Netflix’s (NFLX) “Outperform” Rating Reaffirmed at BMO Capital Markets

Netflix (NASDAQ:NFLX)‘s stock had its “outperform” rating reaffirmed by research analysts at BMO Capital Markets in a note issued to investors on Wednesday, Benzinga reports. They presently have a $713.00 price objective on the Internet television network’s stock, up from their prior price objective of $638.00. BMO Capital Markets’ price target would indicate a potential upside of 16.18% from the company’s current price.

NFLX has been the topic of several other research reports. KeyCorp lifted their target price on Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a research note on Monday. Evercore ISI lifted their price objective on Netflix from $600.00 to $640.00 and gave the stock an “outperform” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. lifted their target price on Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Wells Fargo & Company lifted their target price on Netflix from $460.00 to $650.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $605.76.

Netflix Stock Performance

Shares of NASDAQ NFLX traded down $3.83 during trading on Wednesday, hitting $613.69. The company had a trading volume of 3,266,462 shares, compared to its average volume of 4,228,966. The stock has a 50 day simple moving average of $603.65 and a 200 day simple moving average of $510.44. 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 12 month low of $315.62 and a 12 month high of $639.00. The firm has a market capitalization of $265.58 billion, a P/E ratio of 51.02, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.09). Netflix had a return on equity of 24.76% and a net margin of 16.04%. The company had revenue of $8.83 billion during the quarter, compared to the consensus estimate of $8.72 billion. During the same period last year, the business earned $0.12 EPS. The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. As a group, analysts anticipate that Netflix will post 17.03 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 47,000 shares of the business’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total value of $25,873,500.00. Following the completion of the transaction, the director now directly owns 431,034 shares of the company’s stock, valued at approximately $237,284,217. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Jay C. Hoag sold 47,000 shares of the business’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total value of $25,873,500.00. Following the completion of the transaction, the director now directly owns 431,034 shares of the company’s stock, valued at approximately $237,284,217. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,575,476.10. 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.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NFLX. Authentikos Wealth Advisory LLC acquired a new position in Netflix during the 3rd quarter valued at about $25,000. Spartan Planning & Wealth Management acquired a new position in Netflix during the 3rd quarter valued at about $26,000. Carmel Capital Partners LLC increased its position in Netflix by 290.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock valued at $30,000 after buying an additional 58 shares in the last quarter. VitalStone Financial LLC increased its position in Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after buying an additional 56 shares in the last quarter. Finally, Aspect Partners LLC acquired a new position in Netflix during the 4th quarter valued at about $32,000. 80.93% of the stock is owned by institutional investors and hedge funds.

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.