Jefferies Group reissued their underperform rating on shares of Netflix Inc. (NASDAQ:NFLX) in a research report sent to investors on Tuesday morning. They currently have a $80.00 price target on the Internet television network’s stock, up from their prior price target of $76.00.
Several other research firms have also weighed in on NFLX. JPMorgan Chase & Co. restated an overweight rating and set a $116.00 price target (down previously from $125.00) on shares of Netflix in a research report on Tuesday, July 19th. MKM Partners reduced their price target on shares of Netflix from $145.00 to $130.00 and set a buy rating for the company in a research report on Wednesday, July 20th. Vetr upgraded shares of Netflix from a hold rating to a buy rating and set a $103.71 price target for the company in a research report on Thursday, September 8th. BMO Capital Markets restated a market perform rating and set a $85.00 price target on shares of Netflix in a research report on Thursday, July 28th. Finally, Stifel Nicolaus restated a buy rating and set a $120.00 price target (down previously from $143.00) on shares of Netflix in a research report on Tuesday, July 19th. Eight investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $115.73.
Shares of Netflix (NASDAQ:NFLX) traded up 1.38% during trading on Tuesday, hitting $120.43. 3,877,536 shares of the stock traded hands. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The stock has a 50-day moving average of $99.60 and a 200 day moving average of $96.38. The company has a market cap of $51.63 billion, a P/E ratio of 376.34 and a beta of 1.14.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.06. The company earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Netflix had a net margin of 1.99% and a return on equity of 6.45%. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.07 earnings per share. On average, equities research analysts predict that Netflix will post $0.28 EPS for the current fiscal year.
In other news, Director Richard N. Barton sold 700 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay C. Hoag acquired 600,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The shares were purchased at an average cost of $86.43 per share, for a total transaction of $51,858,000.00. The disclosure for this purchase can be found here. Insiders own 4.90% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Adage Capital Partners GP L.L.C. boosted its stake in shares of 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 valued at $66,036,000 after buying an additional 265,678 shares during the period. Scopia Capital Management LP boosted its stake in shares of 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 valued at $188,757,000 after buying an additional 656,585 shares during the period. Natixis purchased a new stake in shares of Netflix during the first quarter valued at about $47,023,000. Private Capital Management Inc. purchased a new stake in shares of Netflix during the second quarter valued at about $631,000. Finally, Advisory Services Network LLC boosted its stake in shares of Netflix by 15.0% in the second quarter. Advisory Services Network LLC now owns 5,415 shares of the Internet television network’s stock valued at $495,000 after buying an additional 706 shares during the period. 78.41% of the stock is currently owned by institutional investors and hedge funds.
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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