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

Netflix (NASDAQ:NFLX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Sunday.

NFLX has been the subject of a number of other research reports. Morgan Stanley increased their target price on shares of Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a research report on Monday, July 15th. Needham & Company LLC reiterated a “buy” rating and set a $700.00 price objective on shares of Netflix in a research note on Friday, July 19th. Loop Capital boosted their target price on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. JPMorgan Chase & Co. increased their price target on Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, July 12th. Finally, TD Cowen boosted their price objective on Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. One equities 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $685.29.

Netflix Trading Up 1.5 %

Netflix stock opened at $697.06 on Friday. The firm has a 50-day moving average price of $660.00 and a two-hundred day moving average price of $637.59. Netflix has a 52-week low of $344.73 and a 52-week high of $711.33. The firm has a market capitalization of $299.16 billion, a price-to-earnings ratio of 48.37, a PEG ratio of 1.40 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

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

Insider Buying and Selling

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $38,217.93. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. Over the last three months, insiders sold 196,798 shares of company stock worth $129,552,672. 1.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of NFLX. M&G Plc acquired a new stake in Netflix in the 1st quarter worth approximately $9,682,000. BSN CAPITAL PARTNERS Ltd lifted its stake in shares of Netflix by 24.4% in the first 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 bought a new stake in shares of Netflix during the 4th quarter worth $9,513,000. Scotia Capital Inc. grew its stake in Netflix by 9.1% in the 4th quarter. Scotia Capital Inc. now owns 25,351 shares of the Internet television network’s stock valued at $12,343,000 after buying an additional 2,110 shares during the last quarter. Finally, Focus Financial Network Inc. ADV bought a new position in Netflix in the 4th quarter worth $3,700,000. Institutional investors and hedge funds 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.