Netflix’s (NFLX) Outperform Rating Reaffirmed at Royal Bank Of Canada
Royal Bank Of Canada reiterated their outperform rating on shares of Netflix, Inc. (NASDAQ:NFLX) in a research note published on Wednesday morning. They currently have a $210.00 target price on the Internet television network’s stock.
Several other equities research analysts also recently weighed in on the stock. Morgan Stanley set a $210.00 target price on shares of Netflix and gave the company a buy rating in a research note 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 note on Wednesday, August 30th. Sanford C. Bernstein reissued an outperform rating and issued a $203.00 target price (up previously from $178.00) on shares of Netflix in a research note on Tuesday, July 18th. Rosenblatt Securities raised shares of Netflix from a neutral rating to a buy rating and increased their target price for the company from $155.00 to $200.00 in a research note on Tuesday, July 18th. Finally, BidaskClub raised shares of Netflix from a hold rating to a buy rating in a research note on Sunday, July 16th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-eight have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $178.90.
Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the prior year, the company posted $0.09 EPS. The company’s revenue was up 32.3% compared to the same quarter last year.
In other Netflix news, Director Richard N. Barton sold 2,000 shares of Netflix stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $154.31, for a total transaction of $308,620.00. Following the sale, the director now owns 8,012 shares of the company’s stock, valued at approximately $1,236,331.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard N. Barton sold 1,000 shares of Netflix stock in a transaction on Tuesday, June 27th. The stock was sold at an average price of $156.62, for a total transaction of $156,620.00. Following the sale, the director now directly owns 8,012 shares in the company, valued at approximately $1,254,839.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 235,858 shares of company stock worth $41,949,573. 4.90% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Almanack Investment Partners LLC. acquired a new position in shares of Netflix during the 2nd quarter valued at about $101,000. TD Capital Management LLC acquired a new position in Netflix in the second quarter valued at about $105,000. Appropriate Balance Financial Services Inc. lifted its position in 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 buying an additional 37 shares during the last quarter. SRS Capital Advisors Inc. lifted its position in 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 buying an additional 706 shares during the last quarter. Finally, Harfst & Associates Inc. acquired a new position in Netflix in the first quarter valued at about $109,000. 81.03% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Netflix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.