Netflix Inc. (NASDAQ:NFLX) had its target price increased by JPMorgan Chase & Co. from $116.00 to $125.00 in a research report sent to investors on Tuesday. They currently have an overweight rating on the Internet television network’s stock.
A number of other analysts also recently weighed in on the company. Jefferies Group restated an underperform rating and issued a $76.00 target price (down previously from $80.00) on shares of Netflix in a research report on Sunday, July 17th. Wedbush restated an underperform rating and issued a $50.00 target price (up previously from $45.00) on shares of Netflix in a research report on Sunday, July 17th. SunTrust Banks Inc. restated a hold rating on shares of Netflix in a research report on Sunday, July 17th. BTIG Research restated a buy rating and issued a $130.00 target price (down previously from $150.00) on shares of Netflix in a research report on Sunday, July 17th. Finally, Cantor Fitzgerald restated a buy rating and issued a $140.00 target price on shares of Netflix in a research report on Tuesday, May 31st. Seven analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-eight have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $110.59.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.07. The firm earned $2.11 billion during the quarter, compared to the consensus estimate of $2.11 billion. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the company posted $0.06 EPS.
In other news, Director Richard N. Barton sold 700 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $98.78, for a total value of $69,146.00. Following the completion of the transaction, the director now owns 15,562 shares of the company’s stock, valued at approximately $1,537,214.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jay C. Hoag acquired 600,000 shares of the firm’s stock in a transaction dated Monday, July 25th. The stock was bought at an average cost of $86.43 per share, with a total value of $51,858,000.00. The disclosure for this purchase can be found here. Company insiders own 4.90% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Macquarie Group Ltd. boosted its position in shares of Netflix by 34.9% in the second quarter. Macquarie Group Ltd. now owns 115,690 shares of the Internet television network’s stock valued at $10,583,000 after buying an additional 29,915 shares during the period. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Netflix during the second quarter valued at about $1,582,000. Kentucky Retirement Systems bought a new position in shares of Netflix during the second quarter valued at about $3,332,000. Mason Street Advisors LLC bought a new position in shares of Netflix during the second quarter valued at about $5,277,000. Finally, Northwestern Mutual Wealth Management Co. boosted its position in shares of Netflix by 7.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,893 shares of the Internet television network’s stock valued at $539,000 after buying an additional 390 shares during the period. 78.43% of the stock is owned by institutional investors and hedge funds.
Netflix Company Profile
Netflix, Inc (Netflix) is a provider of Internet television network. The Company’s members can watch original series, documentaries and feature films in Internet-connected screen. The Company has three operating segments: Domestic streaming, International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content.
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