Needham & Company LLC Reiterates “Hold” Rating for Netflix Inc. (NFLX)
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “hold” rating reaffirmed by investment analysts at Needham & Company LLC in a report issued on Wednesday.
NFLX has been the topic of a number of other reports. Jefferies Group restated an “underperform” rating and issued a $76.00 price objective (down from $80.00) on shares of Netflix in a report on Sunday, July 17th. Wedbush restated an “underperform” rating and issued a $50.00 price objective (up from $45.00) on shares of Netflix in a report on Sunday, July 17th. SunTrust Banks Inc. restated a “hold” rating on shares of Netflix in a report on Sunday, July 17th. BTIG Research restated a “buy” rating and issued a $130.00 price objective (down from $150.00) on shares of Netflix in a report on Sunday, July 17th. Finally, FBR & Co restated a “market perform” rating and issued a $90.00 price objective on shares of Netflix in a report on Thursday, September 15th. Eight investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $110.32.
Netflix (NASDAQ:NFLX) traded down 0.11% during midday trading on Wednesday, reaching $100.48. The company had a trading volume of 3,588,809 shares. The firm has a market capitalization of $43.08 billion, a PE ratio of 314.00 and a beta of 1.14. The firm’s 50-day moving average price is $98.56 and its 200 day moving average price is $96.35. Netflix has a 12 month low of $79.95 and a 12 month high of $133.27.
Netflix (NASDAQ:NFLX) last released its earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, topping the Thomson Reuters’ 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 the consensus estimate of $2.11 billion. During the same period in the prior year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities analysts anticipate that Netflix will post $0.28 earnings per share for the current fiscal year.
In related news, Director Richard N. Barton sold 2,800 shares of the company’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $104.27, for a total value of $291,956.00. Following the completion of the sale, the director now owns 15,254 shares in the company, valued at approximately $1,590,534.58. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jay C. Hoag acquired 600,000 shares of the stock in a transaction that occurred on Monday, July 25th. The stock was purchased at an average price 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 corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. boosted 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 in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Netflix during the second quarter worth 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 worth $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 worth $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 worth $155,000 after buying an additional 224 shares during the period. Institutional investors and hedge funds 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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