Netflix Inc. (NASDAQ:NFLX)‘s stock had its “underperform” rating reaffirmed by equities research analysts at Wedbush in a research note issued on Friday. They currently have a $45.00 target price on the Internet television network’s stock. Wedbush’s price target would suggest a potential downside of 56.15% from the stock’s previous close.
A number of other equities research analysts have also recently issued reports on the company. JPMorgan Chase & Co. raised their target price on Netflix from $116.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, September 27th. Zacks Investment Research raised Netflix from a “hold” rating to a “buy” rating and set a $107.00 price target on the stock in a report on Monday, September 26th. Jefferies Group reissued an “underperform” rating and set a $76.00 price target on shares of Netflix in a report on Friday, September 23rd. Vetr raised Netflix from a “hold” rating to a “buy” rating and set a $102.90 price target on the stock in a report on Tuesday, September 20th. Finally, RBC Capital Markets reissued a “buy” rating on shares of Netflix in a report on Thursday, September 15th. Seven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-seven have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $110.66.
Shares of Netflix (NASDAQ:NFLX) opened at 102.63 on Friday. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27. The stock has a market capitalization of $44.00 billion, a price-to-earnings ratio of 320.72 and a beta of 1.14. The company has a 50 day moving average of $97.18 and a 200 day moving average of $96.16.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. The company had revenue of $2.11 billion for 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%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the business posted $0.06 earnings per share. Analysts predict that Netflix will post $0.29 EPS for the current fiscal year.
In other Netflix news, Director Richard N. Barton sold 700 shares of Netflix stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $95.03, for a total value of $66,521.00. Following the transaction, the director now directly owns 15,562 shares of the company’s stock, valued at approximately $1,478,856.86. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jay C. Hoag purchased 600,000 shares of the company’s stock in a transaction on Monday, July 25th. The stock was acquired 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. 4.90% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Adage Capital Partners GP L.L.C. boosted 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 in the last quarter. Scopia Capital Management LP boosted 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 in the last quarter. Natixis purchased a new stake in Netflix during the first quarter worth about $47,023,000. Private Capital Management Inc. purchased a new stake in Netflix during the second quarter worth about $631,000. Finally, Allen Investment Management LLC boosted 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 in the last quarter. Institutional investors and hedge funds 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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