Netflix (NFLX) Lifted to Strong-Buy at Raymond James

Raymond James upgraded shares of Netflix (NASDAQ:NFLX) from an outperform rating to a strong-buy rating in a report issued on Friday morning, Marketbeat Ratings reports. They currently have $450.00 price target on the Internet television network’s stock, up from their previous price target of $435.00.

Other equities research analysts have also recently issued research reports about the company. Loop Capital boosted their target price on Netflix from $365.00 to $385.00 in a report on Wednesday, October 17th. Guggenheim boosted their target price on Netflix from $360.00 to $420.00 and gave the stock a buy rating in a report on Wednesday, September 19th. SunTrust Banks set a $410.00 target price on Netflix and gave the stock a buy rating in a report on Monday, September 17th. BidaskClub upgraded shares of Netflix from a hold rating to a buy rating in a research report on Friday, September 14th. Finally, Goldman Sachs Group set a $470.00 price target on shares of Netflix and gave the stock a buy rating in a research report on Tuesday, October 2nd. Six analysts have rated the stock with a sell rating, eight have issued a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $365.74.

NFLX opened at $337.59 on Friday. The company has a market cap of $139.53 billion, a PE ratio of 270.07, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.66. Netflix has a twelve month low of $216.00 and a twelve month high of $423.21.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.21. Netflix had a return on equity of 29.52% and a net margin of 8.48%. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the company posted $0.29 earnings per share. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. As a group, analysts anticipate that Netflix will post 2.63 earnings per share for the current year.

In other news, CFO David B. Wells sold 1,000 shares of the stock in a transaction on Monday, October 22nd. The shares were sold at an average price of $332.67, for a total transaction of $332,670.00. Following the completion of the sale, the chief financial officer now owns 1,000 shares of the company’s stock, valued at $332,670. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Reed Hastings sold 63,147 shares of the stock in a transaction on Monday, December 24th. The stock was sold at an average price of $241.12, for a total transaction of $15,226,004.64. Following the sale, the chief executive officer now directly owns 63,147 shares of the company’s stock, valued at approximately $15,226,004.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 288,664 shares of company stock worth $84,190,971. Company insiders own 4.29% of the company’s stock.

Several hedge funds have recently modified their holdings of NFLX. Great Lakes Advisors LLC lifted its stake in Netflix by 0.3% in the third quarter. Great Lakes Advisors LLC now owns 24,044 shares of the Internet television network’s stock valued at $8,996,000 after acquiring an additional 75 shares during the last quarter. Carnegie Capital Asset Management LLC lifted its stake in Netflix by 9.9% in the third quarter. Carnegie Capital Asset Management LLC now owns 1,388 shares of the Internet television network’s stock valued at $395,000 after acquiring an additional 125 shares during the last quarter. United Capital Management of KS Inc. lifted its stake in Netflix by 6.3% in the fourth quarter. United Capital Management of KS Inc. now owns 2,309 shares of the Internet television network’s stock valued at $618,000 after acquiring an additional 137 shares during the last quarter. Sound Income Strategies LLC lifted its stake in Netflix by 30.6% in the third quarter. Sound Income Strategies LLC now owns 675 shares of the Internet television network’s stock valued at $253,000 after acquiring an additional 158 shares during the last quarter. Finally, Clarus Wealth Advisors lifted its stake in Netflix by 26.1% in the fourth quarter. Clarus Wealth Advisors now owns 811 shares of the Internet television network’s stock valued at $217,000 after acquiring an additional 168 shares during the last quarter. 73.97% of the stock is owned by institutional investors.

Netflix Company Profile

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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