Netflix Inc. (NFLX) Rating Increased to Buy at the Vetr Inc.

Netflix Inc. (NFLX) Rating Increased to Buy at the Vetr Inc.

Netflix Inc. (NASDAQ:NFLX) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage currently has a $124.54 target price on the Internet television network’s stock. Vetr‘s price objective would indicate a potential upside of 8.50% from the stock’s previous close.

A number of other equities research analysts have also recently commented on NFLX. Cantor Fitzgerald reiterated a “buy” rating on shares of Netflix in a report on Friday, September 9th. FBR & Co reiterated a “market perform” rating and set a $90.00 price target on shares of Netflix in a report on Thursday, September 15th. Wedbush set a $45.00 price target on shares of Netflix and gave the company a “sell” rating in a report on Thursday, October 13th. RBC Capital Markets reiterated an “outperform” rating and set a $130.00 price target on shares of Netflix in a report on Monday, August 29th. Finally, Jefferies Group reiterated an “underperform” rating and set a $76.00 price target on shares of Netflix in a report on Friday, September 23rd. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $117.44.

Netflix (NASDAQ:NFLX) opened at 114.78 on Thursday. The stock has a market capitalization of $49.26 billion, a price-to-earnings ratio of 310.22 and a beta of 1.81. Netflix has a 1-year low of $79.95 and a 1-year high of $133.27. The company has a 50-day moving average of $112.44 and a 200-day moving average of $99.09.

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, topping the Zacks’ consensus estimate of $0.06 by $0.06. The business had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Netflix had a net margin of 1.99% and a return on equity of 6.31%. The business’s revenue was up 31.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.07 earnings per share. Analysts anticipate that Netflix will post $0.40 earnings per share for the current fiscal year.

In other news, CFO David B. Wells sold 500 shares of the stock in a transaction dated Wednesday, October 19th. The shares were sold at an average price of $120.00, for a total transaction of $60,000.00. Following the sale, the chief financial officer now owns 500 shares of the company’s stock, valued at $60,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director A George Battle sold 20,000 shares of the stock in a transaction dated Wednesday, October 19th. The stock was sold at an average price of $120.00, for a total transaction of $2,400,000.00. Following the sale, the director now directly owns 750 shares in the company, valued at approximately $90,000. The disclosure for this sale can be found here. Insiders own 4.90% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Cornerstone Advisors Inc. boosted its stake 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 valued at $102,000 after buying an additional 228 shares in the last quarter. Signature Estate & Investment Advisors LLC acquired a new stake in shares of Netflix during the second quarter valued at about $124,000. Quadrant Capital Group LLC boosted its stake 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 valued at $126,000 after buying an additional 194 shares in the last quarter. Coconut Grove Bank boosted its stake 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 valued at $140,000 after buying an additional 26 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake 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 valued at $155,000 after buying an additional 224 shares in the last quarter. 78.43% of the stock is currently owned by institutional investors and hedge funds.

Netflix Company Profile

Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.

Related posts

Leave a Comment