Netflix’s (NFLX) “Overweight” Rating Reiterated at Piper Jaffray Companies

Piper Jaffray Companies restated their overweight rating on shares of Netflix, Inc. (NASDAQ:NFLX) in a research report report published on Monday. They currently have a $215.00 price objective on the Internet television network’s stock.

Several other equities analysts have also recently commented on the company. Morgan Stanley set a $210.00 target price on Netflix and gave the stock a buy rating in a research report on Tuesday, July 18th. Sanford C. Bernstein restated an outperform rating and set a $203.00 target price (up from $178.00) on shares of Netflix in a research report on Tuesday, July 18th. Wedbush boosted their target price on Netflix from $68.00 to $73.00 and gave the stock an underperform rating in a research report on Tuesday, April 18th. Vetr upgraded Netflix from a sell rating to a hold rating and set a $138.98 target price for the company in a research report on Monday, April 17th. Finally, Pivotal Research boosted their target price on Netflix from $170.00 to $175.00 and gave the stock a buy rating in a research report on Tuesday, April 18th. Two research 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 company. The company has an average rating of Buy and a consensus price target of $175.12.

Netflix (NASDAQ NFLX) opened at 169.98 on Monday. The company’s 50 day moving average price is $169.99 and its 200-day moving average price is $154.47. Netflix has a 12-month low of $93.26 and a 12-month high of $191.50. The firm has a market capitalization of $73.39 billion, a price-to-earnings ratio of 206.79 and a beta of 1.02.

Netflix (NASDAQ:NFLX) last announced its quarterly 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. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.76 billion. Netflix had a net margin of 3.55% and a return on equity of 12.82%. Netflix’s revenue for the quarter was up 32.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share. On average, equities analysts anticipate that Netflix will post $1.19 earnings per share for the current fiscal year.

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In other news, Director Richard N. Barton sold 1,000 shares of Netflix stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $156.62, for a total transaction of $156,620.00. Following the completion of the sale, the director now owns 8,012 shares of the company’s stock, valued at $1,254,839.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Reed Hastings sold 101,815 shares of Netflix stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $157.13, for a total transaction of $15,998,190.95. Following the sale, the chief executive officer now directly owns 101,815 shares of the company’s stock, valued at approximately $15,998,190.95. The disclosure for this sale can be found here. In the last three months, insiders sold 389,801 shares of company stock valued at $64,889,201. 4.90% of the stock is owned by insiders.

Several hedge funds have recently bought and sold shares of the stock. FMR LLC increased its position in shares of 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 during the period. Jennison Associates LLC increased its position in shares of 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 during the period. Janus Henderson Group PLC increased its position in shares of Netflix by 3,478.1% in the second quarter. Janus Henderson Group PLC now owns 2,041,458 shares of the Internet television network’s stock worth $305,014,000 after buying an additional 1,984,404 shares during the period. Vanguard Group Inc. increased its position in shares of 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 during the period. Finally, Los Angeles Capital Management & Equity Research Inc. increased its position in shares of 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 during the period. 82.94% of the stock is owned by hedge funds and other institutional investors.

Netflix Company Profile

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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