Cowen and Company reissued their outperform rating on shares of Netflix, Inc. (NASDAQ:NFLX) in a research note issued to investors on Friday. The brokerage currently has a $197.00 price target on the Internet television network’s stock, up from their prior price target of $170.00.
NFLX has been the topic of a number of other reports. Instinet reissued a buy rating on shares of Netflix in a research report on Friday, June 2nd. Canaccord Genuity raised their price target on shares of Netflix from $165.00 to $175.00 and gave the company a buy rating in a research report on Friday, June 16th. Bank of America Corporation reissued a buy rating and set a $184.00 price target (up from $154.00) on shares of Netflix in a research report on Tuesday, April 18th. Pacific Crest reissued an overweight rating and set a $170.00 price target on shares of Netflix in a research report on Friday, April 7th. Finally, Morgan Stanley reissued an overweight rating and set a $185.00 price target (up from $175.00) on shares of Netflix in a research report on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and thirty have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus price target of $169.38.
Shares of Netflix (NFLX) traded up 14.056% during midday trading on Friday, hitting $184.429. 35,774,293 shares of the stock were exchanged. The stock has a market capitalization of $79.49 billion, a price-to-earnings ratio of 238.589 and a beta of 0.99. Netflix has a 1-year low of $84.50 and a 1-year high of $185.00. The firm’s 50 day moving average is $157.81 and its 200-day moving average is $144.87. Netflix also was the recipient of some unusual options trading activity on Monday. Stock investors purchased 105,623 call options on the company. This represents an increase of 271% compared to the average daily volume of 28,474 call options.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.73%. The firm’s quarterly revenue was up 32.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.09 earnings per share. On average, analysts predict that Netflix will post $1.05 EPS for the current year.
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In other news, Director Richard N. Barton sold 2,000 shares of the stock in a transaction that occurred on Wednesday, April 19th. The shares were sold at an average price of $145.38, for a total value of $290,760.00. Following the transaction, the director now owns 8,012 shares in the company, valued at approximately $1,164,784.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel David A. Hyman sold 14,021 shares of the stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $150.00, for a total transaction of $2,103,150.00. Following the completion of the transaction, the general counsel now owns 41,629 shares in the company, valued at approximately $6,244,350. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 420,458 shares of company stock worth $64,059,503. Insiders own 4.90% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Main Street Research LLC boosted its position in shares of Netflix by 18.8% in the second quarter. Main Street Research LLC now owns 46,901 shares of the Internet television network’s stock valued at $7,007,000 after buying an additional 7,413 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Netflix by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 26,700 shares of the Internet television network’s stock valued at $3,989,000 after buying an additional 200 shares during the period. LS Investment Advisors LLC boosted its position in shares of Netflix by 1.0% in the second quarter. LS Investment Advisors LLC now owns 7,595 shares of the Internet television network’s stock valued at $1,135,000 after buying an additional 78 shares during the period. Dixon Hubard Feinour & Brown Inc. VA boosted its position in shares of Netflix by 2.5% in the second quarter. Dixon Hubard Feinour & Brown Inc. VA now owns 9,970 shares of the Internet television network’s stock valued at $1,490,000 after buying an additional 245 shares during the period. Finally, Harwood Advisory Group LLC boosted its position in shares of Netflix by 50.0% in the second quarter. Harwood Advisory Group LLC now owns 9,384 shares of the Internet television network’s stock valued at $1,402,000 after buying an additional 3,126 shares during the period. Hedge funds and other institutional investors own 82.77% of the company’s stock.
Netflix Company Profile
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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