Trading Report: The Netflix’s (NFLX) Underperform Rating Reaffirmed at Jefferies Group

The Netflix’s (NFLX) Underperform Rating Reaffirmed at Jefferies Group

Jefferies Group reaffirmed their underperform rating on shares of Netflix Inc. (NASDAQ:NFLX) in a research report sent to investors on Wednesday morning. Jefferies Group currently has a $76.00 price objective on the Internet television network’s stock.

A number of other analysts have also recently weighed in on NFLX. Vetr cut shares of Netflix from a strong-buy rating to a buy rating and set a $106.59 price target for the company. in a research note on Thursday, June 16th. Nomura reiterated a buy rating and set a $115.00 price target (down previously from $125.00) on shares of Netflix in a research note on Monday, June 20th. Zacks Investment Research upgraded shares of Netflix from a hold rating to a buy rating and set a $105.00 price target for the company in a research note on Tuesday, June 21st. Sanford C. Bernstein reiterated an underperform rating and set a $62.00 price target on shares of Netflix in a research note on Wednesday, June 22nd. Finally, Cantor Fitzgerald reiterated a buy rating and set a $140.00 price target on shares of Netflix in a research note on Thursday, June 23rd. Eight research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-eight have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $110.32.

Shares of Netflix (NASDAQ:NFLX) traded down 0.99% during trading on Wednesday, hitting $98.51. 2,730,784 shares of the stock were exchanged. The stock’s 50 day moving average price is $98.66 and its 200-day moving average price is $96.37. The company has a market cap of $42.23 billion, a price-to-earnings ratio of 307.84 and a beta of 1.14. Netflix has a one year low of $79.95 and a one year high of $133.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.07. The firm earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.11 billion. Netflix had a net margin of 1.85% and a return on equity of 5.59%. Netflix’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. On average, analysts predict 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 company’s stock in a transaction dated Monday, July 25th. The shares were bought at an average price of $86.43 per share, for a total transaction of $51,858,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jay C. Hoag bought 300,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was acquired at an average price of $94.31 per share, for a total transaction of $28,293,000.00. The disclosure for this purchase can be found here. 4.90% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of the stock. Cornerstone Advisors Inc. increased its position in shares of Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock worth $102,000 after buying an additional 228 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new position in shares of Netflix during the second quarter worth $124,000. Quadrant Capital Group LLC increased its position in shares of Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock worth $126,000 after buying an additional 194 shares in the last quarter. Coconut Grove Bank increased its position in shares of Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock worth $140,000 after buying an additional 26 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in shares of 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 worth $155,000 after buying an additional 224 shares in the last quarter. Institutional investors own 78.43% of the company’s stock.

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