Netflix Inc. (NFLX) Earns “Underperform” Rating from Jefferies Group
Jefferies Group restated their underperform rating on shares of Netflix Inc. (NASDAQ:NFLX) in a report released on Wednesday morning. They currently have a $76.00 price objective on the Internet television network’s stock.
Several other research analysts also recently weighed in on the stock. Needham & Company LLC restated a hold rating on shares of Netflix in a report on Wednesday, October 12th. Vetr upgraded shares of Netflix from a hold rating to a buy rating and set a $106.17 target price for the company in a report on Tuesday, October 11th. Raymond James Financial Inc. set a $120.00 target price on shares of Netflix and gave the company a buy rating in a report on Monday, October 10th. Deutsche Bank AG started coverage on shares of Netflix in a report on Monday, October 10th. They issued a sell rating and a $90.00 target price for the company. They noted that the move was a valuation call. Finally, FBR & Co reiterated a market perform rating and issued a $90.00 target price on shares of Netflix in a report on Wednesday, October 5th. Eight investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $110.04.
Shares of Netflix (NASDAQ:NFLX) opened at 99.80 on Wednesday. The firm has a market cap of $42.79 billion, a PE ratio of 311.88 and a beta of 1.14. The firm has a 50-day moving average of $98.99 and a 200 day moving average of $96.28. Netflix has a 52 week low of $79.95 and a 52 week high of $133.27.
Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.06. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the company posted $0.07 earnings per share. The business’s revenue was up 31.7% on a year-over-year basis. Equities research analysts predict that Netflix will post $0.28 EPS for the current fiscal year.
In other news, Director Richard N. Barton sold 1,400 shares of the stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $93.58, for a total transaction of $131,012.00. Following the transaction, the director now owns 15,562 shares of the company’s stock, valued at approximately $1,456,291.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard N. Barton sold 2,800 shares of the stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $104.27, for a total value of $291,956.00. Following the transaction, the director now directly owns 15,254 shares in the company, valued at approximately $1,590,534.58. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Cornerstone Advisors Inc. increased its position in 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 last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Netflix during the second quarter worth about $124,000. Quadrant Capital Group LLC increased its position in 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 last quarter. Coconut Grove Bank increased its position in 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 last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in 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 last quarter. 78.41% of the stock is currently owned by institutional investors and hedge funds.
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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