KGI Securities Lowers Netflix (NASDAQ:NFLX) to Neutral

Netflix (NASDAQ:NFLXGet Rating) was downgraded by stock analysts at KGI Securities from an “outperform” rating to a “neutral” rating in a research note issued on Wednesday, The Fly reports.

A number of other brokerages also recently weighed in on NFLX. Credit Suisse Group downgraded shares of Netflix from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $740.00 to $450.00 in a research note on Friday, January 21st. Guggenheim reduced their price target on shares of Netflix from $720.00 to $555.00 and set a “buy” rating for the company in a report on Friday, January 21st. Piper Sandler cut shares of Netflix from an “overweight” rating to a “neutral” rating in a report on Wednesday. Loop Capital restated a “buy” rating and set a $700.00 target price on shares of Netflix in a report on Friday, January 14th. Finally, Pivotal Research lowered shares of Netflix from a “buy” rating to a “sell” rating in a research report on Wednesday. Four investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $525.03.

NASDAQ NFLX opened at $348.61 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $154.88 billion, a price-to-earnings ratio of 31.02, a P/E/G ratio of 1.26 and a beta of 0.97. The company’s fifty day moving average is $370.97 and its two-hundred day moving average is $512.60. Netflix has a 52-week low of $329.82 and a 52-week high of $700.99.

Netflix (NASDAQ:NFLXGet Rating) last issued its earnings results on Tuesday, April 19th. The Internet television network reported $3.53 earnings per share for the quarter, beating the consensus estimate of $2.90 by $0.63. The business had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.94 billion. Netflix had a net margin of 17.23% and a return on equity of 35.34%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.75 EPS. As a group, sell-side analysts expect that Netflix will post 10.86 earnings per share for the current fiscal year.

In other Netflix news, CEO Reed Hastings purchased 46,900 shares of Netflix stock in a transaction that occurred on Thursday, January 27th. The stock was acquired at an average price of $390.08 per share, with a total value of $18,294,752.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.68% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Netflix by 8.1% in the 4th quarter. BlackRock Inc. now owns 29,223,880 shares of the Internet television network’s stock valued at $17,605,636,000 after purchasing an additional 2,179,427 shares during the period. State Street Corp boosted its holdings in Netflix by 1.8% during the 4th quarter. State Street Corp now owns 16,477,179 shares of the Internet television network’s stock worth $9,926,512,000 after acquiring an additional 299,165 shares during the last quarter. Capital World Investors boosted its holdings in Netflix by 0.4% during the 4th quarter. Capital World Investors now owns 13,268,607 shares of the Internet television network’s stock worth $7,993,623,000 after acquiring an additional 50,911 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Netflix by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 7,192,197 shares of the Internet television network’s stock worth $4,320,858,000 after acquiring an additional 209,346 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Netflix by 6.2% during the 4th quarter. Jennison Associates LLC now owns 6,643,284 shares of the Internet television network’s stock worth $4,002,180,000 after acquiring an additional 385,522 shares during the last quarter. 81.37% of the stock is owned by institutional investors and hedge funds.

Netflix Company Profile (Get Rating)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.

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