Credit Suisse Group restated their hold rating on shares of Netflix (NASDAQ:NFLX) in a research note published on Tuesday, AnalystRatings.com reports.
Other analysts also recently issued reports about the stock. Jefferies Financial Group set a $550.00 price target on shares of Netflix and gave the company a buy rating in a report on Wednesday, August 19th. Goldman Sachs Group reduced their price objective on shares of Netflix from $670.00 to $600.00 and set a conviction-buy rating for the company in a report on Friday, July 17th. JPMorgan Chase & Co. reaffirmed a buy rating and set a $625.00 price objective on shares of Netflix in a report on Tuesday. Royal Bank of Canada raised their price objective on shares of Netflix from $500.00 to $610.00 in a report on Friday, July 17th. Finally, Societe Generale reaffirmed a sell rating and set a $270.00 price objective on shares of Netflix in a report on Tuesday, July 21st. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $490.80.
Shares of Netflix stock opened at $473.08 on Tuesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.12 and a quick ratio of 1.12. Netflix has a fifty-two week low of $253.70 and a fifty-two week high of $575.37. The firm has a fifty day moving average price of $497.17 and a two-hundred day moving average price of $444.76. The company has a market cap of $208.64 billion, a PE ratio of 79.78, a price-to-earnings-growth ratio of 2.53 and a beta of 0.97.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 16th. The Internet television network reported $1.59 earnings per share for the quarter, missing analysts’ consensus estimates of $1.81 by ($0.22). Netflix had a net margin of 11.85% and a return on equity of 33.32%. The company had revenue of $6.15 billion during the quarter, compared to the consensus estimate of $6.08 billion. During the same period last year, the company earned $0.60 earnings per share. Analysts expect that Netflix will post 6.28 earnings per share for the current fiscal year.
In related news, insider Gregory K. Peters sold 5,357 shares of Netflix stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $475.00, for a total transaction of $2,544,575.00. Following the transaction, the insider now owns 18,447 shares of the company’s stock, valued at approximately $8,762,325. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel David A. Hyman sold 26,754 shares of Netflix stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $505.77, for a total transaction of $13,531,370.58. Following the transaction, the general counsel now directly owns 38,008 shares in the company, valued at approximately $19,223,306.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 226,117 shares of company stock valued at $112,071,744. 3.40% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Engrave Wealth Partners LLC boosted its stake in Netflix by 65.0% during the 2nd quarter. Engrave Wealth Partners LLC now owns 66 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 26 shares during the last quarter. Motco boosted its stake in Netflix by 57.1% during the 2nd quarter. Motco now owns 66 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 24 shares during the last quarter. Kistler Tiffany Companies LLC boosted its stake in Netflix by 688.9% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 71 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares during the last quarter. Northern Oak Wealth Management Inc. lifted its stake in Netflix by 39.7% in the first quarter. Northern Oak Wealth Management Inc. now owns 88 shares of the Internet television network’s stock valued at $33,000 after buying an additional 25 shares in the last quarter. Finally, Virtus ETF Advisers LLC bought a new position in Netflix in the second quarter valued at approximately $56,000. 80.63% of the stock is currently owned by institutional investors and hedge funds.
Netflix Company Profile
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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