Netflix, Inc. (NFLX) Downgraded to “Buy” at Vetr Inc.
Vetr lowered shares of Netflix, Inc. (NASDAQ:NFLX) from a strong-buy rating to a buy rating in a research note published on Monday. Vetr currently has $168.56 price target on the Internet television network’s stock.
A number of other brokerages have also recently commented on NFLX. Cantor Fitzgerald upped their price target on Netflix from $165.00 to $190.00 and gave the stock an overweight rating in a research report on Tuesday, June 6th. Sanford C. Bernstein restated a buy rating and issued a $178.00 price target on shares of Netflix in a research report on Wednesday, May 31st. William Blair restated an outperform rating on shares of Netflix in a research report on Thursday, May 25th. Instinet restated a buy rating on shares of Netflix in a research report on Friday, June 2nd. Finally, MKM Partners restated a buy rating and issued a $195.00 price target (up previously from $175.00) on shares of Netflix in a research report on Monday, May 29th. Two equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-eight have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $148.79.
Shares of Netflix (NASDAQ:NFLX) traded down 0.49% during midday trading on Monday, reaching $152.65. The company had a trading volume of 1,239,793 shares. Netflix has a 1-year low of $84.50 and a 1-year high of $166.87. The stock has a market capitalization of $65.79 billion, a PE ratio of 197.48 and a beta of 0.96. The company’s 50-day moving average is $158.47 and its 200-day moving average is $143.35.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, April 17th. The Internet television network reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.03. The business had revenue of $2.64 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Netflix had a return on equity of 12.73% and a net margin of 3.55%. The business’s quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.06 earnings per share. On average, equities research analysts forecast that Netflix will post $1.04 EPS for the current year.
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In other Netflix news, General Counsel David A. Hyman sold 14,021 shares of Netflix stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $150.00, for a total transaction of $2,103,150.00. Following the completion of the sale, the general counsel now owns 41,629 shares of the company’s stock, valued at approximately $6,244,350. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gregory K. Peters sold 6,853 shares of Netflix stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $164.29, for a total value of $1,125,879.37. Following the sale, the insider now directly owns 19,943 shares of the company’s stock, valued at approximately $3,276,435.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 314,881 shares of company stock valued at $47,857,636. 4.90% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. Clean Yield Group bought a new position in shares of Netflix during the first quarter valued at about $103,000. SRS Capital Advisors Inc. boosted its position in shares of Netflix by 3,361.9% in the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock valued at $107,000 after buying an additional 706 shares during the period. Harfst & Associates Inc. bought a new position in shares of Netflix during the first quarter valued at about $109,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Netflix during the fourth quarter valued at about $114,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. boosted its position in shares of Netflix by 24.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 770 shares of the Internet television network’s stock valued at $114,000 after buying an additional 150 shares during the period. 82.77% of the stock is owned by institutional investors and hedge funds.
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
To view Vetr’s full report, visit Vetr’s official website.
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