Netflix’s (NFLX) Buy Rating Reaffirmed at Piper Jaffray Companies

Piper Jaffray Companies reissued their buy rating on shares of Netflix, Inc. (NASDAQ:NFLX) in a report published on Monday. They currently have a $215.00 price objective on the Internet television network’s stock.

A number of other research analysts also recently issued reports on NFLX. Jefferies Group LLC reiterated a hold rating and set a $141.00 price objective on shares of Netflix in a report on Monday, May 22nd. Loop Capital reiterated a buy rating and set a $180.00 price objective (up from $172.00) on shares of Netflix in a report on Tuesday, May 23rd. Canaccord Genuity reiterated a buy rating and set a $165.00 price objective on shares of Netflix in a report on Thursday, May 25th. William Blair reiterated an outperform rating on shares of Netflix in a report on Thursday, May 25th. Finally, Vetr downgraded Netflix from a buy rating to a hold rating and set a $166.13 price objective for the company. in a report on Thursday, May 25th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and twenty-seven have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $178.64.

Shares of Netflix (NFLX) opened at 184.62 on Monday. The firm has a market capitalization of $79.71 billion, a price-to-earnings ratio of 224.60 and a beta of 1.05. Netflix has a one year low of $93.26 and a one year high of $191.50. The stock’s 50 day moving average price is $175.16 and its 200 day moving average price is $159.72.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.01). The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.76 billion. Netflix had a return on equity of 12.82% and a net margin of 3.55%. The firm’s quarterly revenue was up 32.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.09 earnings per share. Analysts expect that Netflix will post $1.19 EPS for the current fiscal year.

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In other news, CEO Reed Hastings sold 109,214 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $188.61, for a total value of $20,598,852.54. Following the completion of the transaction, the chief executive officer now directly owns 109,214 shares of the company’s stock, valued at $20,598,852.54. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Gregory K. Peters sold 12,768 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $177.38, for a total value of $2,264,787.84. Following the completion of the transaction, the insider now directly owns 19,208 shares of the company’s stock, valued at $3,407,115.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 233,858 shares of company stock valued at $41,580,973. 4.90% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Netflix by 2.9% in the second quarter. Vanguard Group Inc. now owns 27,950,272 shares of the Internet television network’s stock valued at $4,176,049,000 after purchasing an additional 789,190 shares during the last quarter. BlackRock Inc. lifted its stake in Netflix by 1.7% in the second quarter. BlackRock Inc. now owns 25,663,728 shares of the Internet television network’s stock valued at $3,834,416,000 after purchasing an additional 423,968 shares during the last quarter. FMR LLC lifted its stake in Netflix by 12.4% in the second quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock valued at $3,531,042,000 after purchasing an additional 2,605,731 shares during the last quarter. State Street Corp lifted its stake in Netflix by 2.7% in the first quarter. State Street Corp now owns 17,535,737 shares of the Internet television network’s stock valued at $2,591,946,000 after purchasing an additional 463,143 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in Netflix by 14.0% in the second quarter. Jennison Associates LLC now owns 14,784,089 shares of the Internet television network’s stock valued at $2,208,891,000 after purchasing an additional 1,814,056 shares during the last quarter. Institutional investors and hedge funds own 81.03% of the company’s stock.

About Netflix

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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