BMO Capital Markets Reaffirms “Outperform” Rating for Netflix (NASDAQ:NFLX)

Netflix (NASDAQ:NFLX)‘s stock had its “outperform” rating restated by stock analysts at BMO Capital Markets in a research note issued on Tuesday, MarketBeat.com reports. They currently have a $1,425.00 price target on the Internet television network’s stock, up from their prior price target of $1,200.00. BMO Capital Markets’ price objective would indicate a potential upside of 13.97% from the stock’s current price.

NFLX has been the subject of a number of other research reports. Rosenblatt Securities upped their target price on shares of Netflix from $1,494.00 to $1,514.00 and gave the stock a “buy” rating in a report on Monday, April 21st. The Goldman Sachs Group increased their target price on shares of Netflix from $1,000.00 to $1,140.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 2nd. UBS Group increased their price target on shares of Netflix from $1,150.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Guggenheim reissued a “buy” rating and set a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Wedbush reissued an “outperform” rating and set a $1,400.00 price target on shares of Netflix in a research report on Monday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average target price of $1,227.39.

Netflix Price Performance

Netflix stock opened at $1,250.31 on Tuesday. Netflix has a 52-week low of $587.04 and a 52-week high of $1,341.15. The firm has a market capitalization of $532.09 billion, a price-to-earnings ratio of 59.09, a PEG ratio of 2.28 and a beta of 1.59. The company has a fifty day simple moving average of $1,228.61 and a 200-day simple moving average of $1,056.00. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the prior year, the firm earned $8.28 earnings per share. On average, equities analysts anticipate that Netflix will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Director Reed Hastings sold 26,977 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total transaction of $30,566,289.85. Following the transaction, the director directly owned 394 shares in the company, valued at approximately $446,421.70. This trade represents a 98.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total transaction of $2,945,320.38. Following the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,179,614.58. This trade represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 186,723 shares of company stock valued at $223,307,201. 1.37% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock worth $4,804,000 after purchasing an additional 257 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in shares of Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock worth $912,000 after purchasing an additional 144 shares in the last quarter. BIP Wealth LLC boosted its position in shares of Netflix by 23.8% during the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network’s stock worth $403,000 after purchasing an additional 87 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of Netflix by 39.1% during the 4th quarter. Proficio Capital Partners LLC now owns 2,161 shares of the Internet television network’s stock worth $1,926,000 after purchasing an additional 607 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its position in shares of Netflix by 9.8% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 438 shares of the Internet television network’s stock worth $390,000 after purchasing an additional 39 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

About Netflix

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.