Vetr upgraded shares of Netflix Inc. (NASDAQ:NFLX) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. The firm currently has $124.54 price objective on the Internet television network’s stock.
NFLX has been the subject of several other reports. Cantor Fitzgerald reiterated a buy rating on shares of Netflix in a research note on Friday, September 9th. FBR & Co reiterated a market perform rating and set a $90.00 target price on shares of Netflix in a research note on Thursday, September 15th. Wedbush set a $45.00 target price on shares of Netflix and gave the company a sell rating in a research note on Thursday, October 13th. RBC Capital Markets restated an outperform rating and issued a $130.00 price objective on shares of Netflix in a research note on Monday, August 29th. Finally, Jefferies Group restated an underperform rating and issued a $76.00 price objective on shares of Netflix in a research note on Friday, September 23rd. Eight investment 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 stock. The stock presently has an average rating of Hold and an average target price of $117.44.
Netflix (NASDAQ:NFLX) opened at 113.38 on Thursday. The company’s 50-day moving average is $112.92 and its 200 day moving average is $99.36. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The stock has a market capitalization of $48.66 billion, a PE ratio of 306.43 and a beta of 1.81.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.06. The business earned $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. Netflix had a net margin of 1.99% and a return on equity of 6.31%. Netflix’s quarterly revenue was up 31.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 EPS. On average, analysts predict that Netflix will post $0.40 EPS for the current year.
In other news, CFO David B. Wells sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $122.83, for a total transaction of $61,415.00. Following the transaction, the chief financial officer now directly owns 500 shares of the company’s stock, valued at $61,415. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy M. Haley sold 23,728 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $126.14, for a total value of $2,993,049.92. Following the transaction, the director now directly owns 9,576 shares in the company, valued at $1,207,916.64. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Legal & General Group Plc raised its position in shares of Netflix by 1.0% in the first quarter. Legal & General Group Plc now owns 1,664,262 shares of the Internet television network’s stock worth $170,138,000 after buying an additional 16,883 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Netflix by 1.5% in the first quarter. Envestnet Asset Management Inc. now owns 21,975 shares of the Internet television network’s stock worth $2,247,000 after buying an additional 324 shares during the last quarter. Natixis purchased a new position in shares of Netflix during the first quarter worth $47,023,000. Westend Capital Management LLC purchased a new position in shares of Netflix during the first quarter worth $1,372,000. Finally, Jericho Capital Asset Management L.P. purchased a new position in shares of Netflix during the first quarter worth $94,076,000. 77.56% of the stock is currently owned by institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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