Netflix Inc. (NASDAQ:NFLX) had its price target lowered by equities research analysts at FBR & Co from $100.00 to $90.00 in a research note issued to investors on Tuesday. The brokerage currently has a “mkt perform” rating on the Internet television network’s stock. FBR & Co’s price objective suggests a potential downside of 9.82% from the stock’s current price.
A number of other brokerages have also issued reports on NFLX. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $116.00 target price (down from $125.00) on shares of Netflix in a research report on Tuesday, July 19th. MKM Partners cut their target price on Netflix from $145.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, July 20th. Vetr raised Netflix from a “hold” rating to a “buy” rating and set a $103.71 target price on the stock in a research report on Thursday, September 8th. BMO Capital Markets reaffirmed a “market perform” rating and set a $85.00 target price on shares of Netflix in a research report on Thursday, July 28th. Finally, Jefferies Group reaffirmed an “underperform” rating and set a $76.00 target price on shares of Netflix in a research report on Friday, September 23rd. Seven equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $113.80.
Netflix (NASDAQ:NFLX) opened at 99.80 on Tuesday. The stock has a 50 day moving average price of $98.99 and a 200 day moving average price of $96.28. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The firm has a market capitalization of $42.79 billion, a price-to-earnings ratio of 311.88 and a beta of 1.14.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, October 17th. The Internet television network reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.06 by $0.06. The business earned $2.29 billion during the quarter, compared to analyst estimates of $2.28 billion. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The company’s revenue was up 31.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Analysts predict that Netflix will post $0.28 EPS for the current year.
In other Netflix news, Director Jay C. Hoag acquired 600,000 shares of the company’s stock in a transaction that occurred on Monday, July 25th. The shares were acquired at an average price of $86.43 per share, with a total value of $51,858,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Reed Hastings sold 116,431 shares of the business’s stock in a transaction dated Thursday, July 21st. The stock was sold at an average price of $86.59, for a total transaction of $10,081,760.29. Following the sale, the chief executive officer now directly owns 116,431 shares in the company, valued at approximately $10,081,760.29. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
Large investors have recently bought and sold shares of the company. National Pension Service raised its stake in Netflix by 8.7% in the third quarter. National Pension Service now owns 272,049 shares of the Internet television network’s stock valued at $26,810,000 after buying an additional 21,790 shares during the last quarter. Highland Capital Management LLC raised its stake in Netflix by 218.5% in the third quarter. Highland Capital Management LLC now owns 10,350 shares of the Internet television network’s stock valued at $1,020,000 after buying an additional 7,100 shares during the last quarter. Hollencrest Securities LLC acquired a new stake in Netflix during the third quarter valued at approximately $618,000. Capstone Asset Management Co. raised its stake in Netflix by 3.3% in the third quarter. Capstone Asset Management Co. now owns 29,406 shares of the Internet television network’s stock valued at $2,898,000 after buying an additional 938 shares during the last quarter. Finally, Grassi Investment Management acquired a new stake in Netflix during the third quarter valued at approximately $207,000. 78.41% of the stock is currently owned by institutional investors and hedge funds.
Netflix Company Profile