Netflix, Inc. (NFLX) Stock Rating Reaffirmed by Needham & Company LLC
Netflix, Inc. (NASDAQ:NFLX)‘s stock had its “hold” rating reiterated by equities researchers at Needham & Company LLC in a note issued to investors on Sunday.
NFLX has been the topic of several other research reports. Instinet reiterated a “buy” rating on shares of Netflix in a research report on Friday, June 2nd. Sanford C. Bernstein set a $203.00 price objective on shares of Netflix and gave the company a “buy” rating in a research note on Wednesday, August 30th. Canaccord Genuity increased their price objective on shares of Netflix from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, June 16th. Morgan Stanley reissued an “overweight” rating and issued a $185.00 price objective (up previously from $175.00) on shares of Netflix in a research note on Thursday, July 13th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Netflix in a research note on Friday, June 16th. Three investment 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. The company presently has an average rating of “Buy” and a consensus target price of $178.70.
Netflix (NFLX) opened at 182.35 on Friday. The company has a market cap of $78.73 billion, a PE ratio of 221.84 and a beta of 1.05. Netflix has a 1-year low of $93.26 and a 1-year high of $191.50. The stock has a 50 day moving average of $175.15 and a 200-day moving average of $159.15.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The business’s revenue was up 32.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.09 EPS. On average, equities research analysts predict that Netflix will post $1.19 earnings per share for the current year.
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In related news, Director Richard N. Barton sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 28th. The shares were sold at an average price of $154.31, for a total transaction of $308,620.00. Following the completion of the transaction, the director now owns 8,012 shares of the company’s stock, valued at $1,236,331.72. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Reed Hastings sold 115,577 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $152.63, for a total transaction of $17,640,517.51. Following the transaction, the chief executive officer now directly owns 115,577 shares of the company’s stock, valued at approximately $17,640,517.51. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 349,435 shares of company stock valued at $59,221,491. 4.90% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the stock. Intl Fcstone Inc. purchased a new position in Netflix during the second quarter valued at approximately $278,000. Navellier & Associates Inc purchased a new position in Netflix during the second quarter valued at approximately $492,000. USA Financial Portformulas Corp purchased a new position in Netflix during the second quarter valued at approximately $6,229,000. Toronto Dominion Bank grew its stake in Netflix by 25.7% during the second quarter. Toronto Dominion Bank now owns 146,001 shares of the Internet television network’s stock valued at $21,810,000 after acquiring an additional 29,867 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Netflix during the second quarter valued at approximately $445,000. 81.05% of the stock is owned by institutional investors.
Netflix Company Profile
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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