Netflix, Inc. (NASDAQ:NFLX) Rating Reiterated by Buckingham Research

Netflix, Inc. (NASDAQ:NFLX)‘s stock had its “buy” rating reaffirmed by analysts at Buckingham Research in a research note issued on Monday, October 9th. They currently have a $214.00 price target on the Internet television network’s stock. Buckingham Research’s price objective would suggest a potential upside of 10.22% from the stock’s previous close.

Several other brokerages have also recently commented on NFLX. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 target price (up from $200.00) on shares of Netflix in a report on Friday, October 6th. Wedbush reiterated an “underperform” rating and issued a $180.00 target price (up from $165.00) on shares of Netflix in a report on Sunday, October 8th. Loop Capital raised their price target on shares of Netflix from $212.00 to $228.00 and gave the stock a “buy” rating in a report on Monday, October 9th. Cantor Fitzgerald restated a “buy” rating and set a $205.00 price target on shares of Netflix in a report on Thursday, October 5th. Finally, KeyCorp restated a “buy” rating and set a $206.00 price target on shares of Netflix in a report on Thursday, October 5th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirty-three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $207.30.

Netflix (NASDAQ:NFLX) traded down 0.50% on Monday, reaching $194.16. 5,995,568 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $186.73 and a 200-day moving average of $167.39. Netflix has a 12-month low of $110.68 and a 12-month high of $204.38. The company has a market cap of $83.96 billion, a P/E ratio of 193.97 and a beta of 1.09.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, October 16th. The Internet television network reported $0.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). Netflix had a return on equity of 14.56% and a net margin of 4.04%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same period in the prior year, the firm earned $0.12 EPS. The business’s revenue for the quarter was up 30.3% on a year-over-year basis. Equities analysts expect that Netflix will post $1.25 EPS for the current fiscal year.

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In related news, insider Jonathan Friedland sold 3,622 shares of the company’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $194.89, for a total transaction of $705,891.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Reed Hastings sold 109,214 shares of the company’s stock in a transaction on Monday, July 24th. The stock was sold at an average price of $188.61, for a total value of $20,598,852.54. Following the sale, the chief executive officer now owns 109,214 shares of the company’s stock, valued at approximately $20,598,852.54. The disclosure for this sale can be found here. Insiders have sold 305,288 shares of company stock valued at $55,168,715 in the last quarter. 4.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. APG Asset Management N.V. boosted its position in Netflix by 3.6% in the third quarter. APG Asset Management N.V. now owns 565,831 shares of the Internet television network’s stock worth $102,613,000 after purchasing an additional 19,600 shares during the last quarter. Merriman Wealth Management LLC purchased a new position in Netflix in the third quarter worth $1,077,000. Fisher Asset Management LLC boosted its position in Netflix by 36.6% in the third quarter. Fisher Asset Management LLC now owns 2,111 shares of the Internet television network’s stock worth $383,000 after purchasing an additional 566 shares during the last quarter. Arcadia Investment Management Corp MI boosted its position in Netflix by 13.9% in the third quarter. Arcadia Investment Management Corp MI now owns 6,770 shares of the Internet television network’s stock worth $1,228,000 after purchasing an additional 825 shares during the last quarter. Finally, Asset Dedication LLC boosted its position in Netflix by 14.1% in the third quarter. Asset Dedication LLC now owns 3,083 shares of the Internet television network’s stock worth $553,000 after purchasing an additional 381 shares during the last quarter. 81.02% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Netflix (NASDAQ:NFLX)

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