Netflix Inc. (NFLX) Rating Reiterated by Jefferies Group
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “underperform” rating reiterated by equities researchers at Jefferies Group in a research note issued to investors on Tuesday. They presently have a $80.00 target price on the Internet television network’s stock, up from their prior target price of $76.00. Jefferies Group’s price target would indicate a potential downside of 32.65% from the stock’s previous close.
Several other brokerages have also recently issued reports on NFLX. FBR & Co reaffirmed a “market perform” rating and set a $90.00 target price on shares of Netflix in a research note on Wednesday, October 5th. Deutsche Bank AG assumed coverage on shares of Netflix in a research note on Monday, October 10th. They set a “sell” rating and a $90.00 target price on the stock. They noted that the move was a valuation call. Raymond James Financial Inc. set a $120.00 target price on shares of Netflix and gave the stock a “buy” rating in a research note on Monday, October 10th. Vetr cut shares of Netflix from a “buy” rating to a “hold” rating and set a $105.94 target price on the stock. in a research note on Monday, October 3rd. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $94.00 target price on shares of Netflix in a research note on Tuesday, October 4th. Eight investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-eight have given a buy rating to the stock. Netflix presently has an average rating of “Hold” and an average target price of $115.93.
Netflix (NASDAQ:NFLX) traded up 19.03% on Tuesday, reaching $118.79. 42,168,221 shares of the company traded hands. The stock has a 50 day moving average of $99.60 and a 200-day moving average of $96.38. The stock has a market capitalization of $50.93 billion, a price-to-earnings ratio of 371.22 and a beta of 1.14. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27.
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Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.06. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the company posted $0.07 EPS. The firm’s quarterly revenue was up 31.7% on a year-over-year basis. On average, equities analysts anticipate that Netflix will post $0.28 EPS for the current year.
In other Netflix news, Director Jay C. Hoag acquired 600,000 shares of the company’s stock in a transaction on Monday, July 25th. The shares were bought at an average cost of $86.43 per share, for a total transaction of $51,858,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Reed Hastings sold 116,431 shares of Netflix stock in a transaction that occurred on Thursday, July 21st. The stock was 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 owns 116,431 shares in the company, valued at $10,081,760.29. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.
Large investors have recently modified their holdings of the stock. Cornerstone Advisors Inc. increased its stake in shares of Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock worth $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 worth $124,000. Quadrant Capital Group LLC increased 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 worth $126,000 after buying an additional 194 shares during the period. Coconut Grove Bank increased 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 period. Finally, Harel Insurance Investments & Financial Services Ltd. increased 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 worth $155,000 after buying an additional 224 shares during the period. Institutional investors and hedge funds 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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