Netflix (NASDAQ:NFLX) Stock Rating Upgraded by Benchmark

Benchmark upgraded shares of Netflix (NASDAQ:NFLX) from a sell rating to a hold rating in a report released on Wednesday morning, Marketbeat reports.

NFLX has been the subject of a number of other research reports. Piper Sandler lifted their price objective on shares of Netflix from $840.00 to $950.00 and gave the company an “overweight” rating in a research report on Tuesday, January 14th. Citigroup raised their target price on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Wedbush reissued an “outperform” rating and set a $950.00 price target (up previously from $800.00) on shares of Netflix in a research report on Monday, November 18th. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and upped their price objective for the company from $680.00 to $1,494.00 in a research note on Wednesday. Finally, Bank of America lifted their target price on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,009.29.

Netflix Stock Performance

NFLX opened at $977.59 on Wednesday. The business’s 50-day simple moving average is $892.06 and its 200 day simple moving average is $764.95. Netflix has a 52-week low of $542.01 and a 52-week high of $999.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22. The firm has a market capitalization of $417.88 billion, a PE ratio of 49.30, a PEG ratio of 1.53 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced 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. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. During the same quarter in the prior year, the business posted $2.11 EPS. The business’s revenue was up 16.0% compared to the same quarter last year. As a group, sell-side analysts expect that Netflix will post 23.72 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,117 shares of company stock valued at $123,913,691. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several hedge funds have recently modified their holdings of NFLX. DigitalBridge Group Inc. grew its stake in shares of Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after buying an additional 9,451 shares during the period. Nordea Investment Management AB boosted its holdings in Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after acquiring an additional 156,958 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Netflix by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after acquiring an additional 29,726 shares during the period. Natixis Advisors LLC increased its holdings in shares of Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after acquiring an additional 11,921 shares in the last quarter. Finally, M&T Bank Corp raised its position in shares of Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after purchasing an additional 1,684 shares during the period. 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.