Netflix (NASDAQ:NFLX) Cut to Underperform at Bank of America

Netflix (NASDAQ:NFLXGet Rating) was downgraded by equities research analysts at Bank of America from a “buy” rating to an “underperform” rating in a research report issued on Wednesday, The Fly reports.

Several other equities research analysts also recently weighed in on the company. Credit Suisse Group downgraded Netflix from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $740.00 to $450.00 in a report on Friday, January 21st. Monness Crespi & Hardt downgraded Netflix from a “buy” rating to a “neutral” rating in a report on Friday, January 21st. Moffett Nathanson lowered their price target on Netflix from $460.00 to $375.00 and set a “neutral” rating for the company in a report on Friday, January 21st. Cowen decreased their target price on Netflix from $600.00 to $590.00 in a report on Tuesday, April 12th. Finally, JPMorgan Chase & Co. downgraded Netflix from an “overweight” rating to a “neutral” rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, twenty-three have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Netflix has a consensus rating of “Hold” and a consensus target price of $525.03.

NASDAQ NFLX opened at $348.61 on Wednesday. The stock’s 50 day moving average is $370.97 and its 200 day moving average is $512.60. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.93. Netflix has a 12 month low of $329.82 and a 12 month high of $700.99. The stock has a market cap of $154.88 billion, a PE ratio of 31.02, a P/E/G ratio of 1.26 and a beta of 0.97.

Netflix (NASDAQ:NFLXGet Rating) last announced its quarterly earnings data on Tuesday, April 19th. The Internet television network reported $3.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.90 by $0.63. The company had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.94 billion. Netflix had a return on equity of 35.34% and a net margin of 17.23%. Netflix’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.75 EPS. On average, analysts forecast that Netflix will post 10.86 EPS for the current fiscal year.

In related news, CEO Reed Hastings acquired 46,900 shares of the stock in a transaction on Thursday, January 27th. The shares were bought at an average price of $390.08 per share, with a total value of $18,294,752.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.68% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Sageworth Trust Co acquired a new position in shares of Netflix in the 4th quarter valued at $29,000. Field & Main Bank acquired a new position in shares of Netflix in the 4th quarter valued at $30,000. Andrew Hill Investment Advisors Inc. acquired a new position in shares of Netflix in the 4th quarter valued at $30,000. Paragon Capital Management Ltd acquired a new position in shares of Netflix in the 4th quarter valued at $31,000. Finally, Raleigh Capital Management Inc. acquired a new position in shares of Netflix in the 4th quarter valued at $34,000. 81.37% of the stock is currently owned by institutional investors and hedge funds.

About Netflix (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.

Featured Stories

The Fly logo

Analyst Recommendations for Netflix (NASDAQ:NFLX)

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.