Netflix, Inc. (NFLX) Rating Reiterated by Piper Jaffray Companies
Netflix, Inc. (NASDAQ:NFLX)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Jaffray Companies in a report released on Wednesday. They presently have a $215.00 price objective on the Internet television network’s stock. Piper Jaffray Companies’ price target points to a potential upside of 16.56% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the company. Cantor Fitzgerald upped their price target on Netflix from $165.00 to $190.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 6th. Vetr upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $168.81 price objective on the stock in a research report on Monday, June 12th. Canaccord Genuity lifted their price objective on shares of Netflix from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, June 16th. Royal Bank Of Canada reissued an “outperform” rating and issued a $175.00 price objective on shares of Netflix in a research note on Friday, June 16th. Finally, BidaskClub cut shares of Netflix from a “buy” rating to a “hold” rating in a research note on Saturday, June 17th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $180.91.
Netflix (NASDAQ NFLX) traded up 2.94% on Wednesday, reaching $184.45. 9,176,629 shares of the company were exchanged. Netflix has a 52 week low of $97.63 and a 52 week high of $191.50. The stock has a market capitalization of $79.64 billion, a price-to-earnings ratio of 224.39 and a beta of 1.09. The stock has a 50-day moving average price of $176.72 and a 200 day moving average price of $162.91.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.01). Netflix had a return on equity of 12.82% and a net margin of 3.55%. The company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. During the same period in the previous year, the business posted $0.09 earnings per share. The firm’s revenue was up 32.3% compared to the same quarter last year. Analysts forecast that Netflix will post $1.17 earnings per share for the current year.
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In related news, CEO Reed Hastings sold 109,214 shares of Netflix stock in a transaction on Monday, July 24th. The stock was sold at an average price of $188.61, for a total value of $20,598,852.54. Following the transaction, the chief executive officer now directly owns 109,214 shares in the company, valued at approximately $20,598,852.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gregory K. Peters sold 12,768 shares of Netflix stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $177.38, for a total value of $2,264,787.84. Following the completion of the transaction, the insider now owns 19,208 shares in the company, valued at $3,407,115.04. The disclosure for this sale can be found here. Insiders sold a total of 310,325 shares of company stock worth $55,807,018 in the last ninety days. Corporate insiders own 4.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Almanack Investment Partners LLC. purchased a new position in Netflix in the 2nd quarter worth about $101,000. TD Capital Management LLC acquired a new stake in Netflix during the 2nd quarter worth about $105,000. SRS Capital Advisors Inc. raised its holdings in Netflix by 3,361.9% during the 1st 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 during the period. Harfst & Associates Inc. acquired a new stake in Netflix during the 1st quarter worth about $109,000. Finally, Aviance Capital Management LLC acquired a new stake in Netflix during the 2nd quarter worth about $137,000. Institutional investors and hedge funds own 81.03% of the company’s stock.
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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