Netflix Inc. (NFLX) Price Target Cut to $90.00 by Analysts at FBR & Co
Netflix Inc. (NASDAQ:NFLX) had its price objective reduced by FBR & Co from $100.00 to $90.00 in a report released on Tuesday morning. They currently have a mkt perform rating on the Internet television network’s stock.
NFLX has been the subject of a number of other reports. Vetr raised Netflix from a hold rating to a buy rating and set a $102.90 price objective for the company in a report on Tuesday, September 20th. Cantor Fitzgerald restated a buy rating on shares of Netflix in a research report on Friday, September 9th. Wedbush set a $45.00 target price on Netflix and gave the stock a sell rating in a research report on Thursday, October 13th. RBC Capital Markets restated an outperform rating and issued a $130.00 target price on shares of Netflix in a research report on Monday, August 29th. Finally, Jefferies Group restated an underperform rating and issued a $76.00 target price on shares of Netflix in a research report on Friday, September 23rd. Eight research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $115.73.
Shares of Netflix (NASDAQ:NFLX) traded up 1.30% during midday trading on Tuesday, hitting $120.33. The stock had a trading volume of 3,917,680 shares. The firm has a market cap of $51.59 billion, a price-to-earnings ratio of 376.03 and a beta of 1.14. Netflix has a 12-month low of $79.95 and a 12-month high of $133.27. The company’s 50-day moving average price is $99.60 and its 200-day moving average price is $96.38.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. Netflix had a return on equity of 6.45% and a net margin of 1.99%. The business earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same period in the prior year, the company posted $0.07 EPS. The business’s revenue for the quarter was up 31.7% compared to the same quarter last year. Equities research analysts forecast that Netflix will post $0.28 EPS for the current year.
In other Netflix news, Director Richard N. Barton sold 1,400 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $93.58, for a total value of $131,012.00. Following the completion of the sale, the director now directly owns 15,562 shares in the company, valued at $1,456,291.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 2,800 shares of the firm’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $104.27, for a total transaction of $291,956.00. Following the completion of the sale, the director now owns 15,254 shares of the company’s stock, valued at $1,590,534.58. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Winslow Capital Management LLC acquired a new position in Netflix during the second quarter worth $209,447,000. Capital World Investors raised 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 period. Jericho Capital Asset Management L.P. acquired a new position in Netflix during the first quarter worth $94,076,000. Capital Research Global Investors raised its position in 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 period. Finally, Criterion Capital Management LLC raised its position in 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 period. 78.41% of the stock is currently owned by hedge funds and other institutional investors.
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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