Cowen and Company restated their outperform rating on shares of Netflix Inc. (NASDAQ:NFLX) in a research report released on Wednesday morning. They currently have a $110.00 target price on the Internet television network’s stock.
A number of other research firms have also recently commented on NFLX. FBR & Co reissued a market perform rating and set a $90.00 target price on shares of Netflix in a research note on Wednesday, October 5th. Deutsche Bank AG began coverage on shares of Netflix in a research note on Monday. They set a sell rating and a $90.00 target price for the company. They noted that the move was a valuation call. Raymond James Financial Inc. set a $120.00 target price on shares of Netflix and gave the stock a buy rating in a research note on Monday. Vetr cut shares of Netflix from a buy rating to a hold rating and set a $105.94 target price for the company. in a research note on Monday, October 3rd. Finally, Robert W. Baird reissued a neutral rating and set a $94.00 target price on shares of Netflix in a research note on Tuesday, October 4th. Eight equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-eight have assigned a buy rating to the stock. Netflix currently has a consensus rating of Hold and a consensus target price of $110.32.
Netflix (NASDAQ:NFLX) traded down 1.19% on Wednesday, hitting $98.32. The stock had a trading volume of 1,870,520 shares. The company’s 50 day moving average price is $98.66 and its 200 day moving average price is $96.37. The firm has a market cap of $42.15 billion, a price-to-earnings ratio of 307.25 and a beta of 1.14. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27.
Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.07. Netflix had a net margin of 1.85% and a return on equity of 5.59%. The company earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.11 billion. During the same quarter in the previous year, the company earned $0.06 earnings per share. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. Analysts expect that Netflix will post $0.28 EPS for the current year.
In other Netflix news, Director Jay C. Hoag bought 600,000 shares of the firm’s stock in a transaction that occurred on Monday, July 25th. The shares were acquired at an average cost of $86.43 per share, with a total value of $51,858,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard N. Barton sold 2,800 shares of the business’s stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $104.27, for a total value of $291,956.00. Following the transaction, the director now directly owns 15,254 shares in the company, valued at $1,590,534.58. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cornerstone Advisors Inc. increased its stake in Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock valued at $102,000 after buying an additional 228 shares during the period. Signature Estate & Investment Advisors LLC purchased a new stake in Netflix during the second quarter valued at about $124,000. Quadrant Capital Group LLC increased its stake in Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock valued at $126,000 after buying an additional 194 shares during the period. Coconut Grove Bank increased its stake in Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock valued at $140,000 after buying an additional 26 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. increased its stake in Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock valued at $155,000 after buying an additional 224 shares during the period. 78.43% of the stock is currently owned by institutional investors and hedge funds.
Netflix Company Profile