Netflix Inc. (NASDAQ:NFLX) had its target price boosted by investment analysts at FBR & Co from $90.00 to $100.00 in a research report issued on Tuesday. The brokerage currently has a “market perform” rating on the Internet television network’s stock. FBR & Co’s price target indicates a potential downside of 15.82% from the company’s current price.
NFLX has been the subject of several other reports. Needham & Company LLC lowered Netflix from a “buy” rating to a “hold” rating and lifted their price target for the company from $95.15 to $96.67 in a report on Tuesday, July 5th. Pivotal Research reiterated a “buy” rating and set a $155.00 price target (up from $125.00) on shares of Netflix in a report on Tuesday. Bank of America Corp. reiterated a “buy” rating and set a $146.00 price target on shares of Netflix in a report on Friday, August 26th. Jefferies Group reiterated an “underperform” rating and set a $80.00 price target (up from $76.00) on shares of Netflix in a report on Tuesday. Finally, Wedbush lifted their price target on Netflix from $45.00 to $50.00 and gave the company an “underperform” rating in a report on Tuesday, July 19th. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-eight have given a buy rating to the company. Netflix has an average rating of “Hold” and an average price target of $115.93.
Shares of Netflix (NASDAQ:NFLX) traded up 19.03% during mid-day trading on Tuesday, reaching $118.79. 42,168,221 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $99.60 and a 200-day moving average price of $96.38. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The company has a market capitalization of $50.93 billion, a P/E ratio of 371.22 and a beta of 1.14.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.06. The business earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The firm’s revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 EPS. On average, equities research analysts forecast that Netflix will post $0.28 earnings per share for the current fiscal year.
In other news, Director Jay C. Hoag acquired 600,000 shares of Netflix stock in a transaction that occurred on Monday, July 25th. The shares were acquired at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Reed Hastings sold 116,431 shares of the business’s stock in a transaction on Thursday, July 21st. The stock was sold at an average price of $86.59, for a total value of $10,081,760.29. Following the sale, the chief executive officer now owns 116,431 shares in the company, valued at approximately $10,081,760.29. The disclosure for this sale can be found here. 4.90% of the stock is owned by insiders.
Large investors have recently modified their holdings of the company. Cornerstone Advisors Inc. raised its stake in shares of Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock worth $102,000 after buying an additional 228 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Netflix during the second quarter worth $124,000. Quadrant Capital Group LLC raised its stake in shares of Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock worth $126,000 after buying an additional 194 shares in the last quarter. Coconut Grove Bank raised its stake in shares of Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock worth $140,000 after buying an additional 26 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock worth $155,000 after buying an additional 224 shares in the last quarter. Institutional investors and hedge funds own 78.41% of the company’s stock.
Netflix Company Profile
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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