Netflix Inc. (NFLX) Now Covered by Analysts at Loop Capital
Loop Capital assumed coverage on shares of Netflix Inc. (NASDAQ:NFLX) in a report published on Tuesday. The brokerage issued a buy rating and a $125.00 price target on the Internet television network’s stock.
Several other equities analysts have also issued reports on NFLX. JPMorgan Chase & Co. reaffirmed an overweight rating and set a $116.00 price objective (down previously from $125.00) on shares of Netflix in a report on Tuesday, July 19th. MKM Partners dropped their price objective on Netflix from $145.00 to $130.00 and set a buy rating on the stock in a report on Wednesday, July 20th. Vetr raised Netflix from a hold rating to a buy rating and set a $103.71 price objective on the stock in a report on Thursday, September 8th. BMO Capital Markets reaffirmed a market perform rating and set a $85.00 price objective on shares of Netflix in a report on Thursday, July 28th. Finally, Jefferies Group reaffirmed an underperform rating and set a $76.00 price objective on shares of Netflix in a report on Friday, September 23rd. Seven equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-seven have given a buy rating to the company. The company currently has an average rating of Hold and an average target price of $110.97.
Netflix (NASDAQ:NFLX) traded up 2.27% during trading on Tuesday, reaching $104.66. The company had a trading volume of 2,834,801 shares. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The firm has a 50-day moving average of $97.38 and a 200-day moving average of $96.17. The stock has a market capitalization of $44.87 billion, a price-to-earnings ratio of 327.06 and a beta of 1.14.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, beating the Zacks’ 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 company 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 earnings per share. Netflix’s quarterly revenue was up 19.5% on a year-over-year basis. On average, analysts anticipate that Netflix will post $0.29 EPS for the current fiscal year.
In other news, Director Jay C. Hoag bought 600,000 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was purchased at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard N. Barton sold 1,400 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $100.00, for a total transaction of $140,000.00. Following the completion of the transaction, the director now owns 16,262 shares of the company’s stock, valued at approximately $1,626,200. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Advisors Inc. boosted its position in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock valued at $102,000 after buying an additional 228 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in Netflix during the second quarter valued at about $124,000. Quadrant Capital Group LLC boosted its position 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 valued at $126,000 after buying an additional 194 shares during the period. Coconut Grove Bank boosted its position in Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock valued at $140,000 after buying an additional 26 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position 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 valued at $155,000 after buying an additional 224 shares during the period. Hedge funds and other institutional investors own 78.43% of the company’s stock.
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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