Netflix, Inc. (NFLX) Receives Hold Rating from Wedbush
Netflix, Inc. (NASDAQ:NFLX)‘s stock had its “hold” rating restated by Wedbush in a research report issued to clients and investors on Wednesday. They presently have a $190.00 price objective on the Internet television network’s stock, up from their prior price objective of $180.00. Wedbush’s target price points to a potential downside of 2.83% from the stock’s previous close. Wedbush also issued estimates for Netflix’s Q4 2017 earnings at $0.42 EPS, FY2017 earnings at $1.26 EPS, Q1 2018 earnings at $0.51 EPS, Q3 2018 earnings at $0.48 EPS and Q4 2018 earnings at $0.54 EPS.
Other equities analysts have also issued research reports about the company. Bank of America Corporation raised their target price on Netflix from $199.00 to $225.00 in a research note on Tuesday. Goldman Sachs Group, Inc. (The) set a $175.00 price objective on Netflix and gave the company a “buy” rating in a research note on Wednesday, June 28th. Guggenheim reiterated a “buy” rating and set a $180.00 price objective (up previously from $175.00) on shares of Netflix in a research note on Tuesday, June 20th. Vetr lowered Netflix from a “strong-buy” rating to a “buy” rating and set a $167.28 price objective for the company. in a research note on Monday, July 10th. Finally, MKM Partners reiterated a “buy” rating and set a $195.00 price objective on shares of Netflix in a research note on Monday, July 10th. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and thirty-three have given a buy rating to the stock. Netflix presently has an average rating of “Buy” and a consensus price target of $200.97.
Netflix (NFLX) traded down 1.98% during mid-day trading on Wednesday, reaching $195.54. The company had a trading volume of 11,185,167 shares. The firm has a market capitalization of $84.42 billion, a PE ratio of 237.88 and a beta of 1.09. Netflix has a 52 week low of $98.38 and a 52 week high of $200.82. The stock’s 50-day moving average price is $183.35 and its 200 day moving average price is $165.87.
Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, October 16th. The Internet television network reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03). The firm had revenue of $2.99 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Netflix had a return on equity of 15.06% and a net margin of 4.04%. The business’s revenue was up 30.3% on a year-over-year basis. During the same quarter last year, the business earned $0.12 EPS. On average, equities research analysts predict that Netflix will post $1.25 EPS for the current year.
In other news, Director Richard N. Barton sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $187.75, for a total value of $375,500.00. Following the sale, the director now directly owns 7,198 shares in the company, valued at $1,351,424.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reed Hastings sold 109,214 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were 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 owns 109,214 shares in the company, valued at $20,598,852.54. The disclosure for this sale can be found here. Insiders sold 305,288 shares of company stock worth $55,168,715 over the last quarter. Company insiders own 4.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Netflix by 2.9% during the second quarter. Vanguard Group Inc. now owns 27,950,272 shares of the Internet television network’s stock worth $4,176,049,000 after acquiring an additional 789,190 shares during the last quarter. BlackRock Inc. boosted its position in Netflix by 1.7% during the second quarter. BlackRock Inc. now owns 25,663,728 shares of the Internet television network’s stock worth $3,834,416,000 after acquiring an additional 423,968 shares during the last quarter. FMR LLC boosted its position in Netflix by 12.4% during the second quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock worth $3,531,042,000 after acquiring an additional 2,605,731 shares during the last quarter. State Street Corp boosted its position in Netflix by 2.7% during the first quarter. State Street Corp now owns 17,535,737 shares of the Internet television network’s stock worth $2,591,946,000 after acquiring an additional 463,143 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Netflix by 14.0% during the second quarter. Jennison Associates LLC now owns 14,784,089 shares of the Internet television network’s stock worth $2,208,891,000 after acquiring an additional 1,814,056 shares during the last quarter. Hedge funds and other institutional investors own 81.02% of the company’s stock.
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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