FBR & Co Reaffirms “Market Perform” Rating for Netflix Inc. (NFLX)
FBR & Co reaffirmed their market perform rating on shares of Netflix Inc. (NASDAQ:NFLX) in a research note published on Thursday. They currently have a $90.00 target price on the Internet television network’s stock.
A number of other analysts have also recently weighed in on the stock. Jefferies Group reissued a hold rating and set a $120.00 price objective on shares of Netflix in a report on Monday, July 11th. Cantor Fitzgerald reissued a buy rating on shares of Netflix in a report on Sunday, August 14th. Piper Jaffray Cos. reissued an overweight rating and set a $122.00 price objective on shares of Netflix in a report on Tuesday, July 12th. MKM Partners cut their price objective on shares of Netflix from $145.00 to $130.00 and set a buy rating on the stock in a report on Wednesday, July 20th. Finally, Vetr cut shares of Netflix from a strong-buy rating to a buy rating and set a $102.41 price objective on the stock. in a report on Wednesday, July 27th. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have assigned a buy rating to the stock. The company has an average rating of Hold and an average target price of $110.46.
Netflix (NASDAQ:NFLX) opened at 98.06 on Thursday. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The company’s 50 day moving average is $96.47 and its 200 day moving average is $96.23. The company has a market cap of $42.04 billion, a price-to-earnings ratio of 306.44 and a beta of 1.71.
Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter last year, the company earned $0.06 earnings per share. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities research analysts forecast that Netflix will post $0.29 EPS for the current year.
In related news, Director Richard N. Barton sold 700 shares of the stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $95.03, for a total value of $66,521.00. Following the completion of the sale, the director now directly owns 15,562 shares of the company’s stock, valued at approximately $1,478,856.86. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard N. Barton sold 1,400 shares of the stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $95.63, for a total value of $133,882.00. Following the completion of the sale, the director now directly owns 15,562 shares of the company’s stock, valued at $1,488,194.06. The disclosure for this sale can be found here. 4.90% of the stock is owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Netflix during the fourth quarter valued at about $305,275,000. Winslow Capital Management LLC acquired a new stake in shares of Netflix during the second quarter valued at about $209,447,000. Capital World Investors increased its stake in shares of 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 in the last quarter. Jericho Capital Asset Management L.P. acquired a new stake in shares of Netflix during the first quarter valued at about $94,076,000. Finally, Capital Research Global Investors increased its stake in shares of 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 in the last quarter. 78.43% of the stock is 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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