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

Netflix (NASDAQ:NFLX) was upgraded by Rosenblatt Securities from a “neutral” rating to a “buy” rating in a report issued on Wednesday, Marketbeat Ratings reports. The firm presently has a $1,494.00 price target on the Internet television network’s stock, up from their prior price target of $680.00. Rosenblatt Securities’ target price would indicate a potential upside of 51.70% from the company’s previous close.

Several other research firms have also recently weighed in on NFLX. Macquarie raised their target price on shares of Netflix from $795.00 to $965.00 and gave the company an “outperform” rating in a research note on Monday, January 13th. Needham & Company LLC boosted their price objective on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Argus upped their price objective on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Benchmark lifted their target price on Netflix from $555.00 to $720.00 and gave the stock a “sell” rating in a research note on Friday, January 3rd. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $996.94.

Netflix Stock Up 3.2 %

Netflix stock opened at $984.86 on Wednesday. The company has a fifty day simple moving average of $889.11 and a 200 day simple moving average of $763.41. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix has a 1-year low of $537.07 and a 1-year high of $999.00. The company has a market cap of $420.99 billion, a P/E ratio of 49.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 39.48% and a net margin of 22.34%. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. During the same quarter in the previous year, the business earned $2.11 earnings per share. Netflix’s quarterly revenue was up 16.0% on a year-over-year basis. Research analysts anticipate that Netflix will post 23.43 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In related news, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the sale, the director now owns 246 shares in the company, valued at $216,327.48. The trade was a 96.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,500 shares of company stock worth $123,309,210 over the last 90 days. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. RPg Family Wealth Advisory LLC bought a new stake in Netflix during the 3rd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Netflix in the third quarter valued at $37,000. FSA Wealth Management LLC bought a new position in Netflix during the 3rd quarter worth $38,000. Finally, First Personal Financial Services bought a new position in Netflix during the 3rd quarter worth $40,000. 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.