Vetr Inc. Downgrades Netflix, Inc. (NFLX) to Strong Sell
Netflix, Inc. (NASDAQ:NFLX) was downgraded by analysts at Vetr from a “sell” rating to a “strong sell” rating in a research report issued on Monday. They currently have a $162.49 target price on the Internet television network’s stock. Vetr‘s price target suggests a potential downside of 11.99% from the stock’s previous close.
Several other research firms also recently commented on NFLX. MKM Partners boosted their target price on Netflix from $195.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, July 27th. BTIG Research boosted their target price on Netflix from $170.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Moffett Nathanson reissued a “neutral” rating on shares of Netflix in a report on Tuesday, July 18th. Zacks Investment Research downgraded Netflix from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $215.00 target price on shares of Netflix in a report on Monday. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have given a buy rating to the stock. Netflix has a consensus rating of “Buy” and a consensus price target of $178.64.
Netflix (NFLX) traded up 1.24% during midday trading on Monday, reaching $184.62. The company had a trading volume of 5,359,569 shares. Netflix has a 12-month low of $93.26 and a 12-month high of $191.50. The company has a 50-day moving average of $175.16 and a 200-day moving average of $159.72. The stock has a market capitalization of $79.71 billion, a PE ratio of 224.60 and a beta of 1.05.
Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the prior year, the firm earned $0.09 earnings per share. The company’s revenue for the quarter was up 32.3% compared to the same quarter last year. On average, analysts predict that Netflix will post $1.19 EPS for the current fiscal year.
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In other Netflix news, CEO Reed Hastings sold 115,577 shares of the firm’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $152.63, for a total transaction of $17,640,517.51. Following the transaction, the chief executive officer now directly owns 115,577 shares in the company, valued at approximately $17,640,517.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jonathan Friedland sold 2,496 shares of the firm’s stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $182.17, for a total value of $454,696.32. Following the transaction, the insider now owns 1,232 shares in the company, valued at $224,433.44. The disclosure for this sale can be found here. Insiders have sold a total of 349,435 shares of company stock worth $59,221,491 over the last 90 days. 4.90% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Intl Fcstone Inc. purchased a new position in Netflix during the 2nd quarter worth $278,000. Navellier & Associates Inc purchased a new position in Netflix during the 2nd quarter worth $492,000. USA Financial Portformulas Corp purchased a new position in Netflix during the 2nd quarter worth $6,229,000. Toronto Dominion Bank increased its holdings in Netflix by 25.7% during the 2nd quarter. Toronto Dominion Bank now owns 146,001 shares of the Internet television network’s stock worth $21,810,000 after purchasing an additional 29,867 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Netflix during the 2nd quarter worth $445,000. Institutional investors own 81.03% 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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