Netflix Inc. (NFLX) Stock Rating Lowered by Vetr Inc.
Netflix Inc. (NASDAQ:NFLX) was downgraded by equities research analysts at Vetr from a “buy” rating to a “hold” rating in a report issued on Monday. They presently have a $105.11 target price on the Internet television network’s stock. Vetr‘s target price suggests a potential downside of 11.52% from the stock’s current price.
Other equities analysts also recently issued research reports about the stock. Pacific Crest reaffirmed a “buy” rating and set a $130.00 price target on shares of Netflix in a research note on Wednesday, June 22nd. Zacks Investment Research raised shares of Netflix from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research note on Tuesday, June 21st. Nomura reaffirmed a “buy” rating and set a $115.00 price target (down previously from $125.00) on shares of Netflix in a research note on Monday, June 20th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $140.00 price target on shares of Netflix in a research note on Thursday, June 23rd. Finally, Canaccord Genuity initiated coverage on shares of Netflix in a research note on Friday, July 1st. They set a “buy” rating and a $120.00 price target on the stock. Eight analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $115.73.
Netflix (NASDAQ:NFLX) opened at 118.79 on Monday. The firm has a market cap of $50.93 billion, a P/E ratio of 371.22 and a beta of 1.14. The company’s 50 day moving average is $99.60 and its 200-day moving average is $96.38. Netflix has a 52 week low of $79.95 and a 52 week high of $133.27.
Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, October 17th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.06. Netflix had a net margin of 1.99% and a return on equity of 6.45%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the business earned $0.07 earnings per share. Netflix’s revenue was up 31.7% compared to the same quarter last year. Equities analysts expect that Netflix will post $0.28 earnings per share for the current year.
In other news, Director Jay C. Hoag acquired 600,000 shares of Netflix stock in a transaction dated Monday, July 25th. The stock was acquired at an average cost of $86.43 per share, for a total transaction of $51,858,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Barton sold 700 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was 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 owns 15,562 shares of the company’s stock, valued at $1,460,804.94. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Cornerstone Advisors Inc. boosted its stake 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 worth $102,000 after buying an additional 228 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of Netflix during the second quarter worth $124,000. Quadrant Capital Group LLC boosted its stake 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 worth $126,000 after buying an additional 194 shares during the last quarter. Coconut Grove Bank boosted its stake 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 worth $140,000 after buying an additional 26 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake 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 worth $155,000 after buying an additional 224 shares during the last quarter. Institutional investors and hedge funds 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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