Piper Jaffray Companies Reiterates “Buy” Rating for Netflix (NFLX)
Piper Jaffray Companies reissued their buy rating on shares of Netflix (NASDAQ:NFLX) in a research note published on Monday morning. Piper Jaffray Companies currently has a $240.00 price target on the Internet television network’s stock.
A number of other research analysts have also recently issued reports on the company. Wells Fargo & Co reaffirmed an outperform rating and issued a $250.00 price target (up from $230.00) on shares of Netflix in a report on Monday. Credit Suisse Group set a $224.00 price target on Netflix and gave the company a neutral rating in a report on Monday. Vetr raised Netflix from a hold rating to a buy rating and set a $213.88 price target for the company in a report on Thursday, January 4th. Loop Capital lifted their price target on Netflix from $237.00 to $241.00 and gave the company a buy rating in a report on Tuesday, January 2nd. Finally, Macquarie raised Netflix from a neutral rating to an outperform rating and lifted their price target for the company from $200.00 to $220.00 in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirty-five have assigned a buy rating to the company. Netflix presently has a consensus rating of Buy and an average price target of $210.81.
Shares of Netflix (NASDAQ:NFLX) traded down $2.74 during midday trading on Monday, hitting $209.31. The company’s stock had a trading volume of 6,110,000 shares, compared to its average volume of 6,220,000. The company has a market capitalization of $90,570.00, a PE ratio of 211.42, a PEG ratio of 3.41 and a beta of 1.34. Netflix has a 12 month low of $128.50 and a 12 month high of $212.98. The company has a debt-to-equity ratio of 1.47, a quick ratio of 1.20 and a current ratio of 1.20.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, October 16th. The Internet television network reported $0.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03). The company had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $2.97 billion. Netflix had a net margin of 4.04% and a return on equity of 14.56%. The firm’s revenue was up 30.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.12 earnings per share. equities analysts forecast that Netflix will post 1.26 EPS for the current year.
In other Netflix news, CEO Reed Hastings sold 91,861 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $189.03, for a total value of $17,364,484.83. Following the transaction, the chief executive officer now directly owns 91,861 shares of the company’s stock, valued at approximately $17,364,484.83. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Leslie J. Kilgore sold 847 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $207.00, for a total value of $175,329.00. Following the completion of the transaction, the director now directly owns 36,043 shares in the company, valued at $7,460,901. The disclosure for this sale can be found here. Insiders have sold a total of 338,227 shares of company stock worth $65,627,992 over the last three months. 4.90% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC acquired a new stake in shares of Netflix during the 2nd quarter worth $1,045,000. Lincoln National Corp lifted its position in shares of Netflix by 7.0% during the 3rd quarter. Lincoln National Corp now owns 4,094 shares of the Internet television network’s stock worth $742,000 after buying an additional 268 shares during the last quarter. BB&T Corp lifted its position in shares of Netflix by 20.0% during the 3rd quarter. BB&T Corp now owns 3,857 shares of the Internet television network’s stock worth $700,000 after buying an additional 642 shares during the last quarter. Mizuho Securities USA LLC bought a new stake in shares of Netflix during the 3rd quarter worth $9,793,000. Finally, AGF Investments Inc. bought a new stake in shares of Netflix during the 3rd quarter worth $60,036,000. 83.27% of the stock is currently owned by 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.
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