Robert W. Baird Reaffirms Neutral Rating for Netflix Inc. (NFLX)
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “neutral” rating reaffirmed by Robert W. Baird in a research note issued to investors on Tuesday. They currently have a $94.00 price objective on the Internet television network’s stock. Robert W. Baird’s price objective indicates a potential downside of 8.41% from the stock’s current price.
Several other analysts have also recently commented on the company. Zacks Investment Research cut Netflix from a “buy” rating to a “hold” rating in a research report on Tuesday. Vetr cut Netflix from a “buy” rating to a “hold” rating and set a $105.94 target price on the stock. in a research report on Monday. Wedbush reiterated an “underperform” rating and set a $45.00 price target on shares of Netflix in a research report on Friday. JPMorgan Chase & Co. lifted their price target on Netflix from $116.00 to $125.00 and gave the company an “overweight” rating in a research report on Tuesday, September 27th. Finally, Jefferies Group reiterated an “underperform” rating and set a $76.00 price target on shares of Netflix in a research report on Friday, September 23rd. Seven research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-six have issued a buy rating to the stock. Netflix currently has a consensus rating of “Hold” and an average price target of $110.66.
Netflix (NASDAQ:NFLX) traded down 0.29% during trading on Tuesday, reaching $102.33. The company had a trading volume of 11,947,299 shares. The stock has a market cap of $43.87 billion, a PE ratio of 319.78 and a beta of 1.14. The company has a 50-day moving average price of $97.18 and a 200 day moving average price of $96.16. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, July 18th. The Internet television network reported $0.09 EPS for the quarter, beating the consensus estimate of $0.02 by $0.07. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period last year, the firm earned $0.06 EPS. The firm’s revenue was up 19.5% compared to the same quarter last year. On average, analysts anticipate that Netflix will post $0.29 earnings per share for the current year.
In other Netflix news, Director Jay C. Hoag bought 600,000 shares of the stock in a transaction dated Monday, July 25th. The shares were bought at an average cost of $86.43 per share, with a total value of $51,858,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 700 shares of the firm’s stock in a transaction that occurred on Wednesday, July 6th. The stock was sold at an average price of $95.03, for a total transaction of $66,521.00. Following the transaction, the director now directly owns 15,562 shares in the company, valued at $1,478,856.86. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Adage Capital Partners GP L.L.C. boosted its position in shares of Netflix by 69.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 645,960 shares of the Internet television network’s stock valued at $66,036,000 after buying an additional 265,678 shares in the last quarter. Scopia Capital Management LP raised its stake in Netflix by 55.2% in the first quarter. Scopia Capital Management LP now owns 1,846,398 shares of the Internet television network’s stock valued at $188,757,000 after buying an additional 656,585 shares in the last quarter. Natixis purchased a new stake in Netflix during the first quarter valued at about $47,023,000. Private Capital Management Inc. purchased a new stake in Netflix during the second quarter valued at about $631,000. Finally, Allen Investment Management LLC raised its stake in Netflix by 2.6% in the first quarter. Allen Investment Management LLC now owns 30,941 shares of the Internet television network’s stock valued at $3,163,000 after buying an additional 778 shares in the last quarter. 78.43% of the stock is currently owned by institutional investors.
Netflix Company Profile
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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