Netflix’s (NFLX) Buy Rating Reaffirmed at Pivotal Research
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “buy” rating reissued by stock analysts at Pivotal Research in a research note issued on Tuesday. They presently have a $155.00 target price on the Internet television network’s stock, up from their prior target price of $125.00. Pivotal Research’s target price suggests a potential upside of 55.31% from the company’s current price.
NFLX has been the topic of several other research reports. Vetr upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $102.90 price target on the stock in a report on Tuesday, September 20th. Cantor Fitzgerald reiterated a “buy” rating on shares of Netflix in a report on Friday, September 9th. FBR & Co reiterated a “market perform” rating and issued a $90.00 price target on shares of Netflix in a report on Thursday, September 15th. Wedbush set a $45.00 price target on shares of Netflix and gave the company a “sell” rating in a report on Thursday, October 13th. Finally, RBC Capital Markets reiterated an “outperform” rating and issued a $130.00 price target on shares of Netflix in a report on Monday, August 29th. Seven investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $113.50.
Shares of Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. Netflix has a one year low of $79.95 and a one year high of $133.27. The stock has a 50 day moving average of $98.99 and a 200 day moving average of $96.28. The stock has a market cap of $42.79 billion, a P/E ratio of 311.88 and a beta of 1.14.
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Netflix (NASDAQ:NFLX) last issued 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 firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter last year, the business earned $0.07 earnings per share. The business’s revenue was up 31.7% on a year-over-year basis. On average, analysts forecast that Netflix will post $0.28 EPS for the current year.
In related news, Director Jay C. Hoag acquired 600,000 shares of the stock in a transaction on Monday, July 25th. The shares were bought 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 1,400 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $93.58, for a total value of $131,012.00. Following the transaction, the director now directly owns 15,562 shares in the company, valued at approximately $1,456,291.96. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Capital Research Global Investors increased its stake 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 worth $4,571,055,000 after buying an additional 761,325 shares in the last quarter. Vanguard Group Inc. increased its stake in Netflix by 2.0% in the second quarter. Vanguard Group Inc. now owns 25,054,115 shares of the Internet television network’s stock worth $2,291,951,000 after buying an additional 484,692 shares in the last quarter. Baillie Gifford & Co. increased its stake in Netflix by 4.5% in the second quarter. Baillie Gifford & Co. now owns 7,316,440 shares of the Internet television network’s stock worth $669,307,000 after buying an additional 314,275 shares in the last quarter. Capital World Investors increased its stake 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 worth $608,976,000 after buying an additional 1,630,881 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Netflix by 2.4% in the first quarter. Geode Capital Management LLC now owns 3,450,527 shares of the Internet television network’s stock worth $352,036,000 after buying an additional 79,246 shares in the last quarter. 78.41% of the stock is currently owned by 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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