Netflix Inc. (NFLX) Given a $45.00 Price Target by Wedbush Analysts
NFLX has been the topic of a number of other research reports. Needham & Company LLC lowered Netflix from a buy rating to a hold rating and upped their target price for the company from $95.15 to $96.67 in a research report on Tuesday, July 5th. Bank of America Corp. reiterated a buy rating and issued a $146.00 target price on shares of Netflix in a research report on Friday, August 26th. Vetr lowered Netflix from a strong-buy rating to a buy rating and set a $102.41 price objective on the stock. in a research report on Wednesday, July 27th. Piper Jaffray Cos. restated an overweight rating and issued a $122.00 price objective on shares of Netflix in a research report on Wednesday, September 7th. Finally, Zacks Investment Research upgraded Netflix from a hold rating to a buy rating and set a $105.00 price objective on the stock in a research report on Tuesday, June 21st. Eight investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-eight have assigned a buy rating to the company’s stock. Netflix currently has a consensus rating of Hold and a consensus target price of $110.32.
Shares of Netflix (NASDAQ:NFLX) traded up 0.59% during midday trading on Thursday, reaching $100.82. 4,394,824 shares of the company traded hands. The stock has a 50 day moving average price of $98.81 and a 200 day moving average price of $96.40. The firm has a market capitalization of $43.22 billion, a PE ratio of 315.06 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 issued its earnings results on Monday, July 18th. The Internet television network reported $0.09 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.07. The firm 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 earnings per share. Analysts expect 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 business’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 116,431 shares in the company, 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 Jay C. Hoag acquired 600,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The stock was bought 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 owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. National Pension Service boosted its position in Netflix by 8.7% in the third quarter. National Pension Service now owns 272,049 shares of the Internet television network’s stock valued at $26,810,000 after buying an additional 21,790 shares during the period. Highland Capital Management LLC boosted its position in Netflix by 218.5% in the third quarter. Highland Capital Management LLC now owns 10,350 shares of the Internet television network’s stock valued at $1,020,000 after buying an additional 7,100 shares during the period. Hollencrest Securities LLC bought a new position in Netflix during the third quarter valued at $618,000. Capstone Asset Management Co. boosted its position in Netflix by 3.3% in the third quarter. Capstone Asset Management Co. now owns 29,406 shares of the Internet television network’s stock valued at $2,898,000 after buying an additional 938 shares during the period. Finally, Grassi Investment Management bought a new position in Netflix during the third quarter valued at $207,000. 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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