Netflix’s (NFLX) Buy Rating Reaffirmed at Needham & Company LLC

Netflix (NASDAQ:NFLX)‘s stock had its “buy” rating reissued by Needham & Company LLC in a report issued on Thursday,Benzinga reports. They presently have a $1,126.00 price target on the Internet television network’s stock. Needham & Company LLC’s price target points to a potential upside of 15.72% from the stock’s current price.

Several other research analysts have also commented on NFLX. Argus lifted their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group raised their target price on shares of Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Bank of America increased their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. FBN Securities began coverage on Netflix in a research report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 target price on the stock. Finally, Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Ten research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,023.49.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $973.03 on Thursday. Netflix has a 52-week low of $542.01 and a 52-week high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The firm’s fifty day moving average is $954.87 and its two-hundred day moving average is $891.82. The company has a market cap of $416.22 billion, a P/E ratio of 49.07, a P/E/G ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same quarter in the prior year, the firm earned $8.28 earnings per share. As a group, analysts anticipate that Netflix will post 24.58 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, CAO Jeffrey William Karbowski sold 160 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $1,000.00, for a total value of $160,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 25,360 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total value of $23,360,364.00. Following the completion of the sale, the chairman now owns 394 shares of the company’s stock, valued at $362,933.10. This trade represents a 98.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 274,312 shares of company stock valued at $267,919,297 in the last 90 days. 1.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netflix

A number of large investors have recently added to or reduced their stakes in NFLX. Principal Financial Group Inc. raised its holdings in shares of Netflix by 13.3% during the third quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after acquiring an additional 198,148 shares during the last quarter. M&T Bank Corp raised its stake in Netflix by 4.2% in the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after purchasing an additional 1,684 shares during the last quarter. McIlrath & Eck LLC raised its stake in Netflix by 13.8% in the 3rd quarter. McIlrath & Eck LLC now owns 247 shares of the Internet television network’s stock valued at $175,000 after purchasing an additional 30 shares during the last quarter. Advisory Resource Group lifted its holdings in Netflix by 0.7% in the 3rd quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after purchasing an additional 12 shares in the last quarter. Finally, Virtu Financial LLC grew its holdings in shares of Netflix by 356.5% during the third quarter. Virtu Financial LLC now owns 13,879 shares of the Internet television network’s stock worth $9,844,000 after buying an additional 10,839 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.