Netflix’s (NFLX) “Buy” Rating Reaffirmed at Goldman Sachs Group

Goldman Sachs Group reiterated their buy rating on shares of Netflix (NASDAQ:NFLX) in a research report released on Friday morning, Borsen Zeitung reports. They currently have a $460.00 price objective on the Internet television network’s stock.

Several other research analysts also recently commented on NFLX. BMO Capital Markets restated a buy rating and set a $50.00 price objective on shares of Fortis in a research report on Tuesday, April 16th. SunTrust Banks restated a buy rating on shares of Netflix in a research report on Friday, April 12th. Deutsche Bank downgraded shares of J B Hunt Transport Services from a buy rating to a sell rating and set a $98.51 price target for the company. in a report on Wednesday, April 17th. Pivotal Research reiterated a buy rating and set a $500.00 price target on shares of Netflix in a report on Tuesday, April 16th. Finally, Oppenheimer set a $119.00 price target on shares of American Express and gave the stock a buy rating in a report on Wednesday, April 17th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $393.24.

Shares of NFLX opened at $366.60 on Friday. Netflix has a one year low of $231.23 and a one year high of $403.36. The firm has a market capitalization of $163.19 billion, a P/E ratio of 136.79, a P/E/G ratio of 3.72 and a beta of 1.26. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.81. The company’s 50 day moving average price is $362.30.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, April 16th. The Internet television network reported $0.76 EPS for the quarter, beating the consensus estimate of $0.57 by $0.19. Netflix had a net margin of 7.61% and a return on equity of 24.75%. The business had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.50 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The company’s revenue was up 22.2% on a year-over-year basis. Equities analysts expect that Netflix will post 3.35 earnings per share for the current year.

In other Netflix news, CEO Reed Hastings sold 57,414 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $348.88, for a total transaction of $20,030,596.32. Following the sale, the chief executive officer now owns 57,414 shares of the company’s stock, valued at $20,030,596.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ann Mather sold 1,208 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $375.00, for a total transaction of $453,000.00. Following the sale, the director now directly owns 357 shares in the company, valued at approximately $133,875. The disclosure for this sale can be found here. Insiders sold 167,486 shares of company stock valued at $60,955,416 over the last 90 days. 3.72% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of NFLX. FMR LLC boosted its position in shares of Netflix by 2.4% during the 1st quarter. FMR LLC now owns 26,167,019 shares of the Internet television network’s stock worth $9,330,112,000 after purchasing an additional 605,419 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Netflix by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 5,342,932 shares of the Internet television network’s stock worth $1,427,434,000 after purchasing an additional 148,252 shares in the last quarter. Northern Trust Corp boosted its position in shares of Netflix by 1.9% during the 1st quarter. Northern Trust Corp now owns 4,948,504 shares of the Internet television network’s stock worth $1,764,438,000 after purchasing an additional 90,312 shares in the last quarter. Norges Bank bought a new position in shares of Netflix during the 4th quarter worth about $1,209,406,000. Finally, SRS Investment Management LLC boosted its position in shares of Netflix by 6.9% during the 4th quarter. SRS Investment Management LLC now owns 3,550,543 shares of the Internet television network’s stock worth $950,338,000 after purchasing an additional 229,679 shares in the last quarter. 77.02% of the stock is currently owned by institutional investors and hedge funds.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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