Netflix Inc. (NFLX) Receives “Neutral” Rating from Robert W. Baird
Robert W. Baird reaffirmed their neutral rating on shares of Netflix Inc. (NASDAQ:NFLX) in a research note issued to investors on Tuesday. The firm currently has a $94.00 target price on the Internet television network’s stock.
A number of other brokerages also recently weighed in on NFLX. JPMorgan Chase & Co. reissued an overweight rating and issued a $116.00 price target (down from $125.00) on shares of Netflix in a 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 report on Wednesday, July 20th. Vetr raised shares of Netflix from a hold rating to a buy rating and set a $103.71 price target for the company in a report on Thursday, September 8th. BMO Capital Markets reissued a market perform rating and issued a $85.00 price target on shares of Netflix in a report on Thursday, July 28th. Finally, Jefferies Group reaffirmed an underperform rating and set a $76.00 price objective on shares of Netflix in a report on Friday, September 23rd. Seven equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $110.97.
Netflix (NASDAQ:NFLX) traded up 2.27% on Tuesday, reaching $104.66. 2,834,801 shares of the company’s stock traded hands. The stock has a market capitalization of $44.87 billion, a PE ratio of 327.06 and a beta of 1.14. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27. The firm’s 50-day moving average is $97.38 and its 200 day moving average is $96.17.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The firm earned $2.11 billion during the quarter, compared to the consensus estimate of $2.11 billion. During the same period in the prior year, the firm earned $0.06 EPS. The business’s revenue was up 19.5% on a year-over-year basis. Analysts forecast that Netflix will post $0.29 EPS for the current year.
In related news, Director Jay C. Hoag bought 600,000 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was purchased at an average price of $86.43 per share, with a total value of $51,858,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Reed Hastings sold 116,431 shares of the stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $86.59, for a total transaction of $10,081,760.29. Following the completion of the transaction, the chief executive officer now directly owns 116,431 shares of the company’s stock, valued at approximately $10,081,760.29. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of NFLX. Cornerstone Advisors Inc. raised its position 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 worth $102,000 after buying an additional 228 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in shares of Netflix during the second quarter worth about $124,000. Quadrant Capital Group LLC raised its position 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 worth $126,000 after buying an additional 194 shares during the period. Coconut Grove Bank raised its position 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 worth $140,000 after buying an additional 26 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its position 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 worth $155,000 after buying an additional 224 shares during the period. 78.43% of the stock is owned by hedge funds and other institutional investors.
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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