Netflix (NASDAQ:NFLX) Rating Increased to Buy at StockNews.com

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

Several other equities research analysts have also issued reports on the company. Bank of America lifted their price objective on Netflix from $700.00 to $740.00 and gave the company a buy rating in a research note on Monday, July 15th. China Renaissance initiated coverage on shares of Netflix in a research note on Thursday, September 5th. They issued a hold rating and a $680.00 target price on the stock. Evercore ISI lifted their target price on shares of Netflix from $710.00 to $750.00 and gave the company an outperform rating in a research report on Tuesday, August 27th. Benchmark increased their price target on shares of Netflix from $450.00 to $545.00 and gave the stock a sell rating in a report on Tuesday, July 16th. Finally, Argus upped their target price on shares of Netflix from $660.00 to $767.00 and gave the stock a buy rating in a research report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix presently has an average rating of Moderate Buy and a consensus price target of $685.29.

Netflix Stock Performance

Shares of NFLX opened at $711.43 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $306.63 billion, a price-to-earnings ratio of 49.37, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. Netflix has a 52-week low of $344.73 and a 52-week high of $725.26. The stock’s 50-day simple moving average is $666.77 and its 200 day simple moving average is $643.21.

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. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the business earned $3.29 earnings per share. Research analysts forecast that Netflix will post 19.08 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Insiders have sold a total of 202,020 shares of company stock worth $133,334,342 over the last quarter. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently modified their holdings of the business. Denver PWM LLC purchased a new stake in Netflix in the second quarter worth about $25,000. Valued Wealth Advisors LLC boosted its position in shares of Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares in the last quarter. Proffitt & Goodson Inc. boosted its position in shares of Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares in the last quarter. AlphaMark Advisors LLC grew its stake in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after buying an additional 45 shares during the last quarter. Finally, Indiana Trust & Investment Management CO increased its position in Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Company Profile

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.