Netflix Inc. (NFLX) Rating Reiterated by Canaccord Genuity
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “buy” rating reissued by investment analysts at Canaccord Genuity in a research report issued to clients and investors on Monday. They currently have a $140.00 price objective on the Internet television network’s stock, up from their previous price objective of $115.00. Canaccord Genuity’s target price indicates a potential upside of 17.86% from the company’s current price.
Several other analysts also recently issued reports on NFLX. Nomura restated a “buy” rating and issued a $115.00 price objective (down from $125.00) on shares of Netflix in a research report on Monday, June 20th. Zacks Investment Research upgraded Netflix from a “hold” rating to a “buy” rating and set a $105.00 price objective on the stock in a research report on Tuesday, June 21st. Sanford C. Bernstein restated an “underperform” rating and issued a $62.00 price objective on shares of Netflix in a research report on Wednesday, June 22nd. Cantor Fitzgerald reiterated a “buy” rating and set a $140.00 target price on shares of Netflix in a research report on Thursday, June 23rd. Finally, Pacific Crest reiterated a “buy” rating and set a $130.00 target price on shares of Netflix in a research report on Wednesday, June 22nd. Eight research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Netflix currently has an average rating of “Hold” and a consensus target price of $115.51.
Netflix (NASDAQ:NFLX) opened at 118.79 on Monday. The firm has a market capitalization of $50.93 billion, a P/E ratio of 371.22 and a beta of 1.14. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27. The firm has a 50-day moving average price of $99.60 and a 200 day moving average price of $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, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.06. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the business earned $0.07 earnings per share. The business’s revenue was up 31.7% on a year-over-year basis. Analysts forecast that Netflix will post $0.28 EPS for the current year.
In other news, Director Jay C. Hoag purchased 600,000 shares of the stock in a transaction that occurred on Monday, July 25th. The shares were purchased at an average cost of $86.43 per share, for a total transaction of $51,858,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the chief executive officer now owns 116,431 shares in the company, valued at $10,081,760.29. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Adage Capital Partners GP L.L.C. raised its position in shares of Netflix by 69.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 645,960 shares of the Internet television network’s stock valued at $66,036,000 after buying an additional 265,678 shares in the last quarter. National Pension Service raised its position in shares of Netflix by 4.2% in the first quarter. National Pension Service now owns 215,392 shares of the Internet television network’s stock valued at $22,020,000 after buying an additional 8,623 shares in the last quarter. Hancock Holding Co. raised its position in shares of Netflix by 14.2% in the first quarter. Hancock Holding Co. now owns 120,712 shares of the Internet television network’s stock valued at $12,340,000 after buying an additional 15,029 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Netflix by 2.4% in the first quarter. Geode Capital Management LLC now owns 3,450,527 shares of the Internet television network’s stock valued at $352,036,000 after buying an additional 79,246 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its position in shares of Netflix by 2.5% in the first quarter. Pictet Asset Management Ltd. now owns 362,690 shares of the Internet television network’s stock valued at $33,879,000 after buying an additional 8,776 shares in the last quarter. Hedge funds and other institutional investors own 78.41% of the company’s stock.
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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