Netflix (NFLX) was Initiated by Deutsche Bank to “Sell” and the brokerage firm has set the Price Target at $90. Deutsche Bank advised their investors in a research report released on Oct 10, 2016.
Many Wall Street Analysts have commented on Netflix. Company shares were Reiterated by JP Morgan on Sep 27, 2016 to “Overweight”, Firm has raised the Price Target to $ 125 from a previous price target of $116 .Netflix was Downgraded by Macquarie to ” Underperform” on Sep 13, 2016. Axiom Capital Initiated Netflix on Aug 29, 2016 to “Sell”, Price Target of the shares are set at $80.
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 closed down -0.25 points or -0.24% at $104.82 with 86,59,518 shares getting traded on Friday. Post opening the session at $103.98, the shares hit an intraday low of $103.5501 and an intraday high of $106.5 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on Oct 6, 2016, Richard N Barton (director) sold 2,800 shares at $104.01 per share price. According to the SEC, on Sep 21, 2016, Reed Hastings (CEO) sold 84,665 shares at $98.62 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.