Oppenheimer Reaffirms “Outperform” Rating for Netflix (NASDAQ:NFLX)

Netflix (NASDAQ:NFLX)‘s stock had its “outperform” rating reissued by equities researchers at Oppenheimer in a report released on Friday, Benzinga reports. They currently have a $725.00 price objective on the Internet television network’s stock. Oppenheimer’s price objective indicates a potential upside of 30.62% from the company’s current price.

A number of other equities research analysts have also recently issued reports on the stock. Sanford C. Bernstein upped their price objective on shares of Netflix from $490.00 to $600.00 and gave the stock a “market perform” rating in a report on Friday. JPMorgan Chase & Co. upped their price objective on shares of Netflix from $610.00 to $650.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a report on Monday, February 26th. Redburn Atlantic upped their price objective on shares of Netflix from $550.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Finally, Macquarie upped their price objective on shares of Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $630.58.

Netflix Trading Down 9.1 %

Netflix stock opened at $555.04 on Friday. The company’s fifty day simple moving average is $605.65 and its 200-day simple moving average is $514.02. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix has a 12 month low of $315.62 and a 12 month high of $639.00. The stock has a market cap of $240.20 billion, a P/E ratio of 38.52, a P/E/G ratio of 1.64 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.46%. Netflix’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.88 earnings per share. As a group, sell-side analysts forecast that Netflix will post 17.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider David A. Hyman sold 47,574 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The disclosure for this sale can be found here. Insiders sold 268,335 shares of company stock valued at $151,619,811 over the last quarter. Corporate insiders own 2.45% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Authentikos Wealth Advisory LLC bought a new stake in Netflix during the third quarter worth about $25,000. Spartan Planning & Wealth Management bought a new stake in Netflix during the third quarter worth about $26,000. Carmel Capital Partners LLC grew its stake in Netflix by 290.0% during the third quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock worth $30,000 after buying an additional 58 shares during the last quarter. VitalStone Financial LLC grew its stake in Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after buying an additional 56 shares during the last quarter. Finally, Beaird Harris Wealth Management LLC grew its stake in Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after buying an additional 62 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Company Profile

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.