MKM Partners Reaffirms “Buy” Rating for Netflix, Inc. (NASDAQ:NFLX)
Netflix, Inc. (NASDAQ:NFLX)‘s stock had its “buy” rating reaffirmed by equities research analysts at MKM Partners in a research report issued to clients and investors on Monday, July 10th. They presently have a $195.00 target price on the Internet television network’s stock. MKM Partners’ price target would suggest a potential upside of 9.33% from the stock’s current price.
A number of other research firms have also commented on NFLX. Cantor Fitzgerald lifted their price target on shares of Netflix from $165.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, June 6th. Sanford C. Bernstein reissued a “buy” rating and issued a $178.00 price target on shares of Netflix in a research report on Wednesday, May 31st. William Blair reissued an “outperform” rating on shares of Netflix in a research report on Thursday, May 25th. Vetr lowered shares of Netflix from a “buy” rating to a “hold” rating and set a $166.13 price target on the stock. in a research report on Thursday, May 25th. Finally, Instinet reissued a “buy” rating on shares of Netflix in a research report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-nine have assigned a buy rating to the company. Netflix has an average rating of “Buy” and a consensus target price of $174.74.
Shares of Netflix (NASDAQ:NFLX) opened at 178.36 on Monday. The firm has a market cap of $77.01 billion, a P/E ratio of 216.98 and a beta of 1.02. The stock’s 50 day moving average is $165.67 and its 200-day moving average is $152.34. Netflix has a one year low of $92.95 and a one year high of $191.50.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the prior year, the business earned $0.09 EPS. The company’s revenue for the quarter was up 32.3% compared to the same quarter last year. Analysts anticipate that Netflix will post $1.17 EPS for the current fiscal year.
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In other news, insider Gregory K. Peters sold 6,853 shares of Netflix stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $164.29, for a total transaction of $1,125,879.37. Following the sale, the insider now directly owns 19,943 shares of the company’s stock, valued at $3,276,435.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 1,000 shares of Netflix stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $187.79, for a total value of $187,790.00. Following the sale, the director now directly owns 7,198 shares in the company, valued at $1,351,712.42. The disclosure for this sale can be found here. Insiders have sold 388,801 shares of company stock worth $64,673,171 over the last three months. Insiders own 4.90% of the company’s stock.
Several hedge funds have recently made changes to their positions in the stock. Jennison Associates LLC raised its stake in shares of Netflix by 21.4% in the first quarter. Jennison Associates LLC now owns 12,947,211 shares of the Internet television network’s stock worth $1,913,727,000 after buying an additional 2,279,835 shares during the last quarter. FMR LLC raised its position in Netflix by 6.6% in the first quarter. FMR LLC now owns 21,027,506 shares of the Internet television network’s stock worth $3,108,076,000 after buying an additional 1,305,294 shares in the last quarter. Vanguard Group Inc. raised its position in Netflix by 3.5% in the first quarter. Vanguard Group Inc. now owns 27,161,082 shares of the Internet television network’s stock worth $4,014,680,000 after buying an additional 921,283 shares in the last quarter. Tybourne Capital Management HK Ltd. raised its position in Netflix by 34.3% in the first quarter. Tybourne Capital Management HK Ltd. now owns 2,316,195 shares of the Internet television network’s stock worth $342,357,000 after buying an additional 590,966 shares in the last quarter. Finally, Morgan Stanley raised its position in Netflix by 22.9% in the first quarter. Morgan Stanley now owns 3,061,631 shares of the Internet television network’s stock worth $452,541,000 after buying an additional 571,126 shares in the last quarter. 82.78% of the stock is currently owned by hedge funds and other institutional investors.
Netflix Company Profile
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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