Netflix Inc. (NFLX) Price Target Lowered to $90.00 at FBR & Co
Netflix Inc. (NASDAQ:NFLX) had its target price lowered by FBR & Co from $100.00 to $90.00 in a research report sent to investors on Tuesday morning. The firm currently has a mkt perform rating on the Internet television network’s stock.
NFLX has been the subject of a number of other reports. Needham & Company LLC cut Netflix from a buy rating to a hold rating and boosted their price objective for the company from $95.15 to $96.67 in a research report on Tuesday, July 5th. Pivotal Research restated a buy rating and issued a $155.00 price objective (up from $125.00) on shares of Netflix in a research report on Tuesday. Bank of America Corp. restated a buy rating and issued a $146.00 price objective on shares of Netflix in a research report on Friday, August 26th. Jefferies Group restated an underperform rating and issued a $80.00 price objective (up from $76.00) on shares of Netflix in a research report on Tuesday. Finally, Wedbush boosted their price objective on Netflix from $45.00 to $50.00 and gave the company an underperform rating in a research report on Tuesday, July 19th. Eight equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twenty-eight have given a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $115.73.
Netflix (NASDAQ:NFLX) traded up 1.30% on Tuesday, hitting $120.34. The stock had a trading volume of 3,916,235 shares. The company has a market cap of $51.59 billion, a PE ratio of 376.06 and a beta of 1.14. The company has a 50-day moving average of $99.60 and a 200 day moving average of $96.38. Netflix has a 12 month low of $79.95 and a 12 month high of $133.27.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.06. Netflix had a return on equity of 6.45% and a net margin of 1.99%. The company earned $2.29 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the previous year, the company posted $0.07 earnings per share. Netflix’s revenue for the quarter was up 31.7% on a year-over-year basis. On average, analysts predict that Netflix will post $0.28 EPS for the current fiscal year.
In other Netflix news, Director Richard N. Barton sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $104.27, for a total value 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jay C. Hoag bought 600,000 shares of the business’s stock in a transaction on Monday, July 25th. The stock was purchased 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 company insiders.
A number of large investors have recently added to or reduced their stakes in NFLX. Cornerstone Advisors Inc. increased its stake 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 purchased a new stake in Netflix during the second quarter worth $124,000. Quadrant Capital Group LLC increased its stake in 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 period. Coconut Grove Bank increased its stake in 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 period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in 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 period. Hedge funds and other institutional investors own 78.41% of the company’s stock.
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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