Netflix, Inc. (NFLX) Receives Outperform Rating from Wells Fargo & Company
NFLX has been the topic of a number of other reports. Morgan Stanley set a $210.00 target price on shares of Netflix and gave the stock a buy rating in a research report on Tuesday, July 18th. Vetr downgraded shares of Netflix from a hold rating to a sell rating and set a $165.09 target price on the stock. in a research report on Wednesday, August 30th. Sanford C. Bernstein reaffirmed an outperform rating and issued a $203.00 target price (up from $178.00) on shares of Netflix in a research report on Tuesday, July 18th. Rosenblatt Securities raised shares of Netflix from a neutral rating to a buy rating and upped their target price for the stock from $155.00 to $200.00 in a research report on Tuesday, July 18th. Finally, BidaskClub raised shares of Netflix from a hold rating to a buy rating in a research report on Sunday, July 16th. Two investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and thirty-one have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $185.18.
Shares of Netflix (NFLX) traded up 1.87% on Friday, reaching $198.02. 15,348,356 shares of the company traded hands. Netflix has a one year low of $97.63 and a one year high of $198.92. The stock’s 50 day moving average price is $178.79 and its 200-day moving average price is $163.66. The stock has a market capitalization of $85.49 billion, a P/E ratio of 240.90 and a beta of 1.09. Netflix also was the target of some unusual options trading activity on Thursday. Stock investors purchased 122,784 call options on the company. This is an increase of 283% compared to the average volume of 32,078 call options.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.01). The company had revenue of $2.79 billion for 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%. The firm’s revenue for the quarter was up 32.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.09 earnings per share. Equities analysts forecast that Netflix will post $1.17 earnings per share for the current fiscal year.
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In other news, insider Jonathan Friedland sold 2,496 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $182.17, for a total transaction of $454,696.32. Following the transaction, the insider now owns 1,232 shares in the company, valued at $224,433.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard N. Barton sold 2,000 shares of the firm’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $169.18, for a total value of $338,360.00. Following the transaction, the director now owns 8,012 shares in the company, valued at approximately $1,355,470.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 316,067 shares of company stock worth $56,923,386. Insiders own 4.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in NFLX. Almanack Investment Partners LLC. purchased a new position in shares of Netflix during the second quarter valued at $101,000. TD Capital Management LLC purchased a new position in shares of Netflix during the second quarter valued at $105,000. SRS Capital Advisors Inc. increased its stake in shares of Netflix by 3,361.9% during 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. purchased a new position in shares of Netflix during the first quarter valued at $109,000. Finally, Aviance Capital Management LLC purchased a new position in shares of Netflix during the second quarter valued at $137,000. Hedge funds and other institutional investors own 81.03% of the company’s stock.
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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