Netflix Inc. (NFLX) Given “Neutral” Rating at Dougherty & Co
Several other research firms have also weighed in on NFLX. JPMorgan Chase & Co. reiterated an overweight rating and set a $116.00 target price (down from $125.00) on shares of Netflix in a report on Tuesday, July 19th. MKM Partners cut their price target on Netflix from $145.00 to $130.00 and set a buy rating on the stock in a report on Wednesday, July 20th. Vetr upgraded Netflix from a hold rating to a buy rating and set a $103.71 price target on the stock in a report on Thursday, September 8th. BMO Capital Markets restated a market perform rating and issued a $85.00 price target on shares of Netflix in a report on Thursday, July 28th. Finally, Jefferies Group restated an underperform rating and issued a $76.00 price target on shares of Netflix in a report on Friday, September 23rd. Seven research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. Netflix currently has an average rating of Hold and an average target price of $115.89.
Shares of Netflix (NASDAQ:NFLX) traded up 19.1655% during mid-day trading on Monday, reaching $118.9272. The company had a trading volume of 22,584,535 shares. The firm’s 50-day moving average is $98.99 and its 200 day moving average is $96.28. Netflix has a 12 month low of $79.95 and a 12 month high of $133.27. The company has a market capitalization of $50.99 billion, a price-to-earnings ratio of 371.6475 and a beta of 1.14.
Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.06. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The company’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.07 earnings per share. On average, equities research analysts predict that Netflix will post $0.28 earnings per share for the current year.
In other news, CEO Reed Hastings sold 116,431 shares of the company’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 transaction, the chief executive officer now owns 116,431 shares in the company, valued at $10,081,760.29. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jay C. Hoag bought 600,000 shares of the company’s stock in a transaction dated Monday, July 25th. The stock was purchased at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The disclosure for this purchase can be found here. Corporate insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of NFLX. Cornerstone Advisors Inc. increased its position in shares of Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock valued at $102,000 after buying an additional 228 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Netflix during the second quarter valued at about $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. Hedge funds and other institutional investors own 78.41% 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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