Netflix Inc. (NFLX) Earns Underperform Rating from Jefferies Group
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “underperform” rating restated by stock analysts at Jefferies Group in a note issued to investors on Tuesday. They currently have a $80.00 price objective on the Internet television network’s stock, up from their prior price objective of $76.00. Jefferies Group’s price objective points to a potential downside of 32.65% from the stock’s current price.
A number of other research firms have also commented on NFLX. FBR & Co reaffirmed a “market perform” rating and set a $90.00 price objective on shares of Netflix in a research note on Wednesday, October 5th. Deutsche Bank AG started coverage on Netflix in a report on Monday, October 10th. They issued 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 Netflix and gave the company a “buy” rating in a report on Monday, October 10th. Vetr downgraded Netflix from a “buy” rating to a “hold” rating and set a $105.94 target price on the stock. in a report on Monday, October 3rd. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $94.00 target price on shares of Netflix in a report on Tuesday, October 4th. Eight research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $115.93.
Shares of Netflix (NASDAQ:NFLX) traded up 19.03% on Tuesday, reaching $118.79. 42,100,032 shares of the company’s stock were exchanged. The company has a market capitalization of $50.93 billion, a P/E ratio of 371.22 and a beta of 1.14. The firm’s 50 day moving average price is $98.99 and its 200-day moving average price is $96.28. Netflix has a 12 month low of $79.95 and a 12 month high of $133.27.
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Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The company earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the firm earned $0.07 earnings per share. The business’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 related news, Director Jay C. Hoag purchased 600,000 shares of the stock in a transaction on Monday, July 25th. The shares were purchased at an average price of $86.43 per share, with a total value of $51,858,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $104.27, for a total value of $291,956.00. Following the transaction, the director now directly owns 15,254 shares in the company, valued at approximately $1,590,534.58. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of NFLX. Cornerstone Advisors Inc. raised its position in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock valued at $102,000 after buying an additional 228 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in Netflix during the second quarter valued at $124,000. Quadrant Capital Group LLC raised its position in Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock valued at $126,000 after buying an additional 194 shares during the period. Coconut Grove Bank raised its position in Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock valued at $140,000 after buying an additional 26 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position in 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 valued at $155,000 after buying an additional 224 shares during the period. 78.41% of the stock is currently owned by hedge funds and other 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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