Netflix, Inc. (NFLX) Earns “Buy” Rating from Instinet

Netflix, Inc. (NASDAQ:NFLX)‘s stock had its “buy” rating reissued by equities research analysts at Instinet in a note issued to investors on Tuesday, April 18th. They presently have a $165.00 price objective on the Internet television network’s stock. Instinet’s target price would indicate a potential upside of 5.08% from the company’s current price.

Several other equities research analysts also recently issued reports on NFLX. FBR & Co reissued a “market perform” rating and set a $100.00 price objective on shares of Netflix in a research report on Tuesday, January 17th. Jefferies Group LLC increased their target price on shares of Netflix from $80.00 to $95.00 and gave the stock an “underperform” rating in a report on Thursday, January 19th. BMO Capital Markets increased their target price on shares of Netflix from $115.00 to $150.00 and gave the stock a “market perform” rating in a report on Thursday, January 19th. Canaccord Genuity restated a “buy” rating and set a $140.00 target price on shares of Netflix in a report on Wednesday, December 21st. Finally, Robert W. Baird restated a “neutral” rating and set a $120.00 target price on shares of Netflix in a report on Thursday, January 5th. Two analysts have rated the stock with a sell rating, seventeen have given a hold rating and twenty-six have given a buy rating to the company’s stock. Netflix has a consensus rating of “Buy” and an average price target of $146.24.

Analyst Recommendations for Netflix (NASDAQ:NFLX)

Netflix (NASDAQ:NFLX) opened at 157.02 on Tuesday. The stock has a market capitalization of $67.67 billion, a price-to-earnings ratio of 203.13 and a beta of 1.27. The company has a 50-day moving average price of $150.62 and a 200-day moving average price of $137.05. Netflix has a 12-month low of $84.50 and a 12-month high of $161.78.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, April 17th. The Internet television network reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Netflix had a net margin of 2.11% and a return on equity of 7.51%. The company had revenue of $2.64 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The firm’s revenue was up 34.7% compared to the same quarter last year. On average, equities research analysts forecast that Netflix will post $1.04 earnings per share for the current year.

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In other Netflix news, CEO Reed Hastings sold 91,994 shares of the company’s stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $140.97, for a total transaction of $12,968,394.18. Following the sale, the chief executive officer now directly owns 91,994 shares of the company’s stock, valued at $12,968,394.18. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $141.73, for a total transaction of $283,460.00. Following the sale, the director now directly owns 8,012 shares in the company, valued at $1,135,540.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 368,241 shares of company stock worth $53,520,038. Insiders own 4.90% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. First Trust Advisors LP boosted its stake in shares of Netflix by 6.4% in the third quarter. First Trust Advisors LP now owns 1,958,697 shares of the Internet television network’s stock valued at $193,030,000 after buying an additional 117,557 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Netflix by 3.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 66,881 shares of the Internet television network’s stock valued at $6,591,000 after buying an additional 1,972 shares in the last quarter. Sigma Planning Corp boosted its stake in shares of Netflix by 0.5% in the third quarter. Sigma Planning Corp now owns 10,692 shares of the Internet television network’s stock valued at $1,054,000 after buying an additional 54 shares in the last quarter. RPG Investment Advisory LLC boosted its stake in shares of Netflix by 56.2% in the third quarter. RPG Investment Advisory LLC now owns 32,154 shares of the Internet television network’s stock valued at $3,168,000 after buying an additional 11,574 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Netflix by 60.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 94,950 shares of the Internet television network’s stock valued at $9,357,000 after buying an additional 35,631 shares in the last quarter. Hedge funds and other institutional investors own 80.42% 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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