Netflix (NASDAQ:NFLX) Stock Rating Lowered by Macquarie

Netflix (NASDAQ:NFLXGet Rating) was downgraded by research analysts at Macquarie to a “sell” rating in a report issued on Friday, TipRanks reports.

Other equities research analysts also recently issued research reports about the company. Zacks Investment Research upgraded Netflix from a “sell” rating to a “hold” rating and set a $402.00 price objective for the company in a report on Wednesday, March 23rd. Rosenblatt Securities started coverage on Netflix in a report on Tuesday, April 19th. They set a “neutral” rating and a $354.00 price target for the company. Wells Fargo & Company downgraded Netflix from an “overweight” rating to an “equal weight” rating and set a $300.00 price objective for the company. in a research note on Wednesday. Bank of America downgraded Netflix from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $605.00 to $300.00 in a research note on Wednesday. Finally, Piper Sandler downgraded Netflix from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $562.00 to $293.00 in a research note on Wednesday. Three investment analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Netflix has an average rating of “Hold” and a consensus price target of $386.31.

Netflix stock traded down $2.70 during midday trading on Friday, reaching $215.52. The company’s stock had a trading volume of 37,460,181 shares, compared to its average volume of 13,961,613. Netflix has a 52 week low of $210.05 and a 52 week high of $700.99. The company has a current ratio of 1.05, a quick ratio of 0.95 and a debt-to-equity ratio of 0.83. The business has a 50-day moving average price of $360.29 and a 200-day moving average price of $504.09. The stock has a market cap of $95.75 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 0.81 and a beta of 0.97.

Netflix (NASDAQ:NFLXGet Rating) last released its quarterly earnings results on Tuesday, April 19th. The Internet television network reported $3.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.90 by $0.63. Netflix had a return on equity of 32.01% and a net margin of 16.47%. The company had revenue of $7.87 billion for the quarter, compared to analysts’ expectations of $7.94 billion. During the same period in the previous year, the business posted $3.75 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts predict that Netflix will post 10.88 EPS for the current fiscal year.

In related news, CEO Reed Hastings purchased 46,900 shares of the business’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.40% of the company’s stock.

Several institutional investors have recently made changes to their positions in NFLX. Icapital Wealth LLC purchased a new stake in shares of Netflix in the first quarter worth about $25,000. Sageworth Trust Co bought a new stake in Netflix during the fourth quarter worth approximately $29,000. Andrew Hill Investment Advisors Inc. bought a new stake in Netflix during the fourth quarter worth approximately $30,000. Field & Main Bank bought a new position in shares of Netflix during the fourth quarter valued at approximately $30,000. Finally, Paragon Capital Management Ltd purchased a new stake in shares of Netflix in the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 81.37% of the company’s stock.

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.

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