Netflix, Inc. (NFLX) Earns Hold Rating from SunTrust Banks, Inc.

SunTrust Banks, Inc. reiterated their hold rating on shares of Netflix, Inc. (NASDAQ:NFLX) in a research report released on Thursday morning. They currently have a $175.00 price objective on the Internet television network’s stock.

NFLX has been the subject of several other reports. Instinet reissued a buy rating on shares of Netflix in a report on Friday, June 2nd. Sanford C. Bernstein set a $203.00 price target on shares of Netflix and gave the company a buy rating in a report on Wednesday, August 30th. Canaccord Genuity raised their price target on shares of Netflix from $165.00 to $175.00 and gave the company a buy rating in a report on Friday, June 16th. Morgan Stanley reissued an overweight rating and issued a $185.00 price target (up from $175.00) on shares of Netflix in a report on Thursday, July 13th. Finally, Royal Bank Of Canada reissued an outperform rating and issued a $175.00 price target on shares of Netflix in a report on Friday, June 16th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-seven have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $178.23.

Shares of Netflix (NFLX) traded down 1.44% on Thursday, reaching $176.42. 4,590,846 shares of the company’s stock traded hands. The company’s 50-day moving average price is $175.71 and its 200 day moving average price is $157.73. Netflix has a one year low of $93.26 and a one year high of $191.50. The firm has a market cap of $76.17 billion, a P/E ratio of 214.62 and a beta of 1.05.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, July 17th. The Internet television network reported $0.15 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 firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.76 billion. During the same period in the previous year, the business earned $0.09 earnings per share. The firm’s revenue for the quarter was up 32.3% on a year-over-year basis. On average, equities analysts forecast that Netflix will post $1.19 EPS for the current fiscal year.

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In related news, insider Gregory K. Peters sold 12,768 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $177.38, for a total transaction of $2,264,787.84. Following the completion of the transaction, the insider now owns 19,208 shares in the company, valued at $3,407,115.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Reed Hastings sold 115,577 shares of the company’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $152.63, for a total transaction of $17,640,517.51. Following the transaction, the chief executive officer now owns 115,577 shares of the company’s stock, valued at approximately $17,640,517.51. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 349,435 shares of company stock valued at $59,221,491. 4.90% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of NFLX. FMR LLC boosted its position in shares of Netflix by 12.4% during the second quarter. FMR LLC now owns 23,633,237 shares of the Internet television network’s stock worth $3,531,042,000 after acquiring an additional 2,605,731 shares during the last quarter. Janus Henderson Group PLC lifted its position in Netflix by 3,478.1% during the second quarter. Janus Henderson Group PLC now owns 2,041,458 shares of the Internet television network’s stock valued at $305,014,000 after purchasing an additional 1,984,404 shares during the last quarter. Jennison Associates LLC lifted its position in Netflix by 14.0% during 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. Vanguard Group Inc. lifted its position in Netflix by 3.5% during the first quarter. Vanguard Group Inc. now owns 27,161,082 shares of the Internet television network’s stock valued at $4,014,680,000 after purchasing an additional 921,283 shares during the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its position in Netflix by 22,622.2% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 814,592 shares of the Internet television network’s stock valued at $121,708,000 after purchasing an additional 811,007 shares during the last quarter. Hedge funds and other institutional investors own 81.05% 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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