Netflix Inc. (NFLX) Receives Buy Rating from RBC Capital Markets
Netflix Inc. (NASDAQ:NFLX)‘s stock had its “buy” rating reissued by equities research analysts at RBC Capital Markets in a research note issued on Thursday.
NFLX has been the topic of several other reports. Morgan Stanley reaffirmed a “buy” rating and issued a $125.00 target price on shares of Netflix in a report on Monday, June 6th. Needham & Company LLC cut Netflix from a “buy” rating to a “hold” rating and lifted their target price for the stock from $95.15 to $96.67 in a report on Tuesday, July 5th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $122.00 target price on shares of Netflix in a report on Monday, May 23rd. Bank of America Corp. reaffirmed a “buy” rating and issued a $146.00 target price on shares of Netflix in a report on Friday, August 26th. Finally, Wedbush lifted their target price on Netflix from $45.00 to $50.00 and gave the stock an “underperform” rating in a report on Tuesday, July 19th. Seven investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $110.48.
Netflix (NASDAQ:NFLX) opened at 97.34 on Thursday. The company has a market cap of $41.73 billion, a price-to-earnings ratio of 304.19 and a beta of 1.71. The firm’s 50-day moving average price is $96.05 and its 200-day moving average price is $96.21. Netflix has a 52-week low of $79.95 and a 52-week high of $133.27.
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Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, July 18th. The Internet television network reported $0.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.07. Netflix had a return on equity of 5.59% and a net margin of 1.85%. The firm had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.11 billion. During the same period in the previous year, the firm posted $0.06 earnings per share. The business’s revenue was up 19.5% compared to the same quarter last year. On average, equities analysts anticipate that Netflix will post $0.29 EPS for the current year.
In other Netflix news, Director Jay C. Hoag purchased 600,000 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was bought at an average price of $86.43 per share, with a total value of $51,858,000.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Reed Hastings sold 113,708 shares of the firm’s stock in a transaction that occurred on Monday, June 20th. The shares were sold at an average price of $94.85, for a total transaction of $10,785,203.80. Following the completion of the transaction, the chief executive officer now directly owns 113,708 shares of the company’s stock, valued at approximately $10,785,203.80. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of NFLX. Cornerstone Advisors Inc. boosted its position in shares of Netflix by 25.6% in the second quarter. Cornerstone Advisors Inc. now owns 1,118 shares of the Internet television network’s stock valued at $102,000 after buying an additional 228 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in Netflix during the second quarter valued at about $124,000. Quadrant Capital Group LLC boosted its stake in Netflix by 15.1% in the second quarter. Quadrant Capital Group LLC now owns 1,475 shares of the Internet television network’s stock valued at $126,000 after buying an additional 194 shares during the period. Coconut Grove Bank boosted its stake in Netflix by 1.7% in the second quarter. Coconut Grove Bank now owns 1,526 shares of the Internet television network’s stock valued at $140,000 after buying an additional 26 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its stake in Netflix by 15.3% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,690 shares of the Internet television network’s stock valued at $155,000 after buying an additional 224 shares during the period. 78.43% of the stock is owned by institutional investors.
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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