Netflix’s (NFLX) Underperform Rating Reaffirmed at Jefferies Group
Jefferies Group reaffirmed their underperform rating on shares of Netflix Inc. (NASDAQ:NFLX) in a research report report published on Wednesday morning. They currently have a $76.00 price objective on the Internet television network’s stock.
NFLX has been the subject of several other reports. Needham & Company LLC cut Netflix from a buy rating to a hold rating and increased their price objective for the company from $95.15 to $96.67 in a research report on Tuesday, July 5th. Bank of America Corp. reissued a buy rating and issued a $146.00 price objective on shares of Netflix in a research report on Friday, August 26th. Wedbush upped their target price on Netflix from $45.00 to $50.00 and gave the company an underperform rating in a research note on Tuesday, July 19th. Vetr lowered Netflix from a strong-buy rating to a buy rating and set a $102.41 target price for the company. in a research note on Wednesday, July 27th. Finally, Piper Jaffray Cos. restated an overweight rating and issued a $122.00 target price on shares of Netflix in a research note on Wednesday, September 7th. Eight investment 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. The company has a consensus rating of Hold and a consensus price target of $110.32.
Netflix (NASDAQ:NFLX) traded down 0.99% during mid-day trading on Wednesday, hitting $98.51. 2,730,784 shares of the stock were exchanged. Netflix has a one year low of $79.95 and a one year high of $133.27. The company has a market cap of $42.23 billion, a P/E ratio of 307.84 and a beta of 1.14. The company has a 50-day moving average price of $98.66 and a 200-day moving average price of $96.37.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.07. The firm had revenue of $2.11 billion for 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%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.06 EPS. Analysts forecast that Netflix will post $0.28 earnings per share for the current fiscal year.
In related news, CEO Reed Hastings sold 116,431 shares of the stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $86.59, for a total value of $10,081,760.29. Following the sale, the chief executive officer now directly owns 116,431 shares of the company’s stock, valued at approximately $10,081,760.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 2,800 shares of the stock in a transaction dated Thursday, October 6th. The stock was sold at an average price of $104.27, for a total transaction of $291,956.00. Following the completion of the sale, the director now directly 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 corporate insiders.
A number of hedge funds have recently bought and sold shares of NFLX. Winslow Capital Management LLC purchased a new stake in Netflix during the second quarter worth $209,447,000. Capital World Investors raised its position in shares of Netflix by 32.4% in the second quarter. Capital World Investors now owns 6,656,926 shares of the Internet television network’s stock worth $608,976,000 after buying an additional 1,630,881 shares during the period. Jericho Capital Asset Management L.P. bought a new position in shares of Netflix during the first quarter worth approximately $94,076,000. Capital Research Global Investors raised its position in shares of Netflix by 1.5% in the second quarter. Capital Research Global Investors now owns 49,967,802 shares of the Internet television network’s stock worth $4,571,055,000 after buying an additional 761,325 shares during the period. Finally, Criterion Capital Management LLC raised its position in shares of Netflix by 241.5% in the second quarter. Criterion Capital Management LLC now owns 991,469 shares of the Internet television network’s stock worth $90,700,000 after buying an additional 701,119 shares during the period. 78.43% of the stock is currently owned by institutional investors.
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.
Receive News & Stock Ratings for Netflix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix Inc. and related stocks with our FREE daily email newsletter.