Netflix (NASDAQ:NFLX) Upgraded by StockNews.com to “Buy”

StockNews.com upgraded shares of Netflix (NASDAQ:NFLX) from a hold rating to a buy rating in a research note published on Tuesday morning.

Several other brokerages also recently weighed in on NFLX. KeyCorp raised their price target on Netflix from $707.00 to $735.00 and gave the company an overweight rating in a report on Wednesday, July 10th. Citigroup raised their price target on Netflix from $660.00 to $675.00 and gave the company a neutral rating in a report on Monday, July 22nd. Benchmark raised their price target on Netflix from $450.00 to $545.00 and gave the company a sell rating in a report on Tuesday, July 16th. Piper Sandler raised their price target on Netflix from $600.00 to $650.00 and gave the company a neutral rating in a report on Friday, July 19th. Finally, Macquarie restated an outperform rating and set a $685.00 price target on shares of Netflix in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, Netflix currently has an average rating of Moderate Buy and a consensus target price of $685.29.

Netflix Stock Performance

Shares of Netflix stock opened at $722.26 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $311.29 billion, a P/E ratio of 50.12, a P/E/G ratio of 1.40 and a beta of 1.26. The business has a fifty day simple moving average of $665.29 and a two-hundred day simple moving average of $642.66. Netflix has a 12 month low of $344.73 and a 12 month high of $722.44.

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

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction 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 filing with the SEC, which is available at this hyperlink. In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. In the last ninety days, insiders sold 197,226 shares of company stock worth $129,858,692. 1.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. Precision Wealth Strategies LLC raised its holdings in shares of Netflix by 3.5% during the 4th quarter. Precision Wealth Strategies LLC now owns 2,444 shares of the Internet television network’s stock worth $1,190,000 after acquiring an additional 83 shares in the last quarter. Gilbert & Cook Inc. raised its holdings in shares of Netflix by 5.9% during the 4th quarter. Gilbert & Cook Inc. now owns 2,177 shares of the Internet television network’s stock worth $1,060,000 after acquiring an additional 121 shares in the last quarter. Aveo Capital Partners LLC raised its holdings in shares of Netflix by 6.9% during the 4th quarter. Aveo Capital Partners LLC now owns 667 shares of the Internet television network’s stock worth $325,000 after acquiring an additional 43 shares in the last quarter. Gryphon Financial Partners LLC raised its holdings in shares of Netflix by 20.4% during the 4th quarter. Gryphon Financial Partners LLC now owns 3,971 shares of the Internet television network’s stock worth $1,933,000 after acquiring an additional 674 shares in the last quarter. Finally, Alta Wealth Advisors LLC purchased a new stake in shares of Netflix during the 4th quarter worth approximately $241,000. 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.