While many investors seemed a bit nervous about today’s release of Netflix’s . (NASDAQ:NFLX) 2015 fourth quarter earnings, it appears that the company is doing better than even some of the more optimistic analysts had predicted.
Moments ago Netflix, Inc. (NASDAQ:NFLX) announced their fourth quarter earnings, beating analyst estimates for EPS by 5 cents, reporting an EPS of 7 cents. Additionally, the company increased their revenue for the quarter substantially over the last year, reporting $1.82 billion versus $1.49 billion in the year prior. This figure was slightly lower than the $1.83 billion in revenue that analysts had been forecasting. Netflix, Inc. (NASDAQ:NFLX) added a total of 5.59 million new subscribers in quarter four, which surpassed last year’s same-quarter subscriber growth of 4.33 million considerably.
The market seems to be optimistic about this latest report as shares of Netflix, Inc. (NASDAQ:NFLX) are trading up $8.22 or 7.62% in the after hours. The stock increased 3.70% or $3.85 during the last trading session, hitting $107.89. About 30.60 million shares traded hands or up 79.26% from the average. NFLX has risen 10.19% since June 12, 2015 and is currently uptrending. It has outperformed the S&P500 by 19.06%.
From a total of 27 analysts covering Netflix (NASDAQ:NFLX) stock, 21 rate it a “Buy”, 0 a “Sell”, and 6 a “Hold”. This means that 78% of the ratings are positive. The highest target price is $175 while the lowest target price is $72. The mean of all analyst targets is $132.33 which is 22.65% above today’s ($107.89) stock price. Netflix was the topic of 40 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Drexel Hamilton initiated shares on January 14 with a “Buy” rating. Credit Suisse maintained shares with a”Neutral” rating and a $124 target share price in their report from an October 15. Robert W. Baird downgraded NFLX stock in a recent report from January 4 to a “Neutral” rating. JP Morgan maintained the rating on October 15. JP Morgan has a “Overweight” rating and a $137 price target on shares. Finally, FBR Capital maintained the stock with a “Outperform” rating in a report they issued on an October 15.
The institutional sentiment increased to 1.54 in Q2 2015. It’s up 0.29, from 1.25 in 2015Q2. The ratio increased, as 58 funds sold all their Netflix, Inc. shares they owned while 194 reduced their positions. 149 funds bought stakes while 238 increased their total positions. Institutions now own 639.63 million shares which is 1081.93% more than the previous share count of 54.12 million in 2015Q2.
Srs Investment Management Llc holds 40.42% of its total portfolio in Netflix, Inc., equating to 11.81 million shares. Technology Crossover Management Vii Ltd. owns 5.04 million shares representing 34.23% of their total US portfolio. Moreover, Ctc Llc has 33.44% of their total portfolio invested in the company, equating to 645,718 shares. The Pennsylvania-based Barton Investment Management has a total of 29.76% of their portfolio invested in the stock. Tiger Global Management Llc, a New York-based fund reported 18.00 million shares owned.
Since February 25, 2015, the stock had 0 buys, and 15 selling transactions for a total of $56.92 million in net activity. Barton Richard N sold 2,800 shares worth $281,260. Hastings Reed sold 86,037 shares worth $8.68 million. Battle A George sold 49,000 shares worth $5.29M. Cranz Tawni sold 1,512 shares worth $190,179. The insider Peters Gregory K sold 6,545 shares worth $841,491.
Netflix, Inc. is a provider of Internet television network. The company has a market cap of $43.74 billion. The Firm has over 57 million streaming members in over 50 countries. It has 287.69 P/E ratio. The Company’s members can watch more than two billion hours of television shows and movies per month, including original series, documentaries and feature films on Internet-connected screen.