Netflix Inc. (NFLX) Raised to “Buy” at Vetr Inc.

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.

Analyst Recommendations for Netflix (NASDAQ:NFLX)

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.

About Netflix

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.

5 Day Chart for NASDAQ:NFLX

To view Vetr’s full report, visit Vetr’s official website.

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