Netflix Inc. (NFLX) Upgraded to “Buy” by Vetr Inc.
Vetr upgraded shares of Netflix Inc. (NASDAQ:NFLX) from a hold rating to a buy rating in a report issued on Tuesday. They currently have $102.90 price target on the Internet television network’s stock.
Several other research analysts also recently weighed in on the company. RBC Capital Markets reiterated a buy rating on shares of Netflix in a research note on Thursday, September 15th. FBR & Co reiterated a market perform rating and issued a $90.00 target price on shares of Netflix in a research note on Thursday, September 15th. Macquarie downgraded Netflix from a neutral rating to an underperform rating and lowered their target price for the company from $133.27 to $85.00 in a research note on Tuesday, September 13th. They noted that the move was a valuation call. Cantor Fitzgerald reiterated a buy rating on shares of Netflix in a research note on Friday, September 9th. Finally, Piper Jaffray Cos. reiterated an overweight rating and issued a $122.00 target price on shares of Netflix in a research note on Wednesday, September 7th. Seven research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have assigned a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $110.46.
Netflix (NASDAQ:NFLX) opened at 98.25 on Tuesday. The firm has a 50-day moving average price of $96.58 and a 200-day moving average price of $96.20. The firm has a market capitalization of $42.12 billion, a P/E ratio of 307.03 and a beta of 1.71. Netflix has a one year low of $79.95 and a one year high of $133.27.
Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share 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 company 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% on a year-over-year basis. Equities analysts anticipate that Netflix will post $0.29 earnings per share for the current year.
In related news, Director Jay C. Hoag bought 600,000 shares of Netflix stock in a transaction that occurred on Monday, July 25th. The stock was acquired at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay C. Hoag bought 300,000 shares of Netflix stock in a transaction that occurred on Tuesday, August 9th. The stock was bought at an average price of $94.31 per share, with a total value of $28,293,000.00. The disclosure for this purchase can be found here. 4.90% of the stock is owned by insiders.
Several large investors 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 valued at $66,036,000 after buying an additional 265,678 shares during 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 valued at $188,757,000 after buying an additional 656,585 shares during the last quarter. Natixis bought a new stake in Netflix during the first quarter valued at $47,023,000. Private Capital Management Inc. bought a new stake in Netflix during the second quarter valued at $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 valued at $3,163,000 after buying an additional 778 shares during 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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