Vetr Inc. Downgrades Netflix, Inc. (NFLX) to Strong Sell
Netflix, Inc. (NASDAQ:NFLX) was downgraded by investment analysts at Vetr from a “sell” rating to a “strong sell” rating in a research note issued to investors on Monday. They presently have a $162.49 target price on the Internet television network’s stock. Vetr‘s price objective would suggest a potential downside of 11.99% from the company’s previous close.
A number of other research firms have also weighed in on NFLX. MKM Partners upped their target price on Netflix from $195.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. BTIG Research upped their target price on Netflix from $170.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Moffett Nathanson restated a “neutral” rating on shares of Netflix in a report on Tuesday, July 18th. Zacks Investment Research lowered Netflix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $215.00 target price on shares of Netflix in a report on Monday. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have issued a buy rating to the stock. Netflix currently has a consensus rating of “Buy” and a consensus target price of $178.64.
Netflix (NASDAQ:NFLX) traded up 1.24% on Monday, reaching $184.62. The company had a trading volume of 5,359,569 shares. The company has a market capitalization of $79.71 billion, a P/E ratio of 224.60 and a beta of 1.05. The stock’s 50-day moving average is $175.16 and its 200-day moving average is $159.72. Netflix has a 52 week low of $93.26 and a 52 week high of $191.50.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). The company had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The firm’s quarterly revenue was up 32.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.09 EPS. Equities research analysts forecast that Netflix will post $1.19 EPS for the current fiscal year.
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In other Netflix news, CEO Reed Hastings sold 115,577 shares of the business’s stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $152.63, for a total value of $17,640,517.51. Following the completion of the transaction, the chief executive officer now owns 115,577 shares in the company, valued at $17,640,517.51. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 2,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $174.44, for a total transaction of $348,880.00. Following the completion of the transaction, the director now owns 8,012 shares of the company’s stock, valued at approximately $1,397,613.28. The disclosure for this sale can be found here. In the last 90 days, insiders sold 349,435 shares of company stock valued at $59,221,491. Insiders own 4.90% of the company’s stock.
Large investors have recently bought and sold shares of the business. Almanack Investment Partners LLC. acquired a new position in shares of Netflix in the second quarter worth $101,000. TD Capital Management LLC acquired a new position in shares of Netflix in the second quarter worth $105,000. Appropriate Balance Financial Services Inc. grew its stake in shares of Netflix by 5.6% in the second quarter. Appropriate Balance Financial Services Inc. now owns 702 shares of the Internet television network’s stock worth $4,701,000 after acquiring an additional 37 shares in the last quarter. SRS Capital Advisors Inc. grew its stake in shares of Netflix by 3,361.9% in the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock worth $107,000 after acquiring an additional 706 shares in the last quarter. Finally, Harfst & Associates Inc. acquired a new position in shares of Netflix in the first quarter worth $109,000. Institutional investors and hedge funds own 81.03% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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