Macquarie Upgrades Netflix (NASDAQ:NFLX) to “Neutral”

Macquarie upgraded shares of Netflix (NASDAQ:NFLXGet Rating) from an underperform rating to a neutral rating in a report published on Wednesday, Marketbeat reports. Macquarie currently has $230.00 price target on the Internet television network’s stock, up from their previous price target of $170.00.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their price objective on shares of Netflix from $230.00 to $240.00 and gave the company a neutral rating in a report on Wednesday, July 20th. Pivotal Research reduced their price objective on shares of Netflix from $235.00 to $175.00 and set a sell rating on the stock in a report on Wednesday, July 20th. Citigroup cut their price target on shares of Netflix from $295.00 to $275.00 and set a buy rating on the stock in a research note on Thursday, July 7th. Bank of America cut their price target on shares of Netflix to $196.00 in a research note on Thursday, June 23rd. Finally, Barclays cut their price target on shares of Netflix from $275.00 to $170.00 and set an equal weight rating on the stock in a research note on Wednesday, July 6th. Six research analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $318.65.

Netflix Stock Performance

Shares of NFLX stock opened at $228.96 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.75. Netflix has a 52 week low of $162.71 and a 52 week high of $700.99. The stock has a market capitalization of $101.82 billion, a PE ratio of 20.35, a P/E/G ratio of 1.57 and a beta of 1.34. The firm has a 50 day moving average of $216.52 and a two-hundred day moving average of $251.64.

Netflix (NASDAQ:NFLXGet Rating) last announced its quarterly earnings data on Tuesday, July 19th. The Internet television network reported $3.20 earnings per share for the quarter, beating analysts’ consensus estimates of $2.96 by $0.24. Netflix had a net margin of 16.42% and a return on equity of 30.07%. The business had revenue of $7.97 billion for the quarter, compared to analyst estimates of $8.03 billion. During the same period last year, the business earned $2.97 EPS. The company’s revenue was up 8.6% on a year-over-year basis. On average, research analysts predict that Netflix will post 10.03 EPS for the current fiscal year.

Institutional Trading of Netflix

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Netflix in the fourth quarter valued at about $2,612,150,000. Pershing Square Capital Management L.P. purchased a new stake in shares of Netflix in the first quarter valued at about $1,164,962,000. Loomis Sayles & Co. L P raised its position in shares of Netflix by 526,574.6% in the first quarter. Loomis Sayles & Co. L P now owns 3,107,380 shares of the Internet television network’s stock valued at $1,163,993,000 after buying an additional 3,106,790 shares during the last quarter. Polen Capital Management LLC raised its position in shares of Netflix by 85.7% in the first quarter. Polen Capital Management LLC now owns 5,005,530 shares of the Internet television network’s stock valued at $1,875,021,000 after buying an additional 2,310,617 shares during the last quarter. Finally, BlackRock Inc. raised its position in shares of Netflix by 8.1% in the fourth quarter. BlackRock Inc. now owns 29,223,880 shares of the Internet television network’s stock valued at $17,605,636,000 after buying an additional 2,179,427 shares during the last quarter. Hedge funds and other institutional investors own 75.52% of the company’s stock.

Netflix Company Profile

(Get Rating)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.

Further Reading

Analyst Recommendations for Netflix (NASDAQ:NFLX)

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