Equities research analysts at Barclays Capital (NYSE: BCS) lowered their price target on shares of Netflix (NASDAQ: NFLX) from $260.00 to $125.00 in a research issued note to investors on Tuesday. They currently have an “overweight” rating on the company’s shares.
Separately, analysts at UBS AG (NYSE: UBS) cut their price target on shares of Netflix to $90.00 in a research note to investors on Tuesday. They now have a “neutral” rating on the stock. Analysts at Jefferies cut their price target on shares of Netflix to $90.00 in a research note to investors on Tuesday. They now have a “hold” rating on the stock. Also, analysts at Janney Montgomery Scott downgraded shares of Netflix from a “neutral” rating to a “sell” rating in a research note to investors on Tuesday. They now have a $51.00 price target on the stock, down previously from $102.00.
Netflix, Inc. (Netflix) is an Internet subscription service streaming television shows and movies. The Company’s subscribers can watch unlimited television shows and movies streamed over the Internet to their televisions, computers and mobile devices and in the United States, subscribers can also receive digital versatile discs (DVDs) delivered to their homes. The Company is organized into two operating segments: United States and International. The Company obtains content from various studios and other content providers through fixed-fee licenses, revenue sharing agreements and direct purchases. The Company markets its service through various channels, including online advertising, broad-based media, such as television and radio, as well as various partnerships. In September 2010, the Company began international operations by offering an unlimited streaming plan without DVDs in Canada.
Shares of Netflix traded down 34.76% during mid-day trading on Tuesday, hitting $77.5299. Netflix has a 52 week low of $107.63 and a 52 week high of $304.79. The stock’s 50-day moving average is $140.4 and its 200-day moving average is $223.0. The company has a market cap of $4.073 billion and a price-to-earnings ratio of 30.15.
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