Needham & Company LLC Upgrades Netflix (NASDAQ:NFLX) to Buy

Netflix (NASDAQ:NFLX) was upgraded by stock analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Marketbeat.com reports. The firm currently has a $700.00 target price on the Internet television network’s stock. Needham & Company LLC’s target price would suggest a potential upside of 14.65% from the company’s current price.

Other equities research analysts have also issued reports about the company. Citigroup raised their price objective on Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. Barclays raised their price objective on Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Canaccord Genuity Group lifted their price target on Netflix from $575.00 to $625.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. BMO Capital Markets restated an “outperform” rating and set a $713.00 target price (up from $638.00) on shares of Netflix in a research note on Wednesday. Finally, KeyCorp lifted their price target on Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. One investment 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 stock. Based on data from MarketBeat, Netflix has an average rating of “Moderate Buy” and an average target price of $628.76.

Netflix Stock Down 0.5 %

NFLX stock opened at $610.56 on Friday. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The business’s 50-day moving average is $605.77 and its two-hundred day moving average is $511.86. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $264.23 billion, a price-to-earnings ratio of 50.84, a P/E/G ratio of 1.65 and a beta of 1.22.

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

Insider Transactions at Netflix

In other news, Director Ann Mather sold 3,673 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total transaction of $2,203,800.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Netflix news, Director Jay C. Hoag sold 47,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total transaction of $25,873,500.00. Following the completion of the transaction, the director now owns 431,034 shares of the company’s stock, valued at $237,284,217. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 3,673 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $2,203,800.00. The disclosure for this sale can be found here. Insiders have sold 268,335 shares of company stock valued at $151,619,811 in the last quarter. 2.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Hedge funds have recently bought and sold shares of the stock. Authentikos Wealth Advisory LLC purchased a new stake in shares of Netflix in the third quarter valued at $25,000. Spartan Planning & Wealth Management purchased a new stake in shares of Netflix in the third quarter valued at $26,000. Carmel Capital Partners LLC grew its position 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 purchasing an additional 58 shares during the period. VitalStone Financial LLC grew its position 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 purchasing an additional 56 shares during the period. Finally, Beaird Harris Wealth Management LLC grew its position 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 purchasing an additional 62 shares during the period. Hedge funds and other institutional investors 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.