Netflix (NASDAQ:NFLX) Raised to “Buy” at Rosenblatt Securities

Netflix (NASDAQ:NFLX) was upgraded by analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $1,494.00 target price on the Internet television network’s stock, up from their previous target price of $680.00. Rosenblatt Securities’ target price indicates a potential upside of 71.79% from the company’s current price.

NFLX has been the topic of a number of other research reports. Canaccord Genuity Group boosted their target price on Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a research note on Monday, December 2nd. Oppenheimer cut their price objective on Netflix from $1,065.00 to $1,040.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 15th. TD Cowen raised their target price on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. reduced their price target on shares of Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Finally, Pivotal Research boosted their target price on shares of Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $952.30.

Netflix Stock Up 1.3 %

NFLX stock opened at $869.68 on Wednesday. The stock’s 50 day moving average is $885.64 and its 200-day moving average is $760.81. Netflix has a twelve month low of $479.90 and a twelve month high of $941.75. The firm has a market capitalization of $371.75 billion, a PE ratio of 49.22, a P/E/G ratio of 1.40 and a beta of 1.27. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.11 EPS. Sell-side analysts expect that Netflix will post 19.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider David A. Hyman sold 267 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. This represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the transaction, the director now owns 246 shares in the company, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 152,198 shares of company stock worth $127,616,898 in the last quarter. 1.76% of the stock is owned by insiders.

Institutional Trading of Netflix

A number of institutional investors have recently made changes to their positions in NFLX. Stonehage Fleming Financial Services Holdings Ltd raised its holdings in Netflix by 74,206.2% during the 4th quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 167,189 shares of the Internet television network’s stock valued at $149,019,000 after buying an additional 166,964 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Netflix by 285.4% during the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 185 shares of the Internet television network’s stock valued at $165,000 after acquiring an additional 137 shares during the last quarter. M3 Advisory Group LLC boosted its holdings in shares of Netflix by 2.0% during the fourth quarter. M3 Advisory Group LLC now owns 753 shares of the Internet television network’s stock worth $671,000 after purchasing an additional 15 shares during the period. Clarendon Private LLC bought a new stake in shares of Netflix in the fourth quarter worth about $664,000. Finally, Marshall Financial Group LLC increased its holdings in Netflix by 4.5% during the 4th quarter. Marshall Financial Group LLC now owns 3,436 shares of the Internet television network’s stock valued at $3,063,000 after purchasing an additional 147 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.