KeyCorp Reiterates Buy Rating for Netflix, Inc. (NFLX)
Netflix, Inc. (NASDAQ:NFLX)‘s stock had its “buy” rating restated by stock analysts at KeyCorp in a research note issued to investors on Friday. They presently have a $190.00 price target on the Internet television network’s stock. KeyCorp’s target price suggests a potential upside of 14.49% from the stock’s current price.
A number of other analysts also recently commented on NFLX. UBS AG reiterated a “buy” rating and issued a $175.00 price objective on shares of Netflix in a report on Monday, May 15th. Jefferies Group LLC reiterated a “hold” rating and issued a $165.00 price objective (down previously from $171.80) on shares of Netflix in a report on Wednesday, August 9th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Netflix in a report on Wednesday, August 9th. Wedbush reiterated a “sell” rating on shares of Netflix in a report on Wednesday, August 9th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $215.00 price objective on shares of Netflix in a report on Monday, August 14th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-seven have given a buy rating to the company. Netflix currently has a consensus rating of “Buy” and an average price target of $178.07.
Netflix (NASDAQ NFLX) opened at 165.95 on Friday. The company has a market capitalization of $71.65 billion, a price-to-earnings ratio of 201.89 and a beta of 1.02. The firm has a 50-day moving average price of $173.01 and a 200-day moving average price of $155.72. Netflix has a 52 week low of $93.26 and a 52 week high of $191.50.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The company’s quarterly revenue was up 32.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.09 earnings per share. Analysts anticipate that Netflix will post $1.19 EPS for the current fiscal year.
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In other news, insider Gregory K. Peters sold 6,853 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $164.29, for a total transaction of $1,125,879.37. Following the transaction, the insider now directly owns 19,943 shares in the company, valued at $3,276,435.47. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Richard N. Barton sold 2,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $163.47, for a total transaction of $326,940.00. Following the transaction, the director now owns 7,652 shares in the company, valued at $1,250,872.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 378,288 shares of company stock worth $63,908,370. Company insiders own 4.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Almanack Investment Partners LLC. bought a new stake in Netflix during the second quarter worth approximately $101,000. Clean Yield Group bought a new stake in Netflix during the first quarter worth approximately $103,000. TD Capital Management LLC bought a new stake in Netflix during the second quarter worth approximately $105,000. SRS Capital Advisors Inc. increased its stake in Netflix by 3,361.9% in the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock worth $107,000 after buying an additional 706 shares in the last quarter. Finally, Harfst & Associates Inc. bought a new stake in Netflix during the first quarter worth approximately $109,000. Institutional investors and hedge funds own 82.94% of the company’s stock.
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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