Netflix, Inc. (NASDAQ:NFLX – Get Free Report) was up 1.6% on Thursday after Sanford C. Bernstein upgraded the stock from a market perform rating to an outperform rating. Sanford C. Bernstein now has a $1,200.00 price target on the stock, up from their previous price target of $975.00. Netflix traded as high as $984.42 and last traded at $969.71. Approximately 3,061,421 shares changed hands during trading, a decline of 31% from the average daily volume of 4,418,527 shares. The stock had previously closed at $953.99.
A number of other research firms have also recently weighed in on NFLX. TD Cowen lifted their price objective on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. StockNews.com downgraded shares of Netflix from a “buy” rating to a “hold” rating in a report on Thursday. Citigroup increased their price objective on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research note on Wednesday. Finally, KeyCorp increased their price target on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $1,009.29.
View Our Latest Research Report on NFLX
Insider Transactions at Netflix
Institutional Investors Weigh In On Netflix
Several hedge funds have recently made changes to their positions in NFLX. State Street Corp lifted its stake in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the period. Geode Capital Management LLC lifted its position in shares of Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares during the period. Jennison Associates LLC boosted its stake in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP raised its stake in Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after buying an additional 23,702 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.
Netflix Stock Performance
The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13. The company has a market cap of $417.88 billion, a PE ratio of 49.30, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. The business has a fifty day simple moving average of $892.06 and a two-hundred day simple moving average of $764.95.
Netflix (NASDAQ:NFLX – Get Free Report) last posted its 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 company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.11 earnings per share. Research analysts anticipate that Netflix, Inc. will post 23.72 earnings per share for the current year.
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.
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