Netflix, Inc. (NFLX) Upgraded at Zacks Investment Research
Netflix, Inc. (NASDAQ:NFLX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The firm presently has a $219.00 price objective on the Internet television network’s stock. Zacks Investment Research‘s target price indicates a potential upside of 13.35% from the company’s previous close.
According to Zacks, “Netflix’s growing subscriber base is the primary factor that helps it generate significant revenues. The company’s investments in regional programming help it to draw more international subscribers. The company remains confident of adding more subscribers as the trend of binge viewing is catching up fast. Netflix now has 109.3 million subscribers globally. We believe continuing subscriber addition and expanding content portfolio are the key catalysts that will help Netflix to sustain growth going forward. In the past one year, Netflix shares have vastly outperformed the industry. However, higher investments on original/acquired content will continue to hurt profitability, at least in the near term. Stringent competition from other well-established players also poses a major concern.”
Other analysts also recently issued reports about the company. Bank of America Corporation increased their price objective on Netflix from $199.00 to $225.00 in a research note on Tuesday, October 17th. MKM Partners increased their price objective on Netflix from $195.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. BTIG Research increased their price objective on Netflix from $170.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, July 26th. Rosenblatt Securities reissued a “buy” rating and issued a $200.00 price objective on shares of Netflix in a research note on Wednesday, August 16th. Finally, J P Morgan Chase & Co reissued a “buy” rating on shares of Netflix in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, seventeen have issued a hold rating and thirty-three have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $207.20.
Netflix (NASDAQ:NFLX) traded down $2.31 during midday trading on Monday, hitting $193.20. The company’s stock had a trading volume of 3,906,300 shares, compared to its average volume of 6,689,182. Netflix has a 1 year low of $113.51 and a 1 year high of $204.38. The company has a market cap of $83,603.65, a price-to-earnings ratio of 195.15, a PEG ratio of 5.74 and a beta of 1.39. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.20 and a quick ratio of 1.20.
Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, October 16th. The Internet television network reported $0.29 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.03). Netflix had a net margin of 4.04% and a return on equity of 14.56%. The business had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.97 billion. During the same quarter in the previous year, the company earned $0.12 EPS. The firm’s revenue for the quarter was up 30.3% on a year-over-year basis. analysts forecast that Netflix will post 1.26 earnings per share for the current year.
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In other news, CEO Reed Hastings sold 83,335 shares of the company’s stock in a transaction on Monday, October 23rd. The stock was sold at an average price of $192.79, for a total value of $16,066,154.65. Following the completion of the sale, the chief executive officer now directly owns 83,335 shares in the company, valued at approximately $16,066,154.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $165.72, for a total value of $331,440.00. Following the completion of the sale, the director now owns 8,012 shares of the company’s stock, valued at $1,327,748.64. The disclosure for this sale can be found here. Insiders sold a total of 250,692 shares of company stock valued at $48,074,934 over the last 90 days. 4.90% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Truepoint Inc. increased its stake in shares of Netflix by 18,035.0% in the 3rd quarter. Truepoint Inc. now owns 402,416 shares of the Internet television network’s stock worth $402,000 after purchasing an additional 400,197 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Netflix by 161.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 15,967 shares of the Internet television network’s stock worth $2,837,000 after purchasing an additional 9,850 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Netflix in the 3rd quarter worth $215,000. Cetera Investment Advisers increased its stake in shares of Netflix by 41.4% in the 3rd quarter. Cetera Investment Advisers now owns 4,410 shares of the Internet television network’s stock worth $797,000 after purchasing an additional 1,292 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its stake in shares of Netflix by 3.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 12,073 shares of the Internet television network’s stock worth $2,189,000 after purchasing an additional 406 shares in the last quarter. Hedge funds and other institutional investors own 80.32% 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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