Netflix Inc. (NFLX) Receives Hold Rating from Citigroup Inc.
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “hold” rating reaffirmed by research analysts at Citigroup Inc. in a report issued on Tuesday. They currently have a $120.00 target price on the Internet television network’s stock. Citigroup Inc.’s price objective points to a potential upside of 20.24% from the stock’s previous close.
Several other brokerages have also recently weighed in on NFLX. JPMorgan Chase & Co. reissued an “overweight” rating and set a $116.00 price target (down previously from $125.00) on shares of Netflix in a research report on Tuesday, July 19th. MKM Partners dropped their price target on shares of Netflix from $145.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th. Vetr raised shares of Netflix from a “hold” rating to a “buy” rating and set a $103.71 price target for the company in a research report on Thursday, September 8th. BMO Capital Markets reissued a “market perform” rating and set a $85.00 price target on shares of Netflix in a research report on Thursday, July 28th. Finally, Jefferies Group reissued an “underperform” rating and set a $76.00 price target on shares of Netflix in a research report on Friday, September 23rd. Seven equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. Netflix presently has an average rating of “Hold” and an average price target of $113.80.
Shares of Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. The company has a market capitalization of $42.79 billion, a P/E ratio of 311.88 and a beta of 1.14. The stock’s 50 day moving average is $98.99 and its 200 day moving average is $96.28. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27.
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Netflix (NASDAQ:NFLX) last released its earnings results on Monday, October 17th. The Internet television network reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.06. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The firm’s quarterly 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 analysts expect that Netflix will post $0.28 EPS for the current year.
In other news, Director Richard N. Barton sold 2,800 shares of Netflix stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $104.27, for a total value of $291,956.00. Following the completion of the transaction, the director now owns 15,254 shares in the company, valued at approximately $1,590,534.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 value of $10,081,760.29. Following the completion of the transaction, the chief executive officer now owns 116,431 shares of the company’s stock, valued at approximately $10,081,760.29. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in NFLX. Adage Capital Partners GP L.L.C. boosted its position in shares of Netflix by 69.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 645,960 shares of the Internet television network’s stock valued at $66,036,000 after buying an additional 265,678 shares during the last quarter. Scopia Capital Management LP boosted its position in shares of Netflix by 55.2% in the first quarter. Scopia Capital Management LP now owns 1,846,398 shares of the Internet television network’s stock valued at $188,757,000 after buying an additional 656,585 shares during the last quarter. Natixis bought a new position in shares of Netflix during the first quarter valued at about $47,023,000. Private Capital Management Inc. bought a new position in shares of Netflix during the second quarter valued at about $631,000. Finally, Advisory Services Network LLC boosted its position in shares of Netflix by 15.0% in the second quarter. Advisory Services Network LLC now owns 5,415 shares of the Internet television network’s stock valued at $495,000 after buying an additional 706 shares during the last quarter. 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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