Shares of Netflix, Inc. (NASDAQ:NFLX) stock are trading up over 3% in the pre-market this morning, even as Google (NASDAQ:GOOG) is set to release their biggest push yet to challenge the streaming video service. Netflix has been met with a lot of competition lately, from the likes of Amazon, to Hulu, Apple and even Cable TV providers. However, with Google’s latest push, they may have their hands full.
That’s right, as many of us know, Google’s Youtube Red subscription service launched late last year, but now the company is ready to push forward with the service. They will be doing so by releasing three YouTube-exclusive movies as well as a new TV series, as part of their $9.99 per mounth ad-fee service.
“YouTube is faced with competitors like never before,” says Peter Csathy, CEO of Manatt Digital Media. “But we’ve always thought of YouTube as free. How many of the hardcore audience will be willing to pay subscription pricing? That’s going to be challenging, giving YouTube’s demographics.”
YouTube already has a huge viewership, so it will be interesting to see if they can make the move into the world of paid video services. If they can, Google will be sitting pretty once again as far as revenue generation goes, and Netflix, Inc. (NASDAQ:NFLX) could have their hands full.
The stock closed at $86.13 during the last trading session. It is down 8.46% since July 7, 2015 and is downtrending. It has outperformed the S&P500 by 1.01%.
From a total of 30 analysts covering Netflix (NASDAQ:NFLX) stock, 22 rate it a “Buy”, 1 a “Sell”, and 7 a “Hold”. This means that 73% of the ratings are positive. The highest target price is $175 while the lowest target price is $45.0. The mean of all analyst targets is $126.76 which is 47.17% above today’s ($86.13) stock price. Netflix was the topic of 48 analyst reports since August 4, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray upgraded shares on February 2 to a “Overweight” rating. Drexel Hamilton initiated shares with a”Buy” rating and a $150.0 target share price in their report from a January 14. Wedbush maintained NFLX stock in a recent report from January 20 with a “Underperform” rating. Robert W. Baird downgraded the rating on January 4. Robert W. Baird has a “Neutral” rating and a $115 price target on shares. Finally, Pivotal Research maintained the stock with a “Buy” rating in a report they issued on a January 20.
The institutional sentiment increased to 1.54 in Q2 2015. It’s up 0.29, from 1.25 in 2015Q2. The ratio improved, 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 11 sales for a total of $32.60 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 $5.29 million. 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 $38.11 billion. The Firm has over 57 million streaming members in over 50 countries. It has 306.74 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.