Netflix's subscribers are surging as it blows away Wall Street's expectations

Joan Terry
July 17, 2017

The rating was downgraded by Goldman Sachs to "Neutral" on Friday, November 13.

Netflix (NASDAQ:NFLX) traded down 0.584% during midday trading on Thursday, reaching $160.179. The firm owned 9,384 shares of the Internet television network's stock after buying an additional 3,126 shares during the period.

In terms of penetration, Netflix is available in 40% of Wi-Fi-equipped households, with YouTube running in second place with about 30% penetration.

Institutional investors have recently bought and sold shares of the company. FMR LLC now owns 21,027,506 shares of the Internet television network's stock valued at $3,108,076,000 after buying an additional 1,305,294 shares in the last quarter.

Even though its subscriber additions disappointed last quarter, Netflix was able to swing to a surprise profit in its worldwide segment. Fred Alger Management Inc. now owns 263,967 shares of the Internet television network's stock valued at $32,679,000 after buying an additional 122,134 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Netflix by 13.8% in the fourth quarter. Netflix has a one year low of $84.50 and a one year high of $166.87.

Netflix (NASDAQ:NFLX) opened at 161.12 on Friday. The stock has "Buy" rating by BMO Capital Markets on Tuesday, June 6. Vestor Capital Llc who had been investing in Abbott Laboratories for a number of months, seems to be less bullish one the $86.34B market cap company.

After a recent look, shares have been seen 17.34% from the 200-day moving average, and 2.88% from the 50-day moving average.

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Analysts are looking for second-quarter earnings of $0.16 per share on revenue of $2.76 billion.

The company said on Monday it added 4.14 million subscribers internationally in the quarter ended June 30, compared with the average analyst estimate of 2.59 million, according to data from analytics firm FactSet. Netflix had a return on equity of 12.73% and a net margin of 3.55%. Netflix's revenue for the quarter was up 34.7% compared to the same quarter past year.

Q2 EPS (GAAP): $0.15 per share versus Wall Street expectations of $0.16.

Three out of four US households that view streaming video content use Netflix Inc. Amp Investors Ltd reported 0.11% of its portfolio in Netflix, Inc. "(NFLX)" was originally posted by BNB Daily and is the property of of BNB Daily. If you are accessing this news story on another domain, it was copied illegally and reposted in violation of USA & global trademark & copyright laws. Jennison Associates LLC raised its stake in Netflix by 21.4% in the first quarter.

In other news, Director Richard N. Barton sold 2,000 shares of the stock in a transaction dated Wednesday, April 19th. Vetr cut Netflix from a "hold" rating to a "sell" rating and set a $137.95 target price for the a research note on Monday, March 20th.

Cowen has a Buy rating with a $170 price target. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Netflix in a research report on Tuesday, April 18th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $190.00 price target on shares of Netflix in a research report on Thursday. Also, Director Richard N. Barton sold 1,000 shares of the stock in a transaction dated Tuesday, April 18th. The shares were sold at an average price of $140.97, for a total value of $12,968,394.18.

Earnings per share (EPS) is the portion of a company's profit allocated to each outstanding share of common stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. United Bank sold 6,316 shares as Merck & Co Inc (MRK)'s stock declined 2.46%. The shares were sold at an average price of $150.02, for a total transaction of $1,036,488.18.

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