Netflix (NFLX) Rating Increased to Hold at BidaskClub

Netflix (NASDAQ:NFLX) was upgraded by equities researchers at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Several other research analysts have also recently issued reports on the company. Citigroup lowered their price objective on Netflix and set a “neutral” rating for the company in a research report on Monday, October 15th. Loop Capital upped their price objective on Netflix from $365.00 to $385.00 in a research report on Wednesday, October 17th. Imperial Capital lowered their price objective on Netflix from $503.00 to $494.00 and set an “outperform” rating for the company in a research report on Monday, August 13th. Nomura set a $370.00 price objective on Netflix and gave the stock a “neutral” rating in a research report on Monday, October 29th. Finally, Credit Suisse Group reaffirmed a “buy” rating and set a $470.00 price objective on shares of Netflix in a research report on Monday, October 1st. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirty have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $376.99.

NFLX opened at $286.13 on Friday. Netflix has a 12 month low of $178.38 and a 12 month high of $423.21. The firm has a market cap of $124.78 billion, a P/E ratio of 102.56, a P/E/G ratio of 3.60 and a beta of 1.18. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.66.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.21. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $3.99 billion. Netflix had a return on equity of 29.52% and a net margin of 8.48%. The business’s quarterly revenue was up 34.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. As a group, research analysts forecast that Netflix will post 2.65 EPS for the current fiscal year.

In related news, CFO David B. Wells sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $366.76, for a total value of $366,760.00. Following the completion of the sale, the chief financial officer now directly owns 1,000 shares of the company’s stock, valued at approximately $366,760. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Timothy M. Haley sold 21,882 shares of the company’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $336.41, for a total value of $7,361,323.62. Following the completion of the sale, the director now directly owns 9,177 shares of the company’s stock, valued at $3,087,234.57. The disclosure for this sale can be found here. Over the last three months, insiders sold 334,150 shares of company stock valued at $108,858,971. Insiders own 4.29% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of NFLX. Capital International Investors purchased a new stake in Netflix during the 3rd quarter valued at approximately $1,231,337,000. FMR LLC raised its stake in Netflix by 6.1% during the 2nd quarter. FMR LLC now owns 26,511,408 shares of the Internet television network’s stock valued at $10,377,360,000 after acquiring an additional 1,534,290 shares during the last quarter. SG Americas Securities LLC raised its stake in Netflix by 109.2% during the 3rd quarter. SG Americas Securities LLC now owns 89,706 shares of the Internet television network’s stock valued at $33,562,000 after acquiring an additional 1,063,944 shares during the last quarter. BlackRock Inc. raised its stake in Netflix by 2.3% during the 2nd quarter. BlackRock Inc. now owns 27,436,409 shares of the Internet television network’s stock valued at $10,739,434,000 after acquiring an additional 619,795 shares during the last quarter. Finally, PointState Capital LP raised its stake in Netflix by 1,249.4% during the 2nd quarter. PointState Capital LP now owns 504,685 shares of the Internet television network’s stock valued at $197,549,000 after acquiring an additional 467,285 shares during the last quarter. 74.12% of the stock is owned by hedge funds and other institutional investors.

About Netflix

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

See Also: Initial Public Offering (IPO)

Analyst Recommendations for Netflix (NASDAQ:NFLX)

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