Needham & Company LLC Reiterates Hold Rating for Netflix Inc. (NFLX)
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “hold” rating reiterated by equities research analysts at Needham & Company LLC in a note issued to investors on Wednesday.
NFLX has been the topic of a number of other research reports. Bank of America Corp. restated a “buy” rating and set a $146.00 price objective on shares of Netflix in a research note on Friday, August 26th. Wedbush lifted their target price on Netflix from $45.00 to $50.00 and gave the stock an “underperform” rating in a research report on Tuesday, July 19th. Vetr lowered Netflix from a “strong-buy” rating to a “buy” rating and set a $102.41 target price on the stock. in a research report on Wednesday, July 27th. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $122.00 target price on shares of Netflix in a research report on Wednesday, September 7th. Finally, Zacks Investment Research raised Netflix from a “hold” rating to a “buy” rating and set a $105.00 target price on the stock in a research report on Tuesday, June 21st. Eight analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-eight have given a buy rating to the company. Netflix has a consensus rating of “Hold” and a consensus price target of $110.32.
Netflix (NASDAQ:NFLX) opened at 100.23 on Wednesday. Netflix has a 52 week low of $79.95 and a 52 week high of $133.27. The firm has a market cap of $42.97 billion, a price-to-earnings ratio of 313.22 and a beta of 1.14. The stock has a 50 day moving average price of $98.81 and a 200 day moving average price of $96.40.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, July 18th. The Internet television network reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.11 billion. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Equities research analysts expect that Netflix will post $0.28 EPS for the current year.
In other news, Director Richard N. Barton sold 1,400 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $93.58, for a total transaction of $131,012.00. Following the sale, the director now directly owns 15,562 shares of the company’s stock, valued at $1,456,291.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Reed Hastings sold 116,431 shares of the stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $86.59, for a total transaction of $10,081,760.29. Following the sale, 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. Insiders own 4.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Winslow Capital Management LLC bought a new stake in Netflix during the second quarter valued at approximately $209,447,000. Capital World Investors boosted its position in shares of 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. Jericho Capital Asset Management L.P. acquired a new position in shares of Netflix during the first quarter worth about $94,076,000. 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 worth $4,571,055,000 after buying an additional 761,325 shares during the last quarter. Finally, Criterion Capital Management LLC boosted its position in shares of Netflix by 241.5% in the second quarter. Criterion Capital Management LLC now owns 991,469 shares of the Internet television network’s stock worth $90,700,000 after buying an additional 701,119 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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