Netflix (NASDAQ:NFLX) Stock Price Up 1% on Analyst Upgrade

Shares of Netflix, Inc. (NASDAQ:NFLXGet Free Report) rose 1% during trading on Tuesday after TD Cowen raised their price target on the stock from $725.00 to $775.00. TD Cowen currently has a buy rating on the stock. Netflix traded as high as $693.84 and last traded at $692.90. Approximately 708,867 shares changed hands during trading, a decline of 82% from the average daily volume of 3,894,914 shares. The stock had previously closed at $685.74.

A number of other analysts have also commented on NFLX. Jefferies Financial Group reissued a “buy” rating and issued a $655.00 price objective on shares of Netflix in a research report on Wednesday, May 15th. Oppenheimer restated an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a report on Friday, April 19th. Canaccord Genuity Group lowered Netflix from a “buy” rating to a “hold” rating and dropped their target price for the stock from $720.00 to $585.00 in a report on Friday, April 19th. 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. Finally, Wells Fargo & Company boosted their price target on Netflix from $650.00 to $726.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $638.77.

View Our Latest Analysis on Netflix

Insider Buying and Selling

In other Netflix news, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total value of $354,480.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, Director Anne M. Sweeney sold 633 shares of Netflix stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total transaction of $354,480.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction on Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the transaction, the chairman now owns 57 shares in the company, valued at approximately $38,217.93. The disclosure for this sale can be found here. Insiders have sold 71,385 shares of company stock valued at $44,469,351 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Valued Wealth Advisors LLC grew its stake in Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares during the period. Indiana Trust & Investment Management CO grew its holdings in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares during the last quarter. VitalStone Financial LLC increased its position in shares of 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 acquiring an additional 56 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Netflix in the 4th quarter worth about $32,000. Finally, Beaird Harris Wealth Management LLC lifted its position in Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Price Performance

The firm has a market cap of $295.55 billion, a price-to-earnings ratio of 47.59, a P/E/G ratio of 1.49 and a beta of 1.27. The business has a 50 day simple moving average of $646.07 and a 200-day simple moving average of $594.86. 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:NFLXGet Free Report) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business’s revenue was up 14.8% on a year-over-year basis. During the same period last year, the business earned $2.88 EPS. Equities research analysts expect that Netflix, Inc. will post 18.31 earnings per share for the current year.

About Netflix

(Get Free Report)

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.

Read More

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.