Wedbush reaffirmed their underperform rating on shares of Netflix, Inc. (NASDAQ:NFLX) in a research note released on Tuesday morning. Wedbush currently has a $82.00 price objective on the Internet television network’s stock, up from their prior price objective of $73.00.
Other analysts also recently issued reports about the stock. MKM Partners reaffirmed a buy rating and issued a $175.00 price objective on shares of Netflix in a report on Monday, March 27th. Zacks Investment Research upgraded shares of Netflix from a hold rating to a buy rating and set a $163.00 target price for the company in a research note on Tuesday, March 21st. Loop Capital reiterated a buy rating and issued a $167.00 target price (up from $159.00) on shares of Netflix in a research note on Monday, March 20th. Cantor Fitzgerald reiterated a buy rating and issued a $160.00 target price (up from $148.64) on shares of Netflix in a research note on Thursday, April 13th. Finally, Goldman Sachs Group, Inc. (The) reiterated a buy rating and issued a $170.00 target price on shares of Netflix in a research note on Friday, April 14th. Two research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-nine have given a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $169.38.
Netflix (NASDAQ:NFLX) traded up 2.16% on Tuesday, reaching $187.56. 7,862,034 shares of the company’s stock traded hands. The stock has a market cap of $80.91 billion, a price-to-earnings ratio of 228.18 and a beta of 0.98. Netflix has a 12-month low of $85.01 and a 12-month high of $187.84. The stock has a 50 day moving average price of $158.04 and a 200 day moving average price of $148.40.
Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 EPS for the quarter, missing the consensus estimate of $0.16 by $0.01. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The firm’s revenue was up 32.3% on a year-over-year basis. During the same period last year, the company earned $0.09 earnings per share. Analysts forecast that Netflix will post $1.16 EPS for the current year.
In other news, Director Richard N. Barton sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $159.08, for a total transaction of $318,160.00. Following the transaction, the director now directly owns 7,082 shares in the company, valued at $1,126,604.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Leslie J. Kilgore sold 1,211 shares of the firm’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $147.38, for a total transaction of $178,477.18. Following the transaction, the director now owns 36,407 shares in the company, valued at $5,365,663.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 343,728 shares of company stock worth $53,858,193. Insiders own 4.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in NFLX. Clean Yield Group acquired a new position in shares of Netflix during the first quarter worth about $103,000. TD Capital Management LLC acquired a new position in shares of Netflix during the second quarter worth about $105,000. SRS Capital Advisors Inc. raised its position in shares of Netflix by 3,361.9% in the first quarter. SRS Capital Advisors Inc. now owns 727 shares of the Internet television network’s stock worth $107,000 after buying an additional 706 shares during the period. Harfst & Associates Inc. acquired a new position in shares of Netflix during the first quarter worth about $109,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its position in Netflix by 24.2% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 770 shares of the Internet television network’s stock worth $114,000 after buying an additional 150 shares during the period. Institutional investors and hedge funds 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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