Netflix (NASDAQ:NFLX) Raised to “Buy” at StockNews.com

StockNews.com upgraded shares of Netflix (NASDAQ:NFLX) from a hold rating to a buy rating in a research report report published on Sunday morning.

A number of other equities analysts have also commented on NFLX. Redburn Atlantic raised their price objective on shares of Netflix from $740.00 to $760.00 and gave the company a buy rating in a research report on Friday, July 19th. Citigroup lifted their target price on shares of Netflix from $660.00 to $675.00 and gave the company a neutral rating in a research report on Monday, July 22nd. KeyCorp lifted their target price on shares of Netflix from $707.00 to $735.00 and gave the company an overweight rating in a research report on Wednesday, July 10th. Wedbush reiterated an outperform rating and set a $725.00 target price on shares of Netflix in a research report on Monday, May 20th. Finally, Jefferies Financial Group lifted their target price on shares of Netflix from $655.00 to $780.00 and gave the company a buy rating in a research report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus target price of $685.29.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $690.47 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $297.59 billion, a PE ratio of 47.92, a P/E/G ratio of 1.40 and a beta of 1.26. Netflix has a twelve month low of $344.73 and a twelve month high of $711.33. The company has a 50-day moving average price of $660.90 and a two-hundred day moving average price of $639.51.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same period last year, the business earned $3.29 earnings per share. Netflix’s revenue was up 16.8% compared to the same quarter last year. Equities analysts forecast that Netflix will post 19.08 EPS for the current year.

Insider Activity

In other news, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the sale, the chairman now owns 57 shares in the company, valued at approximately $38,217.93. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $687.07, for a total value of $30,059,312.50. Following the transaction, the director now owns 95,040 shares in the company, valued at approximately $65,299,132.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the transaction, the chairman now owns 57 shares in the company, valued at approximately $38,217.93. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 196,798 shares of company stock worth $129,552,672. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Hedge funds have recently bought and sold shares of the company. M&G Plc bought a new position in Netflix in the 1st quarter worth about $9,682,000. BSN CAPITAL PARTNERS Ltd raised its position in Netflix by 24.4% in the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock worth $155,185,000 after buying an additional 49,000 shares during the last quarter. Scarborough Advisors LLC purchased a new position in Netflix in the 4th quarter worth about $9,513,000. Scotia Capital Inc. raised its position in Netflix by 9.1% in the 4th quarter. Scotia Capital Inc. now owns 25,351 shares of the Internet television network’s stock worth $12,343,000 after buying an additional 2,110 shares during the last quarter. Finally, Focus Financial Network Inc. ADV purchased a new position in Netflix in the 4th quarter worth about $3,700,000. Institutional investors own 80.93% of the company’s stock.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.