Netflix (NASDAQ:NFLX) Earns Buy Rating from Needham & Company LLC
Needham & Company LLC has reaffirmed a "buy" rating for Netflix (NASDAQ:NFLX) with a target price of $1,126.00, indicating a potential upside of 17.09%. Other analysts have also upgraded their ratings, with a consensus rating of "Moderate Buy" and a target price of $1,020.63. Netflix's stock opened at $961.63, with a one-year high of $1,064.50. The company reported a quarterly EPS of $4.27, exceeding estimates, and a revenue of $10.25 billion, up 16% year-over-year. Insider selling activity has been noted, with significant shares sold in recent months.
Netflix (NASDAQ:NFLX - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $1,126.00 target price on the Internet television network's stock. Needham & Company LLC's target price would suggest a potential upside of 17.09% from the stock's current price.
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A number of other equities research analysts have also recently weighed in on NFLX. Arete Research upgraded Netflix to a "hold" rating in a research note on Thursday, January 23rd. Sanford C. Bernstein upgraded shares of Netflix from a "market perform" rating to an "outperform" rating and raised their price target for the company from $975.00 to $1,200.00 in a report on Friday, January 24th. Guggenheim reiterated a "buy" rating and set a $1,100.00 price objective on shares of Netflix in a research note on Thursday, April 3rd. Argus raised their target price on shares of Netflix from $840.00 to $1,040.00 and gave the company a "buy" rating in a research note on Monday, January 6th. Finally, Wolfe Research raised Netflix from a "peer perform" rating to an "outperform" rating and set a $1,100.00 price target on the stock in a research report on Thursday, January 23rd. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Netflix presently has a consensus rating of "Moderate Buy" and a consensus price target of $1,020.63.
View Our Latest Stock Report on NFLX
Netflix Trading Down 1.5 %
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NASDAQ NFLX opened at $961.63 on Thursday. Netflix has a one year low of $542.01 and a one year high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The company has a market capitalization of $411.34 billion, a price-to-earnings ratio of 48.49, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. The company's 50-day simple moving average is $956.66 and its two-hundred day simple moving average is $888.16.
Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts' consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. Netflix's revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.11 earnings per share. Equities analysts forecast that Netflix will post 24.58 EPS for the current fiscal year.
Insider Activity at Netflix
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In other news, Director Jay C. Hoag sold 617 shares of the company's stock in a transaction that occurred on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of Netflix stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. Insiders sold a total of 274,312 shares of company stock worth $267,919,297 in the last 90 days. Corporate insiders own 1.76% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Brown Shipley& Co Ltd acquired a new position in shares of Netflix during the fourth quarter valued at approximately $27,000. Pathway Financial Advisers LLC boosted its stake in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after purchasing an additional 14 shares during the last quarter. Transce3nd LLC acquired a new stake in Netflix during the 4th quarter worth $32,000. Newton One Investments LLC purchased a new stake in shares of Netflix during the fourth quarter worth $34,000. Finally, Pineridge Advisors LLC raised its position in shares of Netflix by 4,000.0% in the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock valued at $37,000 after buying an additional 40 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.
About Netflix
(Get Free Report)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.
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