Vetr Inc. Lowers Netflix Inc. (NFLX) to Hold
Vetr cut shares of Netflix Inc. (NASDAQ:NFLX) from a buy rating to a hold rating in a report issued on Monday morning. They currently have $102.77 price objective on the Internet television network’s stock.
NFLX has been the topic of several other research reports. Cantor Fitzgerald reissued a buy rating on shares of Netflix in a research note on Friday, September 9th. FBR & Co reissued a market perform rating and set a $90.00 price objective on shares of Netflix in a research note on Thursday, September 15th. RBC Capital Markets reaffirmed an outperform rating and set a $130.00 price target on shares of Netflix in a research note on Monday, August 29th. Bank of America Corp. reaffirmed a buy rating and set a $146.00 price target on shares of Netflix in a research note on Friday, August 26th. Finally, William Blair raised shares of Netflix from a market perform rating to an outperform rating in a research note on Wednesday, August 24th. Seven analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $110.46.
Netflix (NASDAQ:NFLX) opened at 94.88 on Monday. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The firm has a 50 day moving average of $96.62 and a 200 day moving average of $96.19. The firm has a market cap of $40.68 billion, a P/E ratio of 296.50 and a beta of 1.71.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.07. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.11 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 earnings per share. On average, equities research analysts expect that Netflix will post $0.29 EPS for the current year.
In other Netflix news, Director Richard N. Barton sold 700 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $98.78, for a total value of $69,146.00. Following the sale, the director now owns 15,562 shares of the company’s stock, valued at approximately $1,537,214.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jay C. Hoag purchased 600,000 shares of the 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. Corporate insiders own 4.90% of the company’s stock.
A number of large investors have recently made changes to their positions in NFLX. Cornerstone Advisors Inc. raised its stake in shares of 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 during the period. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Netflix during the second quarter valued at about $124,000. Quadrant Capital Group LLC raised its stake in shares of 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 during the period. Coconut Grove Bank raised its stake in shares of 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 during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in shares of 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 during the period. 78.43% of the stock is currently owned by hedge funds and other institutional investors.
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.
To view Vetr’s full report, visit Vetr’s official website.
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