Netflix’s (NASDAQ:NFLX) “Outperform” Rating Reaffirmed at Cowen and Company

Netflix, Inc. (NASDAQ:NFLX)‘s stock had its “outperform” rating reissued by equities research analysts at Cowen and Company in a research note issued on Friday, July 14th. They currently have a $197.00 price objective on the Internet television network’s stock, up from their prior price objective of $170.00. Cowen and Company’s price objective would suggest a potential upside of 14.94% from the stock’s current price.

A number of other research firms have also recently issued reports on NFLX. Stifel Nicolaus increased their price objective on shares of Netflix from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Tuesday, April 18th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $175.00 price target on shares of Netflix in a research report on Monday, April 17th. FBR & Co raised their price target on shares of Netflix from $144.00 to $145.00 and gave the company a “mkt perform” rating in a research report on Tuesday, April 18th. Jefferies Group LLC raised their price target on shares of Netflix from $135.00 to $141.00 and gave the company a “hold” rating in a research report on Wednesday, April 19th. Finally, MKM Partners reiterated a “buy” rating and issued a $195.00 price objective on shares of Netflix in a research note on Monday, July 10th. Two analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-eight have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $175.13.

Shares of Netflix (NASDAQ NFLX) opened at 171.40 on Friday. Netflix has a one year low of $93.26 and a one year high of $191.50. The stock has a 50 day moving average price of $168.76 and a 200-day moving average price of $153.74. The company has a market capitalization of $74.00 billion, a P/E ratio of 208.52 and a beta of 1.02.

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

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In other Netflix news, CEO Reed Hastings sold 109,214 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $188.61, for a total transaction of $20,598,852.54. Following the transaction, the chief executive officer now owns 109,214 shares of the company’s stock, valued at approximately $20,598,852.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard N. Barton sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $187.79, for a total transaction of $187,790.00. Following the transaction, the director now directly owns 7,198 shares in the company, valued at approximately $1,351,712.42. The disclosure for this sale can be found here. Insiders have sold a total of 389,801 shares of company stock worth $64,889,201 in the last three months. Insiders own 4.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of NFLX. FMR LLC boosted its stake in Netflix by 12.4% in the second quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock worth $3,531,042,000 after buying an additional 2,605,731 shares in the last quarter. Jennison Associates LLC boosted its stake in Netflix by 21.4% in the first quarter. Jennison Associates LLC now owns 12,947,211 shares of the Internet television network’s stock worth $1,913,727,000 after buying an additional 2,279,835 shares in the last quarter. Vanguard Group Inc. boosted its stake in Netflix by 3.5% in the first quarter. Vanguard Group Inc. now owns 27,161,082 shares of the Internet television network’s stock worth $4,014,680,000 after buying an additional 921,283 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Netflix by 22,622.2% in the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 814,592 shares of the Internet television network’s stock worth $121,708,000 after buying an additional 811,007 shares in the last quarter. Finally, Winslow Capital Management LLC boosted its stake in Netflix by 495,050.8% in the second quarter. Winslow Capital Management LLC now owns 623,890 shares of the Internet television network’s stock worth $93,216,000 after buying an additional 623,764 shares in the last quarter. 82.78% 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.

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