FBR & Co Lowers Netflix Inc. (NFLX) Price Target to $90.00
Netflix Inc. (NASDAQ:NFLX) had its price objective cut by equities research analysts at FBR & Co from $100.00 to $90.00 in a report issued on Tuesday. The firm currently has a “mkt perform” rating on the Internet television network’s stock. FBR & Co’s target price would indicate a potential downside of 28.89% from the stock’s current price.
A number of other equities analysts have also recently weighed in on NFLX. Jefferies Group reissued an “underperform” rating and issued a $76.00 price objective (down from $80.00) on shares of Netflix in a research report on Sunday, July 17th. Wedbush reissued an “underperform” rating and issued a $50.00 price objective (up from $45.00) on shares of Netflix in a research report on Sunday, July 17th. SunTrust Banks Inc. reissued a “hold” rating on shares of Netflix in a research report on Sunday, July 17th. BTIG Research reissued a “buy” rating and issued a $130.00 price objective (down from $150.00) on shares of Netflix in a research report on Sunday, July 17th. Finally, Raymond James Financial Inc. set a $120.00 price objective on shares of Netflix and gave the company a “buy” rating in a research report on Sunday, October 16th. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $116.63.
Shares of Netflix (NASDAQ:NFLX) traded up 0.08% during midday trading on Tuesday, reaching $126.57. The company’s stock had a trading volume of 7,077,252 shares. The stock has a 50 day moving average of $105.67 and a 200-day moving average of $97.72. The company has a market capitalization of $54316.89 billion, a P/E ratio of 342.08 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 posted its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.06. The company earned $2.29 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Netflix had a net margin of 1.99% and a return on equity of 6.31%. The firm’s revenue for the quarter was up 31.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 EPS. On average, equities research analysts anticipate that Netflix will post $0.40 earnings per share for the current year.
In related news, CFO David B. Wells sold 500 shares of Netflix stock in a transaction on Wednesday, October 26th. The shares were sold at an average price of $126.29, for a total value of $63,145.00. Following the completion of the sale, the chief financial officer now owns 500 shares of the company’s stock, valued at approximately $63,145. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Richard N. Barton sold 700 shares of Netflix stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $93.87, for a total transaction of $65,709.00. Following the completion of the sale, the director now directly owns 15,562 shares of the company’s stock, valued at approximately $1,460,804.94. The disclosure for this sale can be found here. Company insiders own 4.90% of the company’s stock.
A number of hedge funds have recently bought and sold shares of NFLX. Adage Capital Partners GP L.L.C. increased its position in Netflix by 69.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 645,960 shares of the Internet television network’s stock worth $66,036,000 after buying an additional 265,678 shares in the last quarter. Scopia Capital Management LP increased its position in Netflix by 55.2% in the first quarter. Scopia Capital Management LP now owns 1,846,398 shares of the Internet television network’s stock worth $188,757,000 after buying an additional 656,585 shares in the last quarter. Natixis purchased a new position in Netflix during the first quarter worth about $47,023,000. Private Capital Management Inc. purchased a new position in Netflix during the second quarter worth about $631,000. Finally, Advisory Services Network LLC increased its position in Netflix by 15.0% in the second quarter. Advisory Services Network LLC now owns 5,415 shares of the Internet television network’s stock worth $495,000 after buying an additional 706 shares in the last quarter. 78.41% of the stock is owned by institutional investors and hedge funds.
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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