Netflix Inc. (NFLX) Receives “Outperform” Rating from Cowen and Company
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “outperform” rating reissued by equities researchers at Cowen and Company in a report released on Wednesday. They currently have a $110.00 price target on the Internet television network’s stock. Cowen and Company’s price objective would suggest a potential upside of 10.60% from the stock’s current price.
Several other equities analysts have also commented on the stock. Vetr raised shares of Netflix from a “hold” rating to a “buy” rating and set a $102.90 target price on the stock in a report on Tuesday, September 20th. Cantor Fitzgerald reissued a “buy” rating on shares of Netflix in a report on Friday, September 9th. FBR & Co reissued a “market perform” rating and issued a $90.00 target price on shares of Netflix in a report on Thursday, September 15th. RBC Capital Markets reissued an “outperform” rating and issued a $130.00 target price on shares of Netflix in a report on Monday, August 29th. Finally, Jefferies Group reissued an “underperform” rating and issued a $76.00 target price on shares of Netflix in a report on Friday, September 23rd. Eight analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $110.32.
Shares of Netflix (NASDAQ:NFLX) traded down 1.08% during trading on Wednesday, hitting $99.50. 7,417,992 shares of the stock were exchanged. Netflix has a 52 week low of $79.95 and a 52 week high of $133.27. The firm has a 50 day moving average price of $98.56 and a 200 day moving average price of $96.35. The firm has a market capitalization of $42.66 billion, a P/E ratio of 310.94 and a beta of 1.14.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 EPS for the quarter, topping 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 business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.11 billion. During the same period last year, the firm earned $0.06 earnings per share. Netflix’s revenue for the quarter was up 19.5% compared to the same quarter last year. Analysts forecast that Netflix will post $0.28 EPS for the current fiscal year.
In other news, Director Jay C. Hoag bought 600,000 shares of the company’s stock in a transaction on Monday, July 25th. The shares were acquired at an average cost of $86.43 per share, with a total value of $51,858,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Reed Hastings sold 116,431 shares of the firm’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $86.59, for a total value of $10,081,760.29. Following the completion of the transaction, the chief executive officer now directly owns 116,431 shares in the company, valued at $10,081,760.29. The disclosure for this sale can be found here. 4.90% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Research Global Investors boosted its position in shares of Netflix by 1.5% in the second quarter. Capital Research Global Investors now owns 49,967,802 shares of the Internet television network’s stock valued at $4,571,055,000 after buying an additional 761,325 shares during the last quarter. Vanguard Group Inc. boosted its position in Netflix by 2.0% in the second quarter. Vanguard Group Inc. now owns 25,054,115 shares of the Internet television network’s stock worth $2,291,951,000 after buying an additional 484,692 shares during the last quarter. Baillie Gifford & Co. boosted its position in Netflix by 4.5% in the second quarter. Baillie Gifford & Co. now owns 7,316,440 shares of the Internet television network’s stock worth $669,307,000 after buying an additional 314,275 shares during the last quarter. Capital World Investors boosted its position in Netflix by 32.4% in the second quarter. Capital World Investors now owns 6,656,926 shares of the Internet television network’s stock worth $608,976,000 after buying an additional 1,630,881 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Netflix by 2.4% in the first quarter. Geode Capital Management LLC now owns 3,450,527 shares of the Internet television network’s stock worth $352,036,000 after buying an additional 79,246 shares during the last quarter. 78.43% of the stock is currently owned by institutional investors and hedge funds.
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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