Netflix Receives a New Rating from Top Analyst

Axiom analyst Victor Anthony reiterated a Sell rating on Netflix (NASDAQ: NFLX) today and set a price target of $84. The company’s shares opened today at $116.63.

According to TipRanks.com, Anthony is a top 100 analyst with an average return of 14.5% and a 66.8% success rate. Anthony covers the Technology sector, focusing on stocks such as IAC/InterActiveCorp, Bankrate Inc., and Alibaba Group.

Currently, the analyst consensus on Netflix is Moderate Buy and the average price target is $106, representing a -9.1% downside.

In a report issued on October 10, Deutsche Bank also initiated coverage with a Sell rating on the stock with a $90 price target.

Netflix’s market cap is currently $42.79B and has a P/E ratio of 311.88. The company has a book value ratio of 17.7110.

Based on the recent corporate insider activity of 65 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of NFLX in relation to earlier this year. Most recently, in August 2016, Jay Hoag, a a Director at NFLX bought 300,000 shares for a total of $28,291,000.

Netflix, Inc. operates as an Internet subscription service company, which provides subscription service streaming movies and TV episodes over the Internet and sending DVDs by mail. The company operates its business through the following segments: Domestic streaming, International streaming and Domestic DVD. Netflix obtains content from various studios and other content providers through fixed-fee licenses, revenue sharing agreements and direct purchases. It markets its service through various channels, including online advertising, broad-based media, such as television and radio, as well as various partnerships. Netflix was founded by Marc Randolph and Wilmot Reed Hastings Jr., on August 29, 1997 and is headquartered in Los Gatos, CA.