MKM Partners Reaffirms “Buy” Rating for Netflix Inc. (NFLX)
MKM Partners reissued their buy rating on shares of Netflix Inc. (NASDAQ:NFLX) in a research note released on Friday. The firm currently has a $130.00 price target on the Internet television network’s stock.
Other equities analysts have also issued research reports about the company. Needham & Company LLC lowered Netflix from a buy rating to a hold rating and boosted their price objective for the stock from $95.15 to $96.67 in a research note on Tuesday, July 5th. Bank of America Corp. reissued a buy rating and set a $146.00 price objective on shares of Netflix in a research note on Friday, August 26th. Wedbush boosted their price objective on Netflix from $45.00 to $50.00 and gave the stock an underperform rating in a research note on Tuesday, July 19th. Vetr lowered Netflix from a strong-buy rating to a buy rating and set a $102.41 price objective on the stock. in a research note on Wednesday, July 27th. Finally, Piper Jaffray Cos. reissued an overweight rating and set a $122.00 price objective on shares of Netflix in a research note on Wednesday, September 7th. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-eight have assigned a buy rating to the stock. Netflix has a consensus rating of Hold and a consensus target price of $115.73.
Shares of Netflix (NASDAQ:NFLX) opened at 118.79 on Friday. The stock has a market cap of $50.93 billion, a price-to-earnings ratio of 371.22 and a beta of 1.14. The company’s 50-day moving average price is $99.60 and its 200 day moving average price is $96.38. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.06. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Netflix had a return on equity of 6.45% and a net margin of 1.99%. The business’s revenue was up 31.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. On average, equities analysts predict that Netflix will post $0.28 earnings per share for the current year.
In related news, Director Richard N. Barton sold 700 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $93.87, for a total value of $65,709.00. Following the completion of the sale, the director now directly owns 15,562 shares of the company’s stock, valued at $1,460,804.94. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Reed Hastings sold 116,431 shares of the business’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $86.59, for a total value of $10,081,760.29. Following the completion of the sale, the chief executive officer now directly owns 116,431 shares of the company’s stock, valued at $10,081,760.29. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Cornerstone Advisors Inc. raised its stake 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 valued at $102,000 after buying an additional 228 shares in the last quarter. Signature Estate & Investment Advisors LLC bought a new position in shares of Netflix during the second quarter worth approximately $124,000. Quadrant Capital Group LLC increased 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 last quarter. Coconut Grove Bank increased 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 last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased 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 last quarter. 78.41% 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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