Netflix Inc. (NFLX) Earns “Neutral” Rating from SunTrust Banks Inc.
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “neutral” rating reissued by stock analysts at SunTrust Banks Inc. in a research note issued to investors on Wednesday. They currently have a $100.00 target price on the Internet television network’s stock. SunTrust Banks Inc.’s target price points to a potential downside of 2.28% from the stock’s previous close.
A number of other analysts also recently commented on the company. Loop Capital began coverage on Netflix in a report on Tuesday. They set a “buy” rating and a $125.00 price objective for the company. Robert W. Baird restated a “neutral” rating and set a $94.00 price objective on shares of Netflix in a report on Tuesday. Zacks Investment Research downgraded Netflix from a “buy” rating to a “hold” rating in a report on Tuesday. Vetr downgraded Netflix from a “buy” rating to a “hold” rating and set a $105.94 price objective for the company. in a report on Monday. Finally, Wedbush restated an “underperform” rating and set a $45.00 price objective on shares of Netflix in a report on Friday, September 30th. Seven analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-seven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $110.97.
Netflix (NASDAQ:NFLX) traded up 3.83% during mid-day trading on Wednesday, reaching $106.26. The company’s stock had a trading volume of 8,926,025 shares. The stock’s 50 day moving average price is $97.38 and its 200 day moving average price is $96.17. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The stock has a market capitalization of $45.56 billion, a P/E ratio of 332.06 and a beta of 1.14.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.07. The company earned $2.11 billion during the quarter, compared to the consensus estimate of $2.11 billion. Netflix had a return on equity of 5.59% and a net margin of 1.85%. Netflix’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 EPS. Analysts expect that Netflix will post $0.29 EPS for the current fiscal year.
In other Netflix news, Director Jay C. Hoag purchased 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was acquired at an average cost of $94.31 per share, with a total value of $28,293,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jay C. Hoag purchased 600,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were acquired at an average cost of $86.43 per share, with a total value of $51,858,000.00. The disclosure for this purchase can be found here. 4.90% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Cornerstone Advisors Inc. increased its stake in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock worth $102,000 after buying an additional 228 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in Netflix during the second quarter worth $124,000. Quadrant Capital Group LLC increased its stake in Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock worth $126,000 after buying an additional 194 shares during the period. Coconut Grove Bank increased its stake in Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock worth $140,000 after buying an additional 26 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock worth $155,000 after buying an additional 224 shares during the period. 78.43% of the stock is owned by institutional investors and hedge funds.
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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