Netflix’s (NFLX) Buy Rating Reiterated at Guggenheim

Guggenheim reissued their buy rating on shares of Netflix (NASDAQ:NFLX) in a research note released on Thursday morning,Benzinga reports. They currently have a $1,100.00 target price on the Internet television network’s stock.

Other analysts have also recently issued reports about the company. Macquarie upped their price target on Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a research report on Wednesday, January 22nd. Loop Capital reaffirmed a “hold” rating on shares of Netflix in a report on Monday, March 24th. Robert W. Baird lifted their price target on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Rosenblatt Securities upgraded shares of Netflix from a “neutral” rating to a “buy” rating and boosted their price target for the company from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Finally, KeyCorp raised their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a report on Wednesday, January 22nd. Ten research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,023.74.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $855.86 on Thursday. The business’s 50 day moving average is $970.24 and its 200-day moving average is $875.80. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $366.10 billion, a PE ratio of 43.16, a PEG ratio of 2.12 and a beta of 1.38. Netflix has a 1-year low of $542.01 and a 1-year high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.11 EPS. Sell-side analysts predict that Netflix will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Richard N. Barton sold 6,364 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the sale, the director now owns 246 shares of the company’s stock, valued at $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jeffrey William Karbowski sold 160 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total transaction of $160,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 280,676 shares of company stock valued at $273,515,672. 1.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netflix

Large investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB boosted its stake in shares of Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after buying an additional 156,958 shares during the last quarter. First National Trust Co grew its holdings in Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after purchasing an additional 12 shares during the period. Haven Private LLC acquired a new position in Netflix during the fourth quarter worth approximately $733,000. Sigma Planning Corp raised its stake in Netflix by 7.4% in the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after buying an additional 386 shares during the period. Finally, M&T Bank Corp lifted its position in shares of Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after buying an additional 1,684 shares during the last quarter. Institutional investors 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.