Netflix Inc. (NFLX) Receives Underperform Rating from Wedbush
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “underperform” rating restated by equities research analysts at Wedbush in a research report issued on Tuesday. They presently have a $60.00 target price on the Internet television network’s stock, up from their prior target price of $50.00. Wedbush’s target price points to a potential downside of 39.88% from the stock’s previous close.
A number of other brokerages have also recently weighed in on NFLX. FBR & Co reaffirmed a “market perform” rating and set a $90.00 price target on shares of Netflix in a research report on Wednesday, October 5th. Deutsche Bank AG began coverage on shares of Netflix in a research report on Monday, October 10th. They set a “sell” rating and a $90.00 price target for the company. They noted that the move was a valuation call. Raymond James Financial Inc. set a $120.00 price target on shares of Netflix and gave the stock a “buy” rating in a research report on Monday, October 10th. Vetr cut shares of Netflix from a “buy” rating to a “hold” rating and set a $105.94 price target for the company. in a research report on Monday, October 3rd. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $94.00 price target on shares of Netflix in a research report on Tuesday, October 4th. 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 stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $115.98.
Shares of Netflix (NASDAQ:NFLX) traded up 19.57% during mid-day trading on Tuesday, hitting $119.33. The stock had a trading volume of 33,241,505 shares. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The stock has a market cap of $51.16 billion, a P/E ratio of 372.91 and a beta of 1.14. 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 announced its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 earned $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the company earned $0.07 EPS. The business’s quarterly revenue was up 31.7% compared to the same quarter last year. Equities research analysts predict that Netflix will post $0.28 EPS for the current fiscal year.
In related news, Director Richard N. Barton sold 2,800 shares of the firm’s stock in a transaction on Thursday, October 6th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard N. Barton sold 1,400 shares of the firm’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $100.00, for a total transaction of $140,000.00. Following the completion of the transaction, the director now owns 16,262 shares in the company, valued at $1,626,200. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. M&T Bank Corp raised its position in Netflix by 5.6% in the first quarter. M&T Bank Corp now owns 32,482 shares of the Internet television network’s stock worth $3,320,000 after buying an additional 1,737 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in Netflix by 16.4% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,201 shares of the Internet television network’s stock valued at $225,000 after buying an additional 310 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Netflix by 1.1% in the first quarter. Canada Pension Plan Investment Board now owns 46,963 shares of the Internet television network’s stock valued at $4,801,000 after buying an additional 500 shares in the last quarter. BB&T Securities LLC raised its stake in Netflix by 97.1% in the first quarter. BB&T Securities LLC now owns 10,991 shares of the Internet television network’s stock valued at $1,123,000 after buying an additional 5,416 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Netflix by 10.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,360 shares of the Internet television network’s stock valued at $1,774,000 after buying an additional 1,686 shares in the last quarter. Institutional investors and hedge funds own 78.41% of the company’s stock.
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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