Netflix, Inc. (NFLX) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Netflix, Inc. (NASDAQ:NFLX) from a buy rating to a hold rating in a report published on Tuesday, July 11th.

According to Zacks, “Netflix will continue to benefit from its focus on original programming and international expansion. Netflix added 4.95 million subscribers in the last reported quarter, taking the total count to 98.75 million. Going ahead, the company expects to add 0.60 million subscribers in the domestic streaming segment and 2.60 million subscribers in the international segment in the second quarter. The company’s efforts to attract viewers through investing in more regional programming should also boost user base. In the past one year, Netflix shares outperformed the Zacks categorized Broadcast Radio/TV industry. But, investments in original/acquired content remain a drag on profitability. We believe that Netflix’s ability to effectively manage costs will dictate its future prospects. Estimates have remained stable ahead of the upcoming earnings release. “

Several other research firms have also commented on NFLX. Cantor Fitzgerald raised their price objective on shares of Netflix from $165.00 to $190.00 and gave the company an overweight rating in a research note on Tuesday, June 6th. Sanford C. Bernstein reissued a buy rating and issued a $178.00 price objective on shares of Netflix in a research note on Wednesday, May 31st. William Blair reaffirmed an outperform rating on shares of Netflix in a report on Thursday, May 25th. Vetr cut shares of Netflix from a buy rating to a hold rating and set a $166.13 target price on the stock. in a report on Thursday, May 25th. Finally, Instinet reaffirmed a buy rating on shares of Netflix in a report on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-nine have given a buy rating to the company. The stock has a consensus rating of Buy and an average price target of $174.74.

Shares of Netflix (NASDAQ:NFLX) opened at 178.36 on Tuesday. Netflix has a 12-month low of $92.95 and a 12-month high of $191.50. The company has a market cap of $77.01 billion, a price-to-earnings ratio of 216.98 and a beta of 1.02. The stock has a 50 day moving average of $165.67 and a 200 day moving average of $152.34.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. During the same period in the previous year, the business posted $0.09 EPS. The company’s revenue for the quarter was up 32.3% compared to the same quarter last year. Analysts forecast that Netflix will post $1.17 earnings per share for the current year.

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In related news, insider Gregory K. Peters sold 6,853 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $164.29, for a total transaction of $1,125,879.37. Following the sale, the insider now directly owns 19,943 shares of the company’s stock, valued at approximately $3,276,435.47. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 388,801 shares of company stock worth $64,673,171. Corporate insiders own 4.90% of the company’s stock.

A number of large investors have recently modified their holdings of the company. Clean Yield Group bought a new stake in shares of Netflix during the first quarter valued at $103,000. TD Capital Management LLC bought a new stake in shares of Netflix during the second quarter valued at $105,000. SRS Capital Advisors Inc. raised its stake 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 valued at $107,000 after buying an additional 706 shares in the last quarter. Harfst & Associates Inc. bought a new stake in shares of Netflix during the first quarter valued at $109,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in shares of 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 valued at $114,000 after buying an additional 150 shares in the last quarter. 82.78% of the stock is currently owned by hedge funds and other institutional investors.

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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