Rosenblatt Securities reiterated their neutral rating on shares of Netflix (NASDAQ:NFLX) in a research report report published on Wednesday morning, AnalystRatings.com reports. Rosenblatt Securities currently has a $370.00 target price on the Internet television network’s stock, up from their prior target price of $350.00.
“We increase our price target to $370 driven by a higher implied target multiple and slightly higher international estimates. Pivoting to churn reduction content strategy as domestic scale reached and content competition intensifies. The primary driver of gross adds to SVOD services is first run, high quality original series. NFLX has been successful in this category, most recently by reporting 41M HH watching Stranger Things season 3 in the first five days of launch. However, binge watching drives the need to create even more content. In order to fill the time between original series NFLX has increasingly focused on individual originals like comedy specials, documentaries and movies.”,” the firm’s analyst commented.
Other research analysts have also issued reports about the stock. Barclays reaffirmed a buy rating on shares of Netflix in a research note on Thursday, May 16th. BidaskClub lowered shares of Walgreens Boots Alliance from a sell rating to a strong sell rating in a research note on Monday, June 24th. Loop Capital initiated coverage on shares of TENCENT HOLDING/ADR in a research note on Monday, June 3rd. They issued a buy rating on the stock. Deutsche Bank lowered shares of J B Hunt Transport Services from a buy rating to a sell rating and set a $98.51 price target on the stock. in a research note on Wednesday, April 17th. Finally, SunTrust Banks reaffirmed a buy rating on shares of Netflix in a research note on Friday, April 12th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company. Netflix currently has a consensus rating of Buy and an average target price of $393.24.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.19. The firm had revenue of $4.52 billion for the quarter, compared to analyst estimates of $4.50 billion. Netflix had a net margin of 7.61% and a return on equity of 24.75%. Netflix’s quarterly revenue was up 22.2% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. As a group, equities research analysts expect that Netflix will post 3.35 earnings per share for the current year.
In other news, CEO Reed Hastings sold 57,414 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $348.88, for a total transaction of $20,030,596.32. Following the completion of the sale, the chief executive officer now owns 57,414 shares in the company, valued at approximately $20,030,596.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ann Mather sold 1,208 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $375.00, for a total transaction of $453,000.00. Following the sale, the director now owns 357 shares of the company’s stock, valued at approximately $133,875. The disclosure for this sale can be found here. Insiders have sold a total of 167,486 shares of company stock valued at $60,955,416 in the last 90 days. Insiders own 4.29% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. TCG Advisors LP acquired a new stake in shares of Netflix during the 1st quarter worth approximately $36,000. Clarfeld Financial Advisors LLC acquired a new stake in Netflix in the 4th quarter valued at approximately $27,000. Thompson Siegel & Walmsley LLC increased its holdings in Netflix by 182.0% in the 1st quarter. Thompson Siegel & Walmsley LLC now owns 141 shares of the Internet television network’s stock valued at $50,000 after purchasing an additional 91 shares during the last quarter. Osborn Williams & Donohoe LLC acquired a new stake in Netflix in the 1st quarter valued at approximately $55,000. Finally, Shamrock Asset Management LLC acquired a new stake in Netflix in the 1st quarter valued at approximately $53,000. Institutional investors and hedge funds own 77.02% of the company’s stock.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.
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