Netflix, Inc. (NASDAQ:NFLX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage currently has a $219.00 target price on the Internet television network’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.60% from the company’s current price.
According to Zacks, “Netflix’s growing subscriber base is the primary factor that helps it generate significant revenues. The company’s investments in regional programming help it to draw more international subscribers. The company remains confident of adding more subscribers as the trend of binge viewing is catching up fast. Netflix now has 109.3 million subscribers globally. We believe continuing subscriber addition and expanding content portfolio are the key catalysts that will help Netflix to sustain growth going forward. In the past one year, Netflix shares have vastly outperformed the industry. However, higher investments on original/acquired content will continue to hurt profitability, at least in the near term. Stringent competition from other well-established players also poses a major concern.”
Several other research firms have also weighed in on NFLX. Vetr lowered Netflix from a “hold” rating to a “sell” rating and set a $165.09 price objective for the company. in a research note on Wednesday, August 30th. Robert W. Baird reissued a “hold” rating and set a $175.00 price objective on shares of Netflix in a research note on Friday, September 1st. Jefferies Group LLC set a $165.00 price objective on Netflix and gave the stock a “neutral” rating in a research note on Monday, September 18th. KeyCorp reissued a “buy” rating and set a $190.00 price objective on shares of Netflix in a research note on Friday, August 25th. Finally, MKM Partners raised their price objective on Netflix from $195.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, eighteen have issued a hold rating and thirty-two have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $207.20.
Shares of Netflix (NFLX) opened at $196.23 on Monday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.47. The stock has a market capitalization of $83,993.11, a P/E ratio of 196.06, a price-to-earnings-growth ratio of 5.77 and a beta of 1.39. Netflix has a one year low of $113.95 and a one year high of $204.38.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, October 16th. The Internet television network reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). Netflix had a return on equity of 14.56% and a net margin of 4.04%. The company had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the previous year, the company posted $0.12 earnings per share. The firm’s revenue for the quarter was up 30.3% compared to the same quarter last year. equities research analysts expect that Netflix will post 1.26 EPS for the current fiscal year.
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In other Netflix news, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $165.72, for a total transaction of $331,440.00. Following the completion of the sale, the director now owns 8,012 shares in the company, valued at approximately $1,327,748.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $173.62, for a total transaction of $173,620.00. Following the sale, the director now owns 8,012 shares of the company’s stock, valued at approximately $1,391,043.44. The disclosure for this sale can be found here. Insiders have sold a total of 251,692 shares of company stock valued at $48,268,234 in the last quarter. Corporate insiders own 4.90% of the company’s stock.
Several institutional investors have recently modified their holdings of NFLX. Balentine LLC grew its holdings in shares of Netflix by 1,020.4% in the 3rd quarter. Balentine LLC now owns 549 shares of the Internet television network’s stock valued at $100,000 after buying an additional 500 shares during the period. Almanack Investment Partners LLC. acquired a new position in shares of Netflix in the 2nd quarter valued at $101,000. Appropriate Balance Financial Services Inc. grew its holdings in shares of Netflix by 5.6% in the 2nd quarter. Appropriate Balance Financial Services Inc. now owns 702 shares of the Internet television network’s stock valued at $4,701,000 after buying an additional 37 shares during the period. Aviance Capital Management LLC acquired a new position in shares of Netflix in the 2nd quarter valued at $137,000. Finally, Captrust Financial Advisors acquired a new position in shares of Netflix in the 2nd quarter valued at $139,000. Institutional investors own 80.32% of the company’s stock.
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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