Netflix (NFLX) is Downgraded by Macquarie to Underperform

Netflix (NFLX) was Downgraded by Macquarie to ” Underperform”. Earlier the firm had a rating of “Neutral ” on the company shares. Macquarie advised their investors in a research report released on Sep 13, 2016.

Many Wall Street Analysts have commented on Netflix. Axiom Capital Initiated Netflix on Aug 29, 2016 to “Sell”, Price Target of the shares are set at $80.Netflix was Upgraded by William Blair to ” Outperform” on Aug 25, 2016. Shares were Reiterated by MKM Partners on Jul 20, 2016 to “Buy” and Lowered the Price Target to $ 130 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 $95.91 and hit $99.29 on the upside on Monday, eventually ending the session at $99.05, with a gain of 2.64% or 2.55 points. The heightened volatility saw the trading volume jump to 7,718,351 shares. Company has a market cap of $42,465 M.

In a different news, on Sep 8, 2016, Richard N Barton (director) sold 6,300 shares at $100.00 per share price. According to the SEC, on Aug 23, 2016, Reed Hastings (CEO) sold 102,340 shares at $95.21 per share price. On Aug 10, 2016, Jay C Hoag (director) purchased 300,000 shares at $94.29 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.


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