Macquarie Upgrades Netflix (NFLX) to “Outperform”

Macquarie upgraded shares of Netflix (NASDAQ:NFLX) from a neutral rating to an outperform rating in a report published on Tuesday, MarketBeat Ratings reports. The firm currently has $220.00 price objective on the Internet television network’s stock, up from their prior price objective of $200.00.

Several other research firms also recently commented on NFLX. Piper Jaffray Companies restated a buy rating and issued a $215.00 price target on shares of Netflix in a research note on Monday, September 18th. Loop Capital upped their price target on shares of Netflix from $228.00 to $242.00 and gave the company a buy rating in a research note on Tuesday, October 17th. Royal Bank of Canada restated an outperform rating and issued a $210.00 price target on shares of Netflix in a research note on Friday, October 6th. Buckingham Research restated a buy rating and issued a $214.00 price target on shares of Netflix in a research note on Monday, October 9th. Finally, Argus restated a hold rating on shares of Netflix in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and thirty-five have given a buy rating to the company’s stock. Netflix presently has an average rating of Buy and an average target price of $210.08.

Netflix (NFLX) opened at $209.99 on Tuesday. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.20 and a quick ratio of 1.20. Netflix has a one year low of $128.50 and a one year high of $210.02. The company has a market cap of $92,800.00, a PE ratio of 212.11, a P/E/G ratio of 3.33 and a beta of 1.34.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, October 16th. The Internet television network reported $0.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.32 by ($0.03). Netflix had a net margin of 4.04% and a return on equity of 14.56%. The business had revenue of $2.99 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same quarter last year, the company posted $0.12 earnings per share. The company’s revenue was up 30.3% on a year-over-year basis. research analysts anticipate that Netflix will post 1.26 EPS for the current fiscal year.

In other news, Director Richard N. Barton sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $196.16, for a total value of $392,320.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Reed Hastings sold 91,861 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $189.03, for a total transaction of $17,364,484.83. Following the completion of the sale, the chief executive officer now owns 91,861 shares in the company, valued at $17,364,484.83. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 338,227 shares of company stock worth $65,627,992. 4.90% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Balentine LLC raised its holdings in Netflix by 1,020.4% in the 3rd quarter. Balentine LLC now owns 549 shares of the Internet television network’s stock valued at $100,000 after buying an additional 500 shares during the last quarter. Almanack Investment Partners LLC. bought a new position in Netflix in the 2nd quarter valued at approximately $101,000. Aviance Capital Management LLC bought a new position in Netflix in the 2nd quarter valued at approximately $137,000. Captrust Financial Advisors bought a new position in Netflix in the 2nd quarter valued at approximately $139,000. Finally, Harfst & Associates Inc. raised its holdings in Netflix by 36.8% in the 2nd quarter. Harfst & Associates Inc. now owns 1,015 shares of the Internet television network’s stock valued at $151,000 after buying an additional 273 shares during the last quarter. Institutional investors and hedge funds own 83.27% of the company’s stock.

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About Netflix

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

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