Netflix, Inc. (NFLX) Receives New Coverage from Analysts at Buckingham Research
Buckingham Research started coverage on shares of Netflix, Inc. (NASDAQ:NFLX) in a research report released on Thursday morning. The brokerage issued a buy rating and a $214.00 target price on the Internet television network’s stock.
Other equities research analysts have also recently issued reports about the stock. Vetr cut shares of Netflix from a strong-buy rating to a buy rating and set a $168.56 price objective for the company. in a research report on Monday, June 19th. Canaccord Genuity reissued a buy rating and issued a $165.00 price objective on shares of Netflix in a research report on Thursday, May 25th. Instinet reissued a buy rating on shares of Netflix in a research report on Friday, June 2nd. Sanford C. Bernstein reissued a buy rating and issued a $178.00 price objective on shares of Netflix in a research report on Wednesday, May 31st. Finally, MKM Partners reissued a buy rating and issued a $195.00 price objective (up from $175.00) on shares of Netflix in a research report on Monday, May 29th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $178.90.
Shares of Netflix (NFLX) traded down 0.8537% during trading on Thursday, hitting $187.1684. 3,446,689 shares of the stock traded hands. The stock has a market cap of $80.81 billion, a PE ratio of 227.6988 and a beta of 1.05. Netflix has a 12 month low of $93.26 and a 12 month high of $191.50. The firm’s 50-day moving average price is $175.28 and its 200-day moving average price is $160.06.
Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.01). The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. Netflix’s quarterly revenue was up 32.3% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. Analysts anticipate that Netflix will post $1.17 EPS for the current year.
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In other Netflix news, Director Richard N. Barton sold 2,000 shares of the stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $154.31, for a total transaction of $308,620.00. Following the completion of the transaction, the director now owns 8,012 shares of the company’s stock, valued at $1,236,331.72. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Reed Hastings sold 109,214 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $188.61, for a total transaction of $20,598,852.54. Following the transaction, the chief executive officer now directly owns 109,214 shares of the company’s stock, valued at approximately $20,598,852.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 311,325 shares of company stock valued at $55,912,478. 4.90% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Almanack Investment Partners LLC. purchased a new position in shares of Netflix in the second quarter valued at approximately $101,000. TD Capital Management LLC purchased a new position in shares of Netflix in the second quarter valued at approximately $105,000. Appropriate Balance Financial Services Inc. boosted its stake in shares of Netflix by 5.6% in the second quarter. Appropriate Balance Financial Services Inc. now owns 702 shares of the Internet television network’s stock valued at $4,701,000 after purchasing an additional 37 shares during the period. SRS Capital Advisors Inc. boosted its stake 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 purchasing an additional 706 shares during the period. Finally, Harfst & Associates Inc. purchased a new position in shares of Netflix in the first quarter valued at approximately $109,000. 81.03% 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.
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