FBR & Co restated their market perform rating on shares of Netflix Inc. (NASDAQ:NFLX) in a research note issued to investors on Wednesday. FBR & Co currently has a $90.00 price objective on the Internet television network’s stock.
Several other analysts also recently commented on NFLX. Vetr upgraded Netflix from a buy rating to a strong-buy rating and set a $109.84 target price on the stock in a research note on Wednesday, June 8th. Nomura reiterated a buy rating and set a $115.00 target price (down from $125.00) on shares of Netflix in a research note on Monday, June 20th. Zacks Investment Research upgraded Netflix from a hold rating to a buy rating and set a $105.00 target price on the stock in a research note on Tuesday, June 21st. Sanford C. Bernstein restated an underperform rating and issued a $62.00 price target on shares of Netflix in a research note on Wednesday, June 22nd. Finally, Cantor Fitzgerald restated a buy rating and issued a $140.00 price target on shares of Netflix in a research note on Thursday, June 23rd. Seven investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. Netflix presently has an average rating of Hold and an average price target of $110.97.
Shares of Netflix (NASDAQ:NFLX) traded down 1.40% during midday trading on Wednesday, reaching $104.79. The company’s stock had a trading volume of 1,412,896 shares. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27. The stock has a 50-day moving average price of $97.70 and a 200-day moving average price of $96.24. The stock has a market cap of $44.93 billion, a price-to-earnings ratio of 327.47 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, beating the consensus estimate of $0.02 by $0.07. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.11 billion. During the same period last year, the business posted $0.06 EPS. The company’s revenue was up 19.5% compared to the same quarter last year. Equities research analysts anticipate that Netflix will post $0.29 earnings per share for the current fiscal year.
In other Netflix news, Director Jay C. Hoag acquired 600,000 shares of the business’s stock in a transaction on Monday, July 25th. The stock was bought at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard N. Barton sold 1,400 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $100.00, for a total transaction of $140,000.00. Following the completion of the sale, the director now owns 16,262 shares of the company’s stock, valued at approximately $1,626,200. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in NFLX. Adage Capital Partners GP L.L.C. increased its stake in Netflix by 69.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 645,960 shares of the Internet television network’s stock worth $66,036,000 after buying an additional 265,678 shares during the last quarter. Scopia Capital Management LP increased its stake in Netflix by 55.2% in the first quarter. Scopia Capital Management LP now owns 1,846,398 shares of the Internet television network’s stock worth $188,757,000 after buying an additional 656,585 shares during the last quarter. Natixis acquired a new stake in Netflix during the first quarter worth approximately $47,023,000. Private Capital Management Inc. acquired a new stake in Netflix during the second quarter worth approximately $631,000. Finally, Allen Investment Management LLC increased its stake in Netflix by 2.6% in the first quarter. Allen Investment Management LLC now owns 30,941 shares of the Internet television network’s stock worth $3,163,000 after buying an additional 778 shares during the last quarter. Institutional investors own 78.43% of the company’s stock.
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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