Netflix Inc. (NFLX) Receives “Outperform” Rating from Cowen and Company
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “outperform” rating reiterated by research analysts at Cowen and Company in a research note issued to investors on Wednesday. They presently have a $110.00 price objective on the Internet television network’s stock. Cowen and Company’s price objective would suggest a potential upside of 10.60% from the stock’s previous close.
Several other brokerages have also commented on NFLX. FBR & Co reissued a “market perform” rating and set a $90.00 price target on shares of Netflix in a research note on Wednesday, October 5th. Deutsche Bank AG initiated coverage on Netflix in a research note on Monday. They issued a “sell” rating and a $90.00 target price on the stock. They noted that the move was a valuation call. Raymond James Financial Inc. set a $120.00 target price on Netflix and gave the company a “buy” rating in a research note on Monday. Vetr lowered Netflix from a “buy” rating to a “hold” rating and set a $105.94 target price on the stock. in a research note on Monday, October 3rd. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $94.00 target price on shares of Netflix in a research note 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 given a buy rating to the company. Netflix has a consensus rating of “Hold” and a consensus target price of $110.32.
Netflix (NASDAQ:NFLX) traded down 1.08% during trading on Wednesday, reaching $99.50. The company had a trading volume of 7,417,992 shares. The company’s 50-day moving average is $98.56 and its 200 day moving average is $96.35. The firm has a market capitalization of $42.66 billion, a price-to-earnings ratio of 310.94 and a beta of 1.14. Netflix has a 52 week low of $79.95 and a 52 week high of $133.27.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.07. The business 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%. The company’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.06 EPS. Equities analysts anticipate that Netflix will post $0.28 EPS for the current year.
In other Netflix news, Director Richard N. Barton sold 1,400 shares of the business’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $100.00, for a total value of $140,000.00. Following the transaction, the director now directly owns 16,262 shares in the company, valued at $1,626,200. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Richard N. Barton sold 2,800 shares of the business’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $104.27, for a total transaction of $291,956.00. Following the completion of the transaction, the director now owns 15,254 shares in the company, valued at $1,590,534.58. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Cornerstone Advisors Inc. raised 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 worth $102,000 after buying an additional 228 shares during the period. Signature Estate & Investment Advisors LLC bought a new position in shares of Netflix during the second quarter worth about $124,000. Quadrant Capital Group LLC raised 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 worth $126,000 after buying an additional 194 shares during the last quarter. Coconut Grove Bank raised 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 worth $140,000 after buying an additional 26 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. raised 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 worth $155,000 after buying an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 78.43% of the company’s stock.
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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