Netflix (NASDAQ:NFLX) Upgraded by Needham & Company LLC to “Buy”

Needham & Company LLC upgraded shares of Netflix (NASDAQ:NFLX) from a hold rating to a buy rating in a report published on Friday, MarketBeat reports. They currently have $700.00 price target on the Internet television network’s stock.

NFLX has been the topic of several other reports. UBS Group boosted their target price on Netflix from $570.00 to $685.00 and gave the stock a buy rating in a report on Tuesday, February 27th. Citigroup boosted their target price on Netflix from $555.00 to $660.00 and gave the stock a neutral rating in a report on Monday, March 25th. Bank of America boosted their target price on Netflix from $585.00 to $650.00 and gave the stock a buy rating in a report on Wednesday, January 24th. Benchmark reissued a sell rating and issued a $440.00 target price on shares of Netflix in a report on Thursday. Finally, Wedbush boosted their target price on Netflix from $615.00 to $725.00 and gave the stock an outperform rating in a report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, Netflix has a consensus rating of Moderate Buy and a consensus target price of $630.58.

Netflix Trading Down 9.1 %

NASDAQ NFLX opened at $555.04 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix has a twelve month low of $315.62 and a twelve month high of $639.00. The firm has a market capitalization of $240.20 billion, a PE ratio of 38.52, a P/E/G ratio of 1.64 and a beta of 1.22. The stock’s 50 day moving average is $605.65 and its 200 day moving average is $513.07.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.46% and a net margin of 18.42%. The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period in the previous year, the company posted $2.88 earnings per share. The firm’s revenue was up 14.8% on a year-over-year basis. Research analysts forecast that Netflix will post 17.08 earnings per share for the current fiscal year.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 47,574 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, CEO Gregory K. Peters sold 5,352 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $625.00, for a total value of $3,345,000.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,181,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 268,335 shares of company stock valued at $151,619,811. Insiders own 2.45% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several institutional investors have recently modified their holdings of the stock. Indiana Trust & Investment Management CO raised its holdings in shares of Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after buying an additional 28 shares during the period. VitalStone Financial LLC raised its holdings in shares of Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after buying an additional 56 shares during the period. Aspect Partners LLC purchased a new stake in shares of Netflix in the fourth quarter worth approximately $32,000. Scarborough Advisors LLC purchased a new stake in shares of Netflix in the fourth quarter worth approximately $32,000. Finally, Authentikos Wealth Advisory LLC purchased a new stake in shares of Netflix in the third quarter worth approximately $25,000. 80.93% of the stock is 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.