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

Netflix (NASDAQ:NFLX)‘s stock had its “outperform” rating reissued by stock analysts at Oppenheimer in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $725.00 price objective on the Internet television network’s stock. Oppenheimer’s target price suggests a potential upside of 29.00% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Canaccord Genuity Group downgraded Netflix from a “buy” rating to a “hold” rating and lowered their price objective for the company from $720.00 to $585.00 in a research report on Friday. The Goldman Sachs Group boosted their price target on Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Benchmark reissued a “sell” rating and set a $440.00 price target on shares of Netflix in a research report on Thursday. Piper Sandler boosted their price target on Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. Finally, Sanford C. Bernstein boosted their price target on Netflix from $490.00 to $600.00 and gave the company a “market perform” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $628.76.

Netflix Price Performance

NFLX stock traded down $48.53 during midday trading on Friday, hitting $562.03. 8,718,819 shares of the stock were exchanged, compared to its average volume of 4,349,879. The stock’s 50-day moving average price is $605.77 and its 200-day moving average price is $511.86. The stock has a market cap of $243.22 billion, a price-to-earnings ratio of 46.87, a PEG ratio of 1.65 and a beta of 1.22. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. Netflix’s revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.88 earnings per share. Research analysts predict that Netflix will post 17.05 earnings per share for the current year.

Insider Activity

In other news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now owns 28 shares in the company, valued at $17,091.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the transaction, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at $717,379.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Reed Hastings sold 20,566 shares of the firm’s 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 sale, the chairman now directly owns 28 shares in the company, valued at $17,091.76. The disclosure for this sale can be found here. Insiders sold 268,335 shares of company stock worth $151,619,811 over the last quarter. Corporate insiders own 2.45% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several hedge funds and other institutional investors have recently made changes to their positions in NFLX. Authentikos Wealth Advisory LLC bought a new stake in shares of Netflix in the third quarter valued at about $25,000. Spartan Planning & Wealth Management bought a new stake in shares of Netflix in the third quarter valued at about $26,000. Carmel Capital Partners LLC lifted its stake in shares of Netflix by 290.0% in the third quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock valued at $30,000 after buying an additional 58 shares during the period. VitalStone Financial LLC lifted its stake in shares of Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after buying an additional 56 shares during the period. Finally, Beaird Harris Wealth Management LLC lifted its stake in shares of Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after buying an additional 62 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

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.