Buckingham Research started coverage on shares of Netflix, Inc. (NASDAQ:NFLX) in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $214.00 price objective on the Internet television network’s stock.
Several other brokerages also recently weighed in on NFLX. MKM Partners lifted their price target on shares of Netflix from $195.00 to $230.00 and gave the company a buy rating in a report on Thursday, July 27th. BTIG Research boosted 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. Vetr raised shares of Netflix from a strong sell rating to a sell rating and set a $177.49 target price on the stock in a report on Tuesday, September 19th. Royal Bank Of Canada reissued an outperform rating and issued a $210.00 target price on shares of Netflix in a report on Wednesday. Finally, Hanson reissued a neutral rating and issued a $140.00 target price on shares of Netflix in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $178.90.
Shares of Netflix (NFLX) opened at 187.35 on Thursday. Netflix has a 1-year low of $93.26 and a 1-year high of $191.50. The stock has a market capitalization of $80.89 billion, a PE ratio of 227.92 and a beta of 1.05. The firm has a 50-day moving average of $175.28 and a 200 day moving average of $160.06.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.01). Netflix had a net margin of 3.55% and a return on equity of 12.82%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the prior year, the firm earned $0.09 EPS. Netflix’s revenue for the quarter was up 32.3% compared to the same quarter last year. Analysts predict that Netflix will post $1.17 EPS for the current year.
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In other news, Director Richard N. Barton sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $156.62, for a total transaction of $156,620.00. Following the sale, the director now owns 8,012 shares of the company’s stock, valued at approximately $1,254,839.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Reed Hastings sold 75,467 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $185.02, for a total transaction of $13,962,904.34. Following the sale, the chief executive officer now directly owns 75,467 shares in the company, valued at approximately $13,962,904.34. The disclosure for this sale can be found here. Insiders have sold a total of 311,325 shares of company stock worth $55,912,478 in the last ninety days. Corporate insiders own 4.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. grew its stake in shares of Netflix by 0.8% during the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 1,134 shares of the Internet television network’s stock worth $168,000 after purchasing an additional 9 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Netflix by 0.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,684 shares of the Internet television network’s stock worth $229,000 after purchasing an additional 10 shares during the period. Guardian Life Insurance Co. of America grew its stake in shares of Netflix by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,655 shares of the Internet television network’s stock worth $245,000 after purchasing an additional 11 shares during the period. M Holdings Securities Inc. grew its stake in shares of Netflix by 0.5% during the 1st quarter. M Holdings Securities Inc. now owns 2,467 shares of the Internet television network’s stock worth $365,000 after purchasing an additional 12 shares during the period. Finally, Heritage Investors Management Corp grew its stake in shares of Netflix by 0.6% during the 2nd quarter. Heritage Investors Management Corp now owns 1,995 shares of the Internet television network’s stock worth $298,000 after purchasing an additional 12 shares during the period. 81.03% of the stock is currently owned by institutional investors and hedge funds.
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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