Netflix, Inc. (NFLX) Receives “Buy” Rating from UBS AG
UBS AG reiterated their buy rating on shares of Netflix, Inc. (NASDAQ:NFLX) in a research note released on Wednesday. They currently have a $225.00 price objective on the Internet television network’s stock, up from their prior price objective of $190.00.
A number of other research analysts have also weighed in on NFLX. Jefferies Group LLC reiterated a hold rating and issued a $165.00 price objective (down from $171.80) on shares of Netflix in a research note on Wednesday, August 9th. Wedbush reiterated a sell rating on shares of Netflix in a research note on Wednesday, August 9th. J P Morgan Chase & Co reiterated a buy rating on shares of Netflix in a research note on Wednesday, August 9th. BidaskClub lowered shares of Netflix from a buy rating to a hold rating in a research note on Saturday, August 12th. Finally, Piper Jaffray Companies reiterated an overweight rating and issued a $215.00 price objective on shares of Netflix in a research note on Monday, August 14th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twenty-nine have given a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $181.03.
Shares of Netflix (NASDAQ:NFLX) traded up 5.39% during midday trading on Wednesday, hitting $194.39. The company had a trading volume of 19,384,082 shares. The company’s 50-day moving average price is $177.18 and its 200 day moving average price is $163.06. The company has a market capitalization of $83.93 billion, a price-to-earnings ratio of 236.48 and a beta of 1.09. Netflix has a 12-month low of $97.63 and a 12-month high of $194.49.
Netflix (NASDAQ:NFLX) last released 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 net margin of 3.55% and a return on equity of 12.82%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the prior year, the firm posted $0.09 earnings per share. The firm’s quarterly revenue was up 32.3% on a year-over-year basis. Equities research analysts predict that Netflix will post $1.17 earnings per share for the current fiscal year.
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In related news, CEO Reed Hastings sold 109,214 shares of the stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $188.61, for a total transaction of $20,598,852.54. Following the transaction, the chief executive officer now owns 109,214 shares in the company, valued at $20,598,852.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jonathan Friedland sold 2,496 shares of the company’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $182.17, for a total transaction of $454,696.32. Following the sale, the insider now directly owns 1,232 shares of the company’s stock, valued at $224,433.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 310,325 shares of company stock worth $55,807,018. 4.90% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in NFLX. Almanack Investment Partners LLC. purchased a new stake in Netflix during the second quarter valued at approximately $101,000. TD Capital Management LLC purchased a new stake in Netflix during the second quarter valued at approximately $105,000. SRS Capital Advisors Inc. increased its holdings in Netflix by 3,361.9% during the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock valued at $107,000 after buying an additional 706 shares during the last quarter. Harfst & Associates Inc. purchased a new stake in Netflix during the first quarter valued at approximately $109,000. Finally, Aviance Capital Management LLC purchased a new stake in Netflix during the second quarter valued at approximately $137,000. 81.03% of the stock is owned by institutional investors and hedge funds.
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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