Netflix’s (NFLX) Overweight Rating Reaffirmed at Piper Jaffray Companies
Netflix, Inc. (NASDAQ:NFLX)‘s stock had its “overweight” rating reiterated by analysts at Piper Jaffray Companies in a research report issued to clients and investors on Wednesday. They presently have a $215.00 price target on the Internet television network’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 16.56% from the stock’s previous close.
Several other brokerages have also issued reports on NFLX. Robert W. Baird reiterated a “hold” rating and set a $175.00 price objective on shares of Netflix in a research note on Wednesday. Jefferies Group LLC restated a “hold” rating and issued a $165.00 target price (down previously from $171.80) on shares of Netflix in a research note on Wednesday, August 9th. Wedbush reaffirmed a “sell” rating on shares of Netflix in a report on Wednesday, August 9th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of Netflix in a report on Wednesday, August 9th. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $203.00 target price on shares of Netflix in a research report on Sunday. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $180.91.
Shares of Netflix (NFLX) traded up 2.94% during mid-day trading on Wednesday, hitting $184.45. The stock had a trading volume of 9,176,658 shares. The stock has a 50-day moving average price of $176.72 and a 200 day moving average price of $162.91. The stock has a market cap of $79.64 billion, a P/E ratio of 224.39 and a beta of 1.09. Netflix has a 52 week low of $97.63 and a 52 week high of $191.50.
Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). The business had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. Netflix’s revenue for the quarter was up 32.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 EPS. On average, equities analysts forecast that Netflix will post $1.17 EPS for the current fiscal year.
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In related news, Director Richard N. Barton sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $179.89, for a total value of $359,780.00. Following the completion of the transaction, the director now owns 7,930 shares of the company’s stock, valued at approximately $1,426,527.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Reed Hastings sold 75,467 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $185.02, for a total transaction of $13,962,904.34. Following the completion of the transaction, the chief executive officer now directly owns 75,467 shares of the company’s stock, valued at approximately $13,962,904.34. The disclosure for this sale can be found here. Insiders have sold a total of 310,325 shares of company stock valued at $55,807,018 in the last three months. 4.90% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Intl Fcstone Inc. acquired a new stake in Netflix in the second quarter valued at $278,000. Navellier & Associates Inc bought a new position in Netflix during the 2nd quarter worth $492,000. USA Financial Portformulas Corp bought a new position in Netflix during the 2nd quarter worth $6,229,000. Toronto Dominion Bank raised its position in Netflix by 25.7% during the 2nd quarter. Toronto Dominion Bank now owns 146,001 shares of the Internet television network’s stock worth $21,810,000 after purchasing an additional 29,867 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Netflix during the 2nd quarter worth $445,000. 81.03% of the stock is owned by institutional investors.
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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