Netflix’s (NFLX) “Underperform” Rating Reaffirmed at Wedbush
Wedbush restated their underperform rating on shares of Netflix Inc. (NASDAQ:NFLX) in a research note released on Friday. The firm currently has a $45.00 price objective on the Internet television network’s stock.
Several other research analysts have also recently issued reports on the company. JPMorgan Chase & Co. raised their price objective on Netflix from $116.00 to $125.00 and gave the stock an overweight rating in a research note on Tuesday, September 27th. Zacks Investment Research upgraded Netflix from a hold rating to a buy rating and set a $107.00 price objective for the company in a research note on Monday, September 26th. Jefferies Group restated an underperform rating and issued a $76.00 price objective on shares of Netflix in a research note on Friday, September 23rd. Vetr upgraded Netflix from a hold rating to a buy rating and set a $102.90 price objective for the company in a research note on Tuesday, September 20th. Finally, RBC Capital Markets restated a buy rating on shares of Netflix in a research note on Thursday, September 15th. Seven research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-eight have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $110.59.
Netflix (NASDAQ:NFLX) traded up 4.09% on Friday, reaching $102.58. The company’s stock had a trading volume of 6,463,097 shares. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The company has a market capitalization of $43.98 billion, a price-to-earnings ratio of 320.56 and a beta of 1.14. The firm has a 50-day moving average of $97.01 and a 200 day moving average of $96.17.
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, topping 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 firm earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same period last year, the business posted $0.06 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities research analysts anticipate that Netflix will post $0.29 EPS for the current fiscal year.
In other Netflix news, CEO Reed Hastings sold 84,665 shares of the stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $98.47, for a total transaction of $8,336,962.55. Following the sale, the chief executive officer now owns 68,065 shares in the company, valued at approximately $6,702,360.55. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard N. Barton sold 700 shares of the stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $95.00, for a total value of $66,500.00. Following the sale, the director now owns 15,562 shares in the company, valued at approximately $1,478,390. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.
A number of large investors have recently made changes to their positions in NFLX. Macquarie Group Ltd. boosted its stake in shares of Netflix by 34.9% in the second quarter. Macquarie Group Ltd. now owns 115,690 shares of the Internet television network’s stock worth $10,583,000 after buying an additional 29,915 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Netflix during the second quarter worth approximately $1,582,000. Kentucky Retirement Systems bought a new stake in shares of Netflix during the second quarter worth approximately $3,332,000. Mason Street Advisors LLC bought a new stake in shares of Netflix during the second quarter worth approximately $5,277,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Netflix by 7.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,893 shares of the Internet television network’s stock worth $539,000 after buying an additional 390 shares during the period. Hedge funds and other institutional investors own 78.43% of the company’s stock.
Netflix Company Profile
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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