Netflix’s (NFLX) “Market Perform” Rating Reaffirmed at BMO Capital Markets

Netflix, Inc. (NASDAQ:NFLX)‘s stock had its “market perform” rating reiterated by equities research analysts at BMO Capital Markets in a research report issued to clients and investors on Tuesday, July 18th. They currently have a $180.00 price objective on the Internet television network’s stock, up from their previous price objective of $150.00. BMO Capital Markets’ price target would suggest a potential downside of 1.47% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. UBS AG reissued a “buy” rating and issued a $175.00 target price on shares of Netflix in a research note on Wednesday, April 19th. Loop Capital lifted their target price on Netflix from $162.00 to $172.00 and gave the company an “outperform” rating in a research note on Wednesday, April 19th. Needham & Company LLC reissued a “hold” rating on shares of Netflix in a research note on Tuesday, April 18th. Canaccord Genuity reissued a “buy” rating and issued a $165.00 target price on shares of Netflix in a research note on Thursday, May 25th. Finally, William Blair reissued an “outperform” rating on shares of Netflix in a research note on Thursday, May 25th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-nine have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $174.36.

Netflix (NFLX) traded up 1.22% on Tuesday, hitting $184.90. The stock had a trading volume of 4,005,116 shares. Netflix has a 1-year low of $90.50 and a 1-year high of $187.17. The firm’s 50-day moving average price is $161.21 and its 200-day moving average price is $150.32. The firm has a market cap of $79.83 billion, a P/E ratio of 224.94 and a beta of 0.98.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, July 17th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.01. Netflix had a net margin of 3.55% and a return on equity of 12.82%. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same quarter in the previous year, the firm posted $0.09 EPS. The company’s revenue for the quarter was up 32.3% compared to the same quarter last year. On average, equities research analysts predict that Netflix will post $1.17 earnings per share for the current year.

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In other news, CEO Reed Hastings sold 101,815 shares of the company’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $157.13, for a total transaction of $15,998,190.95. Following the completion of the transaction, the chief executive officer now directly owns 101,815 shares of the company’s stock, valued at $15,998,190.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 2,000 shares of the company’s stock in a transaction dated Thursday, May 11th. The shares were sold at an average price of $159.08, for a total transaction of $318,160.00. Following the transaction, the director now directly owns 7,082 shares of the company’s stock, valued at $1,126,604.56. The disclosure for this sale can be found here. Insiders sold 433,801 shares of company stock valued at $71,702,221 over the last three months. 4.90% of the stock is currently owned by insiders.

Institutional investors have recently made changes to their positions in the stock. Supplemental Annuity Collective Trust of NJ bought a new position in shares of Netflix during the second quarter valued at about $747,000. State of New Jersey Common Pension Fund D boosted its position in shares of Netflix by 500.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 360,000 shares of the Internet television network’s stock valued at $53,788,000 after buying an additional 300,000 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Netflix by 119.6% in the second quarter. Bessemer Group Inc. now owns 4,987 shares of the Internet television network’s stock valued at $745,000 after buying an additional 2,716 shares in the last quarter. Nwam LLC bought a new position in shares of Netflix during the second quarter valued at about $292,000. Finally, CIBC Asset Management Inc boosted its position in shares of Netflix by 3.2% in the second quarter. CIBC Asset Management Inc now owns 54,300 shares of the Internet television network’s stock valued at $8,113,000 after buying an additional 1,682 shares in the last quarter. Institutional investors own 82.82% of the company’s stock.

Netflix Company Profile

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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