Netflix Inc. (NFLX) Downgraded by Vetr Inc. to “Hold”
Netflix Inc. (NASDAQ:NFLX) was downgraded by equities researchers at Vetr from a “buy” rating to a “hold” rating in a research note issued to investors on Monday. They presently have a $102.77 price objective on the Internet television network’s stock. Vetr‘s price target would suggest a potential upside of 3.31% from the company’s current price.
A number of other equities analysts also recently issued reports on the stock. RBC Capital Markets reissued a “buy” rating on shares of Netflix in a report on Thursday. FBR & Co reissued a “market perform” rating and issued a $90.00 price objective on shares of Netflix in a report on Thursday. Macquarie downgraded shares of Netflix from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $133.27 to $85.00 in a report on Tuesday, September 13th. They noted that the move was a valuation call. Cantor Fitzgerald reissued a “buy” rating on shares of Netflix in a report on Friday, September 9th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $122.00 price objective on shares of Netflix in a report on Wednesday, September 7th. Seven equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-six have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $110.45.
Shares of Netflix (NASDAQ:NFLX) opened at 99.48 on Monday. The company has a market cap of $42.65 billion, a price-to-earnings ratio of 310.88 and a beta of 1.71. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27. The stock has a 50 day moving average of $95.74 and a 200 day moving average of $96.19.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. The company had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.11 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.06 earnings per share. On average, equities research analysts expect that Netflix will post $0.29 EPS for the current year.
In related news, Director Richard N. Barton sold 700 shares of the firm’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $95.03, for a total transaction of $66,521.00. Following the completion of the transaction, the director now directly owns 15,562 shares in the company, valued at approximately $1,478,856.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 1,400 shares of the firm’s stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $95.63, for a total value of $133,882.00. Following the transaction, the director now owns 15,562 shares of the company’s stock, valued at $1,488,194.06. 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 made changes to their positions in the stock. Winslow Capital Management LLC purchased a new position in shares of Netflix during the second quarter worth approximately $209,447,000. Capital World Investors boosted its position 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 worth $608,976,000 after buying an additional 1,630,881 shares during the period. Jericho Capital Asset Management L.P. purchased a new position in shares of Netflix during the first quarter worth approximately $94,076,000. Capital Research Global Investors boosted its position 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 worth $4,571,055,000 after buying an additional 761,325 shares during the period. Finally, Criterion Capital Management LLC boosted its position in shares of Netflix by 241.5% in the second quarter. Criterion Capital Management LLC now owns 991,469 shares of the Internet television network’s stock worth $90,700,000 after buying an additional 701,119 shares during the period. Institutional investors own 78.43% 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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