Netflix Inc. (NFLX) Rating Increased to Buy at Vetr Inc.
Netflix Inc. (NASDAQ:NFLX) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $106.17 price objective on the Internet television network’s stock. Vetr‘s price target suggests a potential upside of 5.58% from the company’s previous close.
A number of other brokerages also recently weighed in on NFLX. FBR & Co reiterated a “market perform” rating and set a $90.00 price target on shares of Netflix in a report on Wednesday, October 5th. Deutsche Bank AG began coverage on Netflix in a report on Monday. They set a “sell” rating and a $90.00 price target on the stock. They noted that the move was a valuation call. Raymond James Financial Inc. set a $120.00 price target on Netflix and gave the company a “buy” rating in a report on Monday. Robert W. Baird reiterated a “neutral” rating and set a $94.00 price target on shares of Netflix in a report on Tuesday, October 4th. Finally, Zacks Investment Research downgraded Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, October 4th. Eight equities research 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 company’s stock. Netflix currently has a consensus rating of “Hold” and a consensus target price of $110.32.
Netflix (NASDAQ:NFLX) traded down 2.65% during trading on Tuesday, hitting $100.59. The stock had a trading volume of 9,032,854 shares. The firm’s 50 day moving average is $98.56 and its 200 day moving average is $96.35. The firm has a market cap of $43.13 billion, a price-to-earnings ratio of 314.34 and a beta of 1.14. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27.
Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.11 billion. Netflix had a return on equity of 5.59% and a net margin of 1.85%. Netflix’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.06 earnings per share. On average, analysts anticipate that Netflix will post $0.28 earnings per share for the current year.
In other Netflix news, Director Jay C. Hoag purchased 600,000 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was bought at an average cost of $86.43 per share, for a total transaction of $51,858,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard N. Barton sold 1,400 shares of Netflix stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $93.58, for a total transaction of $131,012.00. Following the completion of the sale, the director now owns 15,562 shares of the company’s stock, valued at $1,456,291.96. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. 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 last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Netflix during the second quarter valued at approximately $124,000. Quadrant Capital Group LLC increased its position in shares of 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 in the last quarter. Coconut Grove Bank increased its position in shares of 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 in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of 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 in the last quarter. 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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