Phillip Securities upgraded shares of Netflix (NASDAQ:NFLX – Free Report) from a moderate buy rating to a strong-buy rating in a research note issued to investors on Sunday,Zacks.com reports.
NFLX has been the subject of a number of other research reports. Rosenblatt Securities set a $75.00 target price on Netflix and gave the stock a “neutral” rating in a research report on Friday. Seaport Research Partners lowered Netflix from a “buy” rating to a “neutral” rating in a research note on Monday. Barclays decreased their price target on shares of Netflix from $85.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Friday. Erste Group Bank lowered shares of Netflix from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Finally, Needham & Company LLC restated a “buy” rating on shares of Netflix in a research note on Friday, April 17th. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have given a Buy rating, seventeen have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $104.21.
Check Out Our Latest Analysis on NFLX
Netflix Stock Performance
Netflix (NASDAQ:NFLX – Get Free Report) last posted its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.01. The firm had revenue of $12.56 billion for the quarter, compared to analyst estimates of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The firm’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.72 earnings per share. Equities research analysts anticipate that Netflix will post 3.6 EPS for the current fiscal year.
Insider Transactions at Netflix
In other Netflix news, insider David A. Hyman sold 5,722 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $88.08, for a total transaction of $503,993.76. Following the transaction, the insider directly owned 316,100 shares in the company, valued at approximately $27,842,088. This represents a 1.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Spencer Adam Neumann sold 9,253 shares of the firm’s stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $88.95, for a total transaction of $823,054.35. Following the completion of the transaction, the chief financial officer directly owned 73,787 shares in the company, valued at $6,563,353.65. This trade represents a 11.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 899,839 shares of company stock valued at $80,141,661. 1.24% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in NFLX. Northside Capital Management LLC lifted its stake in Netflix by 1,686.2% in the second quarter. Northside Capital Management LLC now owns 117,351 shares of the Internet television network’s stock valued at $8,379,000 after buying an additional 110,781 shares during the period. Whitener Capital Management Inc. grew its position in shares of Netflix by 9.6% during the 2nd quarter. Whitener Capital Management Inc. now owns 16,515 shares of the Internet television network’s stock worth $1,179,000 after buying an additional 1,445 shares during the period. Tema ETFs LLC increased its stake in shares of Netflix by 10.7% in the 2nd quarter. Tema ETFs LLC now owns 84,291 shares of the Internet television network’s stock valued at $6,018,000 after acquiring an additional 8,120 shares during the last quarter. West Branch Capital LLC raised its position in shares of Netflix by 3.2% in the 2nd quarter. West Branch Capital LLC now owns 33,421 shares of the Internet television network’s stock valued at $2,386,000 after acquiring an additional 1,042 shares during the period. Finally, Rise Advisors LLC grew its holdings in Netflix by 7.7% during the second quarter. Rise Advisors LLC now owns 3,982 shares of the Internet television network’s stock valued at $284,000 after purchasing an additional 284 shares during the period. 80.93% of the stock is currently owned by institutional investors.
Key Netflix News
Here are the key news stories impacting Netflix this week:
- Negative Sentiment: Netflix’s Q2 results were overshadowed by a revenue miss, lower margins, and management’s warning that revenue growth should slow to around 12% in Q3. Article Title
- Negative Sentiment: Analysts are trimming forecasts and price targets as investors worry that engagement gains are not fully offsetting slowing growth and pricing-driven revenue expansion. Article Title
- Negative Sentiment: There are renewed concerns that Netflix’s recent growth has relied more on price increases than subscriber growth, raising questions about how durable its current momentum is. Article Title
About Netflix
Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.
The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.
Read More
- Five stocks we like better than Netflix
- Qualcomm Stock Slides 30%: Buying Opportunity Ahead of July 29 Earnings
- The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence
- Is Domino’s Stock Serving Up a Buying Opportunity?
- A $1T Black Hole: SpaceX Eyes Pentagon AI to Break Free
Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.
