Netflix, Inc. (NFLX) Rating Reiterated by Wedbush
Netflix, Inc. (NASDAQ:NFLX)‘s stock had its “underperform” rating restated by Wedbush in a research note issued on Friday. They currently have a $88.00 target price on the Internet television network’s stock. Wedbush’s target price indicates a potential downside of 55.56% from the stock’s previous close.
Several other equities research analysts have also weighed in on NFLX. Vetr upgraded Netflix from a “hold” rating to a “buy” rating and set a $168.81 target price for the company in a report on Monday, June 12th. Canaccord Genuity boosted their target price on Netflix from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, June 16th. Royal Bank Of Canada restated an “outperform” rating and issued a $175.00 target price on shares of Netflix in a report on Friday, June 16th. BidaskClub lowered Netflix from a “buy” rating to a “hold” rating in a report on Saturday, June 17th. Finally, Guggenheim restated a “buy” rating and issued a $180.00 target price (up from $175.00) on shares of Netflix in a report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and thirty-one have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $184.65.
Netflix (NFLX) traded up 1.87% on Friday, reaching $198.02. 15,249,275 shares of the company traded hands. The stock has a market capitalization of $85.49 billion, a price-to-earnings ratio of 240.90 and a beta of 1.09. Netflix has a 52-week low of $97.63 and a 52-week high of $198.92. The firm has a 50 day moving average price of $177.87 and a 200 day moving average price of $163.29. Netflix also was the recipient of unusually large options trading on Thursday. Traders acquired 122,784 call options on the stock. This represents an increase of 283% compared to the typical volume of 32,078 call options.
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 the Thomson Reuters’ consensus estimate of $0.16 by ($0.01). Netflix had a return on equity of 12.82% and a net margin of 3.55%. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.76 billion. During the same quarter last year, the firm posted $0.09 earnings per share. The firm’s revenue for the quarter was up 32.3% compared to the same quarter last year. Equities research analysts predict that Netflix will post $1.17 EPS for the current year.
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In related news, CEO Reed Hastings sold 109,214 shares of Netflix stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $188.61, for a total transaction of $20,598,852.54. Following the completion of the sale, the chief executive officer now directly owns 109,214 shares of the company’s stock, valued at approximately $20,598,852.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard N. Barton sold 2,000 shares of Netflix stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $169.18, for a total value of $338,360.00. Following the sale, the director now directly owns 8,012 shares of the company’s stock, valued at $1,355,470.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 310,325 shares of company stock valued at $55,807,018. 4.90% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in NFLX. FMR LLC lifted its holdings in Netflix by 12.4% during the 2nd quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock worth $3,531,042,000 after purchasing an additional 2,605,731 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Netflix by 3,478.1% during the 2nd quarter. Janus Henderson Group PLC now owns 2,041,458 shares of the Internet television network’s stock worth $305,014,000 after purchasing an additional 1,984,404 shares during the last quarter. Jennison Associates LLC lifted its holdings in Netflix by 14.0% during the 2nd quarter. Jennison Associates LLC now owns 14,784,089 shares of the Internet television network’s stock worth $2,208,891,000 after purchasing an additional 1,814,056 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Netflix by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 27,161,082 shares of the Internet television network’s stock worth $4,014,680,000 after purchasing an additional 921,283 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its holdings in Netflix by 22,622.2% during the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 814,592 shares of the Internet television network’s stock worth $121,708,000 after purchasing an additional 811,007 shares during the last quarter. 81.03% of the stock is owned by institutional investors and hedge funds.
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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