Netflix (NASDAQ:NFLX) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Netflix (NASDAQ:NFLX) from a hold rating to a buy rating in a report released on Sunday morning.

Several other analysts have also issued reports on the stock. Jefferies Financial Group boosted their price target on shares of Netflix from $655.00 to $780.00 and gave the company a buy rating in a research report on Tuesday, July 16th. Argus upped their target price on shares of Netflix from $660.00 to $767.00 and gave the stock a buy rating in a report on Tuesday, July 2nd. TD Cowen upped their target price on shares of Netflix from $725.00 to $775.00 and gave the stock a buy rating in a report on Tuesday, July 9th. Loop Capital upped their target price on shares of Netflix from $700.00 to $750.00 and gave the stock a buy rating in a report on Tuesday, June 18th. Finally, Citigroup upped their target price on shares of Netflix from $660.00 to $675.00 and gave the stock a neutral rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, Netflix has an average rating of Moderate Buy and an average price target of $685.29.

Netflix Stock Performance

Shares of NFLX stock opened at $697.06 on Friday. The firm’s 50-day simple moving average is $660.00 and its two-hundred day simple moving average is $637.88. Netflix has a 52 week low of $344.73 and a 52 week high of $711.33. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $299.16 billion, a price-to-earnings ratio of 48.37, a P/E/G ratio of 1.40 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same quarter in the previous year, the firm posted $3.29 earnings per share. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. As a group, equities analysts forecast that Netflix will post 19.08 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,043,019.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,043,019.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 196,798 shares of company stock worth $129,552,672. 1.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Lazari Capital Management Inc. increased its stake in shares of Netflix by 3.2% in the 2nd quarter. Lazari Capital Management Inc. now owns 3,931 shares of the Internet television network’s stock worth $2,653,000 after acquiring an additional 123 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Netflix in the 2nd quarter worth about $47,894,000. NCP Inc. increased its stake in shares of Netflix by 5.4% in the 2nd quarter. NCP Inc. now owns 10,491 shares of the Internet television network’s stock worth $7,080,000 after acquiring an additional 535 shares in the last quarter. Brown Financial Advisors bought a new position in shares of Netflix in the 2nd quarter worth about $1,201,000. Finally, Gordian Capital Singapore Pte Ltd increased its stake in shares of Netflix by 77.9% in the 2nd quarter. Gordian Capital Singapore Pte Ltd now owns 19,522 shares of the Internet television network’s stock worth $13,175,000 after acquiring an additional 8,550 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Company Profile

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.