Wedbush Reiterates Sell Rating for Netflix, Inc. (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLX)‘s stock had its “sell” rating restated by research analysts at Wedbush in a report released on Wednesday.

Other analysts also recently issued research reports about the company. UBS AG reiterated a “buy” rating and set a $175.00 price target on shares of Netflix in a research note on Wednesday, April 19th. Loop Capital boosted their price target on Netflix from $162.00 to $172.00 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. BMO Capital Markets reiterated a “market perform” rating and set a $180.00 price target (up previously from $150.00) on shares of Netflix in a research note on Tuesday, July 18th. Needham & Company LLC reiterated a “hold” rating on shares of Netflix in a research note on Tuesday, July 18th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $199.00 price target (up previously from $184.00) on shares of Netflix in a research note on Tuesday, July 18th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-nine have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $174.79.

Shares of Netflix (NASDAQ:NFLX) opened at 170.596 on Wednesday. The firm has a market capitalization of $73.65 billion, a P/E ratio of 207.538 and a beta of 1.02. The firm’s 50-day moving average is $168.29 and its 200-day moving average is $153.50. Netflix has a 52 week low of $93.26 and a 52 week high of $191.50.

Netflix (NASDAQ:NFLX) last announced its earnings results on Monday, July 17th. The Internet television network reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.01. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter last year, the firm earned $0.09 earnings per share. The firm’s quarterly revenue was up 32.3% compared to the same quarter last year. Equities analysts anticipate that Netflix will post $1.19 EPS for the current year.

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In other Netflix news, Director Richard N. Barton sold 2,000 shares of the firm’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gregory K. Peters sold 6,853 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $164.29, for a total value of $1,125,879.37. Following the completion of the sale, the insider now owns 19,943 shares in the company, valued at $3,276,435.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 389,801 shares of company stock worth $64,889,201. 4.90% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of NFLX. Guardian Life Insurance Co. of America boosted its stake in Netflix by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,655 shares of the Internet television network’s stock worth $245,000 after buying an additional 11 shares in the last quarter. Teachers Advisors LLC boosted its stake in Netflix by 2.0% in the first quarter. Teachers Advisors LLC now owns 1,300,531 shares of the Internet television network’s stock worth $192,231,000 after buying an additional 25,266 shares during the period. Banco Santander S.A. purchased a new stake in Netflix during the first quarter worth approximately $43,264,000. Bronfman E.L. Rothschild L.P. boosted its stake in Netflix by 0.8% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,134 shares of the Internet television network’s stock worth $168,000 after buying an additional 9 shares during the period. Finally, Twin Capital Management Inc. boosted its stake in Netflix by 0.8% in the first quarter. Twin Capital Management Inc. now owns 16,900 shares of the Internet television network’s stock worth $2,498,000 after buying an additional 130 shares during the period. Institutional investors own 82.78% 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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