Oppenheimer Reaffirms “Outperform” Rating for Netflix (NASDAQ:NFLX)

Oppenheimer reaffirmed their outperform rating on shares of Netflix (NASDAQ:NFLX) in a research report sent to investors on Friday, Benzinga reports. Oppenheimer currently has a $725.00 target price on the Internet television network’s stock.

Several other analysts have also recently commented on NFLX. Macquarie raised their target price on Netflix from $595.00 to $685.00 and gave the company an outperform rating in a research report on Tuesday, April 16th. Canaccord Genuity Group reissued a hold rating and set a $585.00 price target (down from $720.00) on shares of Netflix in a report on Friday. DZ Bank raised shares of Netflix from a hold rating to a buy rating and set a $600.00 price objective for the company in a report on Thursday, January 25th. Morgan Stanley increased their target price on shares of Netflix from $600.00 to $700.00 and gave the company an overweight rating in a research report on Friday, April 12th. Finally, Evercore ISI boosted their price target on shares of Netflix from $600.00 to $640.00 and gave the stock an outperform rating in a research report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, Netflix has a consensus rating of Moderate Buy and a consensus price target of $630.58.

Netflix Stock Performance

Shares of NFLX opened at $555.04 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. Netflix has a 1 year low of $315.62 and a 1 year high of $639.00. The firm has a fifty day moving average of $605.65 and a 200-day moving average of $514.99. The company has a market cap of $240.20 billion, a price-to-earnings ratio of 38.52, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.46%. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same period in the previous year, the business posted $2.88 EPS. Netflix’s revenue was up 14.8% on a year-over-year basis. As a group, equities analysts anticipate that Netflix will post 17.13 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $17,575,476.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory K. Peters sold 5,352 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,181,250. The disclosure for this sale can be found here. In the last ninety days, insiders sold 268,335 shares of company stock worth $151,619,811. 2.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. Fairfield Bush & CO. boosted its holdings in Netflix by 26.5% in the first quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock worth $916,000 after purchasing an additional 512 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Netflix by 21.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock worth $179,820,000 after acquiring an additional 84,179 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Netflix by 14.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock valued at $1,094,000 after acquiring an additional 363 shares during the last quarter. Candriam Luxembourg S.C.A. raised its stake in shares of Netflix by 6.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock valued at $13,610,000 after acquiring an additional 2,358 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its holdings in Netflix by 13.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock worth $1,426,000 after purchasing an additional 441 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.