Macquarie Reiterates “Outperform” Rating for Netflix (NASDAQ:NFLX)

Netflix (NASDAQ:NFLX)‘s stock had its “outperform” rating reaffirmed by investment analysts at Macquarie in a note issued to investors on Friday, Benzinga reports. They currently have a $795.00 target price on the Internet television network’s stock. Macquarie’s price target indicates a potential upside of 4.07% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Bank of America increased their price target on Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Loop Capital increased their target price on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays reissued an “underweight” rating and issued a $550.00 price target on shares of Netflix in a report on Monday, October 7th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $750.00 price objective on shares of Netflix in a report on Tuesday, October 8th. Finally, Argus boosted their target price on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $747.70.

Netflix Stock Performance

NFLX opened at $763.89 on Friday. The firm has a fifty day moving average price of $696.38 and a 200 day moving average price of $654.94. Netflix has a 1 year low of $392.26 and a 1 year high of $766.28. The stock has a market cap of $329.24 billion, a P/E ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the prior year, the firm posted $3.29 earnings per share. The company’s revenue was up 16.8% compared to the same quarter last year. Equities research analysts anticipate that Netflix will post 19.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the transaction, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Leslie J. Kilgore sold 383 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the transaction, the director now directly owns 35,262 shares in the company, valued at approximately $25,741,260. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at $35,991.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,167 shares of company stock valued at $150,492,460 over the last quarter. 1.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Netflix

Several hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in Netflix by 26.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 182,106 shares of the Internet television network’s stock valued at $129,163,000 after acquiring an additional 38,166 shares in the last quarter. Compass Ion Advisors LLC lifted its position in shares of Netflix by 4.5% during the third quarter. Compass Ion Advisors LLC now owns 369 shares of the Internet television network’s stock worth $262,000 after purchasing an additional 16 shares in the last quarter. Vest Financial LLC boosted its stake in shares of Netflix by 154.1% in the third quarter. Vest Financial LLC now owns 1,794 shares of the Internet television network’s stock valued at $1,272,000 after purchasing an additional 1,088 shares during the period. West Branch Capital LLC grew its holdings in shares of Netflix by 30.3% in the third quarter. West Branch Capital LLC now owns 1,389 shares of the Internet television network’s stock valued at $985,000 after purchasing an additional 323 shares in the last quarter. Finally, OLD National Bancorp IN increased its stake in Netflix by 4.5% during the 3rd quarter. OLD National Bancorp IN now owns 3,547 shares of the Internet television network’s stock worth $2,516,000 after buying an additional 154 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

About Netflix

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.