Capital Management LLC boosted its position in Netflix by 241.5% in the second quarter. Criterion Capital Management LLC now owns 991,469 shares of the Internet television network’s stock valued at $90,700,000 after buying an additional 701,119 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.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Netflix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.