Netflix’s (NFLX) “Hold” Rating Reiterated at Needham & Company LLC
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “hold” rating reiterated by analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday.
Other equities analysts have also issued reports about the company. BMO Capital Markets increased their price target on Netflix to $115.00 in a research note on Tuesday. Nomura increased their price target on Netflix to $130.00 in a research note on Tuesday. Pacific Crest reissued a “buy” rating and set a $130.00 price target on shares of Netflix in a research note on Wednesday, June 22nd. Zacks Investment Research raised Netflix from a “hold” rating to a “buy” rating and set a $105.00 price target for the company in a research note on Tuesday, June 21st. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $140.00 price target on shares of Netflix in a research note on Thursday, June 23rd. Seven investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-eight have issued a buy rating to the company. Netflix currently has a consensus rating of “Hold” and a consensus target price of $113.50.
Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. The stock has a market capitalization of $42.79 billion, a PE ratio of 311.88 and a beta of 1.14. Netflix has a one year low of $79.95 and a one year high of $133.27. The company’s 50 day moving average price is $98.99 and its 200-day moving average price is $96.28.
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Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The firm earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.07 earnings per share. Analysts expect that Netflix will post $0.28 earnings per share for the current year.
In other Netflix news, Director Richard N. Barton sold 700 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $93.87, for a total transaction of $65,709.00. Following the completion of the transaction, the director now directly owns 15,562 shares of the company’s stock, valued at approximately $1,460,804.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag bought 600,000 shares of Netflix stock in a transaction on Monday, July 25th. The shares were purchased at an average cost of $86.43 per share, with a total value of $51,858,000.00. The disclosure for this purchase can be found here. Corporate insiders own 4.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Sands Capital Management LLC bought a new stake in shares of Netflix during the fourth quarter worth $852,347,000. Norges Bank bought a new stake in shares of Netflix during the fourth quarter worth $305,275,000. Winslow Capital Management LLC bought a new stake in shares of Netflix during the second quarter worth $209,447,000. Morgan Stanley raised its stake in shares of Netflix by 20.2% in the fourth quarter. Morgan Stanley now owns 10,926,258 shares of the Internet television network’s stock worth $1,249,746,000 after buying an additional 1,833,207 shares in the last quarter. Finally, Capital World Investors raised its stake in shares of 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. 78.41% of the stock is owned by hedge funds and other institutional investors.
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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