Netflix Shares Tank After Earnings Miss

This resulted in a surprise factor of 20%, or $0.01 away from the latest Zacks consensus estimates just prior to the earnings announcement. Wedbush’s price target suggests a potential downside of 63.71% from the company’s previous close. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Netflix (NASDAQ:NFLX) saw an uptick in trading volume on Wednesday after Vetr upgraded the stock from a hold rating to a buy rating, Marketbeat.com reports.

A number of research analysts recently commented on the company. Barclays reiterated an “equal weight” rating and issued a $115.00 price objective on shares of Netflix in a research report on Thursday, July 16th.

In other Netflix news, insider Gregory K. Peters sold 14,070 shares of the company’s stock in a transaction on Thursday, July 16th. Also, Director Richard N. Barton sold 2,800 shares of the firm’s stock in a transaction dated Friday, August 14th. (NASDAQ:NFLX) traded up 0.46% on Wednesday, hitting $110.23. The stock’s 50-day moving average price is $104.72 and its 200-day moving average price is $96.06. Topeka Capital Markets increased their target price on Netflix from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Wednesday, July 15th. The lowest analyst price target has the stock at $40 within the next 12 months.

The streaming video company, Netflix Inc. The stock was sold at an average price of $111.68, for a total transaction of $1,571,337.60. The company has a market cap of $46.60 billion and a P/E ratio of 246.19.

The recent earnings-miss may seem like a red alert on Netflix’s position, let’s not forget about its aggressive expansion, which the company has been carrying out globally. In the past four quarters, the share price has moved 18% on average the very first trading day, after the earnings were released. Following the completion of the transaction, the director now directly owns 44,862 shares in the company, valued at approximately $4,535,996.82. The disclosure for this sale can be found here.

Netflix, Inc. (NASDAQ:NFLX) has witnessed a rise of 0.5% or 198,965 shares in its short figure. The online streaming giant had $0.07 in earnings per share (EPS) on $1.74 billion in revenue compared to consensus estimates from Thomson Reuters that called for $0.08 in EPS on $1.75 billion in revenue. Its members can see greater than two billion hours of television (NASDAQ:NFLX) shows and pictures per month, including original series, documentaries and feature films on Internet-connected screen. The Organization has three operating segments: global streaming, Domestic streaming and Domestic DVD. Its members can play, pause and resume viewing, all without commitments or advertisements. In the United States, the Company’s subscribers can receive standard definition digital versatile disc (DVDs), and their high definition successor, Blu-ray discs (collectively DVD), delivered quickly to their homes.

Peck has raised his 2015 and 2016 revenue and EBITDA estimates for the company to reflect “flow-through of price increases partly offset by lower domestic paid members”.