Netflix (NFLX) was Reiterated by Wedbush to “Underperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 50 from a previous price target of $45 . Wedbush advised their investors in a research report released on Jul 19, 2016.
Many Wall Street Analysts have commented on Netflix. Shares were Reiterated by Mizuho on Jul 19, 2016 to “Neutral” and Lowered the Price Target to $ 90 from a previous price target of $109 .Shares were Reiterated by FBR Capital on Jul 19, 2016 to “Mkt Perform” and Lowered the Price Target to $ 90 from a previous price target of $104 .Shares were Reiterated by Pivotal Research Group on Jul 19, 2016 to “Buy” and Lowered the Price Target to $ 125 from a previous price target of $145 .
On the company’s financial health, Netflix reported $0.09 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 18, 2016. Analyst had a consensus of $0.02. The company had revenue of $1966.00 million for the quarter, compared to analysts expectations of $2109.96 million. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS.
Netflix opened for trading at $98.43 and hit $99.84 on the upside on Monday, eventually ending the session at $98.81, with a gain of 0.43% or 0.42 points. The heightened volatility saw the trading volume jump to 2,86,69,659 shares. Company has a market cap of $42,319 M.
In a different news, on Jul 13, 2016, Richard N Barton (director) sold 1,400 shares at $95.63 per share price. According to the SEC, on Jun 22, 2016, Reed Hastings (CEO) sold 113,708 shares at $95.04 per share price. On Apr 25, 2016, Timothy M Haley (director) sold 16,172 shares at $96.43 per share price, according to the Form-4 filing with the securities and exchange commission.
Netflix Inc. is a provider of Internet television network. The Company has over 57 million streaming members in over 50 countries. Its members can watch more than two billion hours of television (TV) shows and movies per month including original series documentaries and feature films on Internet-connected screen. The Company has three operating segments: Domestic streaming International streaming and Domestic DVD. The Domestic and International streaming segments derive revenues from monthly membership fees for services consisting of streaming content. The Domestic DVD segment derives revenues from monthly membership fees for services consisting of DVD-by-mail. Its members can play pause and resume watching all without commercials or commitments. Additionally in the United States its members can receive DVDs to their homes. The Company offers streaming service both domestically and internationally.