Rosenblatt Securities reissued their buy rating on shares of Netflix, Inc. (NASDAQ:NFLX) in a report published on Wednesday morning. They currently have a $200.00 price objective on the Internet television network’s stock.
Several other brokerages also recently commented on NFLX. MKM Partners raised their target price on shares of Netflix from $195.00 to $230.00 and gave the stock a buy rating in a report on Thursday, July 27th. BTIG Research raised their target price on shares of Netflix from $170.00 to $225.00 and gave the stock a buy rating in a report on Wednesday, July 26th. Moffett Nathanson restated a neutral rating on shares of Netflix in a report on Tuesday, July 18th. Zacks Investment Research downgraded shares of Netflix from a strong-buy rating to a hold rating in a report on Wednesday, July 19th. Finally, Vetr upgraded shares of Netflix from a strong sell rating to a sell rating and set a $163.64 target price on the stock in a report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-eight have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $175.12.
Netflix (NASDAQ NFLX) traded up 0.27% on Wednesday, hitting $166.54. 7,385,736 shares of the stock traded hands. The firm has a market cap of $71.90 billion, a price-to-earnings ratio of 202.60 and a beta of 1.02. The stock has a 50-day moving average of $170.82 and a 200-day moving average of $154.74. Netflix has a 12-month low of $93.26 and a 12-month high of $191.50.
Netflix (NASDAQ:NFLX) last announced its earnings results 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 company had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The business’s quarterly revenue was up 32.3% on a year-over-year basis. During the same quarter last year, the business posted $0.09 earnings per share. Analysts forecast that Netflix will post $1.19 earnings per share for the current year.
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In related news, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $157.81, for a total value of $315,620.00. Following the sale, the director now directly owns 8,012 shares in the company, valued at $1,264,373.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Reed Hastings sold 115,577 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $152.63, for a total value of $17,640,517.51. Following the completion of the sale, the chief executive officer now owns 115,577 shares in the company, valued at $17,640,517.51. The disclosure for this sale can be found here. Insiders sold 389,801 shares of company stock worth $64,889,201 over the last quarter. 4.90% of the stock is currently owned by company insiders.
A number of hedge funds have recently made changes to their positions in NFLX. Vanguard Group Inc. boosted its position in Netflix by 2.9% in the second quarter. Vanguard Group Inc. now owns 27,950,272 shares of the Internet television network’s stock worth $4,176,049,000 after buying an additional 789,190 shares during the last quarter. BlackRock Inc. boosted its position in Netflix by 1.7% in the second quarter. BlackRock Inc. now owns 25,663,728 shares of the Internet television network’s stock worth $3,834,416,000 after buying an additional 423,968 shares during the last quarter. FMR LLC boosted its position in Netflix by 12.4% in the second quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock worth $3,531,042,000 after buying an additional 2,605,731 shares during the last quarter. State Street Corp boosted its position in Netflix by 2.7% in the first quarter. State Street Corp now owns 17,535,737 shares of the Internet television network’s stock worth $2,591,946,000 after buying an additional 463,143 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Netflix by 14.0% in the second quarter. Jennison Associates LLC now owns 14,784,089 shares of the Internet television network’s stock worth $2,208,891,000 after buying an additional 1,814,056 shares during the last quarter. Institutional investors and hedge funds own 82.94% of the company’s stock.
About Netflix
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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