Netflix’s (NFLX) “Overweight” Rating Reaffirmed at Morgan Stanley
Morgan Stanley restated their overweight rating on shares of Netflix, Inc. (NASDAQ:NFLX) in a report issued on Thursday. They currently have a $150.00 price target on the Internet television network’s stock.
A number of other research firms have also issued reports on NFLX. Wedbush reaffirmed an underperform rating and issued a $60.00 target price on shares of Netflix in a research note on Tuesday. Jefferies Group reissued an underperform rating and set a $80.00 price target on shares of Netflix in a research note on Thursday. Robert W. Baird reissued a neutral rating and set a $120.00 price target on shares of Netflix in a research note on Thursday, January 5th. Goldman Sachs Group, Inc. (The) reissued a buy rating on shares of Netflix in a research note on Thursday, January 5th. Finally, Vetr lowered Netflix from a hold rating to a sell rating and set a $119.15 price target on the stock. in a research note on Tuesday, December 27th. Seven analysts have rated the stock with a sell rating, sixteen 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 an average target price of $120.41.
Netflix (NASDAQ:NFLX) traded up 3.50% on Thursday, reaching $133.70. The company had a trading volume of 10,473,562 shares. The stock’s 50 day moving average is $123.08 and its 200-day moving average is $106.56. The stock has a market capitalization of $57.38 billion, a P/E ratio of 361.35 and a beta of 1.67. Netflix has a 1-year low of $79.95 and a 1-year high of $133.93.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. Netflix had a return on equity of 6.31% and a net margin of 1.99%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the company earned $0.07 EPS. Netflix’s revenue was up 31.7% on a year-over-year basis. On average, equities analysts predict that Netflix will post $0.41 EPS for the current fiscal year.
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In other Netflix news, insider Theodore A. Sarandos sold 91,966 shares of the company’s stock in a transaction that occurred on Tuesday, October 18th. The shares were sold at an average price of $116.63, for a total value of $10,725,994.58. Following the completion of the sale, the insider now owns 15,204 shares of the company’s stock, valued at $1,773,242.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Timothy M. Haley sold 23,728 shares of the company’s stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $126.14, for a total transaction of $2,993,049.92. Following the completion of the sale, the director now directly owns 9,576 shares of the company’s stock, valued at approximately $1,207,916.64. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
A number of large investors have recently modified their holdings of NFLX. Conning Inc. increased its stake in shares of Netflix by 0.3% in the second quarter. Conning Inc. now owns 10,915 shares of the Internet television network’s stock valued at $999,000 after buying an additional 30 shares during the last quarter. Deltec Asset Management LLC purchased a new stake in shares of Netflix during the second quarter valued at approximately $1,098,000. HL Financial Services LLC increased its stake in shares of Netflix by 27.9% in the second quarter. HL Financial Services LLC now owns 2,813 shares of the Internet television network’s stock valued at $257,000 after buying an additional 613 shares during the last quarter. Pitcairn Co. increased its stake in shares of Netflix by 45.3% in the second quarter. Pitcairn Co. now owns 7,704 shares of the Internet television network’s stock valued at $705,000 after buying an additional 2,402 shares during the last quarter. Finally, Seven Bridges Advisors LLC increased its stake in shares of Netflix by 1.2% in the second quarter. Seven Bridges Advisors LLC now owns 8,939 shares of the Internet television network’s stock valued at $818,000 after buying an additional 105 shares during the last quarter. 79.44% of the stock is owned by hedge funds and other institutional investors.
Netflix Company Profile
Netflix Inc is an Internet television network with over 86 million members in over 190 countries enjoying more than 125 million hours of television (TV) shows and movies per day, including original series, documentaries and feature films. Members can watch as much as they want, anytime, anywhere, on nearly any Internet-connected screen.
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