Netflix Inc. (NASDAQ:NFLX)‘s stock had its “outperform” rating restated by stock analysts at Cowen and Company in a research note issued on Wednesday. They currently have a $110.00 price target on the Internet television network’s stock. Cowen and Company’s target price would suggest a potential upside of 9.75% from the company’s previous close.
Several other research analysts have also recently commented on NFLX. Vetr cut Netflix from a “strong-buy” rating to a “buy” rating and set a $106.59 target price for the company. in a research report on Thursday, June 16th. Nomura reissued a “buy” rating and set a $115.00 price objective (down from $125.00) on shares of Netflix in a report on Monday, June 20th. Zacks Investment Research raised Netflix from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a report on Tuesday, June 21st. Sanford C. Bernstein reissued an “underperform” rating and set a $62.00 price objective on shares of Netflix in a report on Wednesday, June 22nd. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $140.00 price objective on shares of Netflix in a report on Thursday, June 23rd. Eight analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $110.32.
Shares of Netflix (NASDAQ:NFLX) opened at 100.23 on Wednesday. Netflix has a one year low of $79.95 and a one year high of $133.27. The firm has a 50-day moving average of $98.81 and a 200-day moving average of $96.40. The firm has a market capitalization of $42.97 billion, a P/E ratio of 313.22 and a beta of 1.14.
Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, July 18th. The Internet television network reported $0.09 EPS for the quarter, topping the consensus estimate of $0.02 by $0.07. The firm earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Netflix had a return on equity of 5.59% and a net margin of 1.85%. Netflix’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the business earned $0.06 earnings per share. On average, equities analysts predict that Netflix will post $0.28 earnings per share for the current fiscal year.
In other news, CEO Reed Hastings sold 116,431 shares of Netflix stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $86.59, for a total transaction of $10,081,760.29. Following the completion of the sale, the chief executive officer now owns 116,431 shares of the company’s stock, valued at $10,081,760.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 700 shares of Netflix stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $93.87, for a total transaction of $65,709.00. Following the sale, the director now directly owns 15,562 shares of the company’s stock, valued at approximately $1,460,804.94. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of NFLX. Cornerstone Advisors Inc. increased its stake in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock valued at $102,000 after buying an additional 228 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new stake in Netflix during the second quarter valued at $124,000. Quadrant Capital Group LLC increased its stake in Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock valued at $126,000 after buying an additional 194 shares in the last quarter. Coconut Grove Bank increased its stake in Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock valued at $140,000 after buying an additional 26 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in 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 valued at $155,000 after buying an additional 224 shares in the last quarter. 78.43% of the stock is owned by hedge funds and other institutional investors.
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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