Netflix Inc. (NFLX) Price Target Lowered to $90.00 at FBR & Co
Netflix Inc. (NASDAQ:NFLX) had its price target lowered by FBR & Co from $100.00 to $90.00 in a research note published on Tuesday morning. The firm currently has a mkt perform rating on the Internet television network’s stock.
A number of other research analysts have also recently commented on the stock. Axiom Securities raised their price target on shares of Netflix from $80.00 to $84.00 and gave the stock a sell rating in a research note on Tuesday. SunTrust Banks Inc. raised their price objective on shares of Netflix from $110.00 to $115.00 and gave the stock a hold rating in a report on Tuesday. Credit Suisse Group AG dropped their price objective on shares of Netflix from $132.00 to $130.00 and set a neutral rating for the company in a report on Tuesday. Deutsche Bank AG reaffirmed a sell rating and set a $90.00 price objective on shares of Netflix in a report on Tuesday. Finally, Robert W. Baird reaffirmed a neutral rating and set a $120.00 price objective (up previously from $94.00) on shares of Netflix in a report on Tuesday. Eight 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 currently has an average rating of Hold and a consensus target price of $115.73.
Shares of Netflix (NASDAQ:NFLX) traded up 1.30% during midday trading on Tuesday, hitting $120.34. The stock had a trading volume of 3,916,235 shares. The stock has a 50-day moving average of $99.60 and a 200 day moving average of $96.38. The stock has a market cap of $51.59 billion, a PE ratio of 376.06 and a beta of 1.14. Netflix has a 52 week low of $79.95 and a 52 week high of $133.27.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.06. The firm earned $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Netflix had a net margin of 1.99% and a return on equity of 6.45%. The company’s revenue for the quarter was up 31.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.07 earnings per share. Analysts anticipate that Netflix will post $0.28 EPS for the current fiscal year.
In other Netflix news, Director Jay C. Hoag bought 600,000 shares of Netflix stock in a transaction dated Monday, July 25th. The stock was purchased at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard N. Barton sold 2,800 shares of Netflix stock in a transaction dated 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 transaction, the director now owns 15,254 shares of the company’s stock, valued at approximately $1,590,534.58. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of NFLX. Winslow Capital Management LLC acquired a new position in Netflix during the second quarter valued at $209,447,000. Capital World Investors increased 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 valued at $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 Netflix during the first quarter valued at $94,076,000. Capital Research Global Investors increased 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 valued at $4,571,055,000 after buying an additional 761,325 shares during the last quarter. Finally, Criterion Capital Management LLC increased 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 valued at $90,700,000 after buying an additional 701,119 shares during the last quarter. Hedge funds and other institutional investors own 78.41% of the company’s stock.
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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