Netflix, Inc. (NFLX) Earns “Buy” Rating from Cantor Fitzgerald
Netflix, Inc. (NASDAQ:NFLX)‘s stock had its “buy” rating reiterated by Cantor Fitzgerald in a research report issued on Thursday. They presently have a $205.00 price objective on the Internet television network’s stock. Cantor Fitzgerald’s price target suggests a potential upside of 5.46% from the stock’s previous close.
Other equities analysts also recently issued research reports about the stock. BMO Capital Markets reaffirmed a “market perform” rating and set a $180.00 price target (up previously from $150.00) on shares of Netflix in a report on Tuesday, July 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Netflix in a report on Tuesday, July 18th. Bank of America Corporation reaffirmed a “buy” rating and set a $199.00 price target (up previously from $184.00) on shares of Netflix in a report on Tuesday, July 18th. Vetr raised shares of Netflix from a “sell” rating to a “hold” rating and set a $165.09 price target on the stock in a report on Wednesday, August 16th. Finally, FBR & Co reaffirmed a “hold” rating on shares of Netflix in a report on Thursday. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirty-one have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $184.20.
Netflix (NFLX) traded up 1.21% during mid-day trading on Thursday, reaching $196.74. 5,449,517 shares of the company were exchanged. The stock has a 50 day moving average of $177.87 and a 200-day moving average of $163.29. Netflix has a one year low of $97.63 and a one year high of $197.08. The stock has a market capitalization of $84.94 billion, a price-to-earnings ratio of 239.34 and a beta of 1.09. Netflix also saw unusually large options trading activity on Thursday. Traders purchased 122,784 call options on the company. This is an increase of approximately 283% compared to the average volume of 32,078 call options.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). Netflix had a net margin of 3.55% and a return on equity of 12.82%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the prior year, the firm earned $0.09 EPS. Netflix’s revenue for the quarter was up 32.3% compared to the same quarter last year. On average, equities analysts expect that Netflix will post $1.17 earnings per share for the current fiscal year.
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In other news, Director Richard N. Barton sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $179.89, for a total transaction of $359,780.00. Following the sale, the director now owns 7,930 shares of the company’s stock, valued at approximately $1,426,527.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard N. Barton sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $187.79, for a total transaction of $187,790.00. Following the sale, the director now directly owns 7,198 shares in the company, valued at approximately $1,351,712.42. The disclosure for this sale can be found here. Insiders have sold a total of 310,325 shares of company stock worth $55,807,018 in the last ninety days. Corporate insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of NFLX. Almanack Investment Partners LLC. acquired a new stake in shares of Netflix during the 2nd quarter worth approximately $101,000. TD Capital Management LLC acquired a new stake in shares of Netflix during the 2nd quarter worth approximately $105,000. SRS Capital Advisors Inc. grew its stake in shares of Netflix by 3,361.9% during the 1st quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock worth $107,000 after purchasing an additional 706 shares during the period. Harfst & Associates Inc. acquired a new stake in shares of Netflix during the 1st quarter worth approximately $109,000. Finally, Aviance Capital Management LLC acquired a new stake in shares of Netflix during the 2nd quarter worth approximately $137,000. 81.03% of the stock is currently owned by institutional investors and hedge funds.
Netflix Company Profile
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.
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