Vetr Downgrades Netflix (NFLX) to Buy

Netflix (NASDAQ:NFLX) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a report issued on Tuesday. They presently have a $208.27 price target on the Internet television network’s stock. Vetr‘s price target suggests a potential upside of 10.92% from the stock’s current price.

A number of other research firms have also issued reports on NFLX. Piper Jaffray Companies reaffirmed a “buy” rating and set a $215.00 target price on shares of Netflix in a report on Monday, September 18th. Loop Capital lifted their target price on Netflix from $228.00 to $242.00 and gave the stock a “buy” rating in a report on Tuesday, October 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $210.00 target price on shares of Netflix in a report on Friday, October 6th. Buckingham Research reaffirmed a “buy” rating and set a $214.00 target price on shares of Netflix in a report on Monday, October 9th. Finally, Argus reaffirmed a “hold” rating on shares of Netflix in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, seventeen have given a hold rating and thirty-four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $209.46.

Netflix (NASDAQ NFLX) traded down $2.18 during trading hours on Tuesday, reaching $187.76. The company had a trading volume of 3,044,444 shares, compared to its average volume of 6,593,499. The firm has a market capitalization of $80,910.00, a price-to-earnings ratio of 189.66, a P/E/G ratio of 5.66 and a beta of 1.33. Netflix has a 1 year low of $123.60 and a 1 year high of $204.38. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.47.

Netflix (NASDAQ:NFLX) last released its earnings results on Monday, October 16th. The Internet television network reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.97 billion. Netflix had a return on equity of 14.56% and a net margin of 4.04%. Netflix’s revenue was up 30.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.12 earnings per share. equities analysts anticipate that Netflix will post 1.26 earnings per share for the current fiscal year.

In other news, CEO Reed Hastings sold 83,335 shares of Netflix stock in a transaction dated Monday, October 23rd. The stock was sold at an average price of $192.79, for a total transaction of $16,066,154.65. Following the completion of the sale, the chief executive officer now directly owns 83,335 shares in the company, valued at approximately $16,066,154.65. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jonathan Friedland sold 3,617 shares of Netflix stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $203.35, for a total value of $735,516.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 341,379 shares of company stock worth $66,175,098. Company insiders own 4.90% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrant Capital Group LLC lifted its holdings in Netflix by 0.6% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,684 shares of the Internet television network’s stock worth $229,000 after purchasing an additional 10 shares during the last quarter. Kalos Management Inc. lifted its holdings in Netflix by 0.7% in the 2nd quarter. Kalos Management Inc. now owns 1,621 shares of the Internet television network’s stock worth $242,000 after purchasing an additional 12 shares during the last quarter. Laurel Wealth Advisors Inc. lifted its holdings in Netflix by 1.6% in the 2nd quarter. Laurel Wealth Advisors Inc. now owns 3,452 shares of the Internet television network’s stock worth $515,000 after purchasing an additional 53 shares during the last quarter. Sii Investments Inc. WI lifted its holdings in Netflix by 2.1% in the 2nd quarter. Sii Investments Inc. WI now owns 3,075 shares of the Internet television network’s stock worth $460,000 after purchasing an additional 64 shares during the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in Netflix by 2.1% in the 2nd quarter. Sunbelt Securities Inc. now owns 3,103 shares of the Internet television network’s stock worth $464,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 83.27% of the company’s stock.

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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.

Analyst Recommendations for Netflix (NASDAQ:NFLX)

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