Netflix’s (NFLX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Netflix (NASDAQ:NFLX) in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has a $1,500.00 price objective on the Internet television network’s stock.

Other equities analysts have also recently issued research reports about the company. Loop Capital reiterated a “hold” rating on shares of Netflix in a research report on Tuesday, July 15th. Oppenheimer boosted their target price on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an “outperform” rating in a research report on Thursday, June 12th. Moffett Nathanson reiterated a “buy” rating and issued a $1,150.00 price target (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Canaccord Genuity Group reiterated a “buy” rating on shares of Netflix in a research note on Thursday, July 10th. Finally, Wedbush restated an “outperform” rating and set a $1,500.00 target price (up from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $1,291.41.

Netflix Stock Performance

Shares of NFLX stock opened at $1,209.24 on Friday. The stock’s 50-day moving average price is $1,232.59 and its 200 day moving average price is $1,063.17. The company has a quick ratio of 1.20, a current ratio of 1.34 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $514.62 billion, a PE ratio of 51.52, a price-to-earnings-growth ratio of 2.15 and a beta of 1.59. Netflix has a 52-week low of $587.04 and a 52-week high of $1,341.15.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. The business had revenue of $11.08 billion during the quarter, compared to analysts’ expectations of $11.04 billion. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.88 earnings per share. As a group, equities research analysts forecast that Netflix will post 24.58 EPS for the current year.

Insider Activity

In other Netflix news, Director Reed Hastings sold 26,977 shares of Netflix 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 value of $30,566,289.85. Following the completion of the sale, the director directly owned 394 shares of the company’s stock, valued at approximately $446,421.70. The trade was a 98.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the transaction, the chief financial officer directly owned 3,691 shares in the company, valued at approximately $4,179,614.58. This represents a 41.34% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,563 shares of company stock worth $223,147,201. 1.37% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of NFLX. Halbert Hargrove Global Advisors LLC grew its holdings in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after purchasing an additional 13 shares during the period. Maseco LLP acquired a new position in shares of Netflix in the 2nd quarter valued at $39,000. Brown Shipley& Co Ltd purchased a new stake in shares of Netflix during the 4th quarter valued at $27,000. Ransom Advisory Ltd purchased a new stake in shares of Netflix during the 2nd quarter valued at $47,000. Finally, Transce3nd LLC acquired a new stake in shares of Netflix during the 4th quarter worth $32,000. 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.