Netflix (NASDAQ:NFLX) Earns Outperform Rating from Analysts at CICC Research

CICC Research began coverage on shares of Netflix (NASDAQ:NFLX) in a research report sent to investors on Thursday, Benzinga reports. The brokerage issued an outperform rating and a $650.00 price objective on the Internet television network’s stock.

Other research analysts also recently issued reports about the company. Wells Fargo & Company raised their price target on Netflix from $650.00 to $726.00 and gave the company an overweight rating in a research note on Friday, April 19th. StockNews.com upgraded Netflix from a hold rating to a buy rating in a research note on Monday, February 26th. BMO Capital Markets restated an outperform rating and issued a $713.00 price target (up from $638.00) on shares of Netflix in a research note on Wednesday, April 17th. Rosenblatt Securities decreased their price target on Netflix from $554.00 to $540.00 and set a neutral rating for the company in a research note on Friday, April 19th. Finally, Piper Sandler lifted their target price on Netflix from $550.00 to $600.00 and gave the stock a neutral rating in a research note on Friday, April 12th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $631.15.

Netflix Stock Up 2.5 %

Shares of Netflix stock opened at $579.34 on Thursday. The business’s 50 day simple moving average is $602.57 and its 200 day simple moving average is $528.80. Netflix has a 52-week low of $317.95 and a 52-week high of $639.00. The firm has a market cap of $249.67 billion, a PE ratio of 40.20, a P/E/G ratio of 1.40 and a beta of 1.23. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. Netflix’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.88 EPS. On average, analysts predict that Netflix will post 18.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $566.35, for a total transaction of $723,795.30. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $7,413,521.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Theodore A. Sarandos sold 68,957 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the completion of the transaction, the chief executive officer now owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $566.35, for a total value of $723,795.30. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $7,413,521.50. The disclosure for this sale can be found here. Insiders sold 152,833 shares of company stock valued at $88,270,051 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors have recently modified their holdings of the business. Capital World Investors increased its holdings in Netflix by 0.7% in the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after purchasing an additional 78,320 shares in the last quarter. Jennison Associates LLC increased its holdings in Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares in the last quarter. Norges Bank acquired a new position in Netflix in the 4th quarter worth about $2,558,598,000. Northern Trust Corp increased its holdings in Netflix by 2.1% in the 3rd quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock worth $1,749,712,000 after purchasing an additional 96,938 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Netflix by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock worth $2,006,483,000 after purchasing an additional 78,298 shares in 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.