The Netflix Inc. (NFLX) Given “Outperform” Rating at Cowen and Company

The Netflix Inc. (NFLX) Given “Outperform” Rating at Cowen and Company

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.

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