Netflix (NASDAQ:NFLX) Given New $90.00 Price Target at Bank of America

Netflix (NASDAQ:NFLX) had its price objective decreased by equities research analysts at Bank of America from $105.00 to $90.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the Internet television network’s stock. Bank of America’s price objective indicates a potential upside of 31.02% from the stock’s previous close.

Several other research firms have also weighed in on NFLX. President Capital lowered their target price on Netflix from $134.00 to $83.00 and set a “buy” rating on the stock in a report on Monday, July 20th. CLSA began coverage on Netflix in a research note on Monday, July 20th. They set an “outperform” rating for the company. New Street Research boosted their price objective on shares of Netflix from $96.00 to $102.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. KeyCorp decreased their price objective on shares of Netflix from $92.00 to $85.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 13th. Finally, Needham & Company LLC cut shares of Netflix from a “buy” rating to a “hold” rating in a research note on Wednesday. Three research analysts have rated the stock with a Strong Buy rating, thirty-three have assigned a Buy rating, seventeen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $91.85.

Netflix Stock Performance

NFLX opened at $68.69 on Wednesday. The stock has a market cap of $286.02 billion, a P/E ratio of 21.62, a P/E/G ratio of 0.99 and a beta of 1.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.14 and a quick ratio of 1.14. The stock’s 50 day simple moving average is $74.92 and its 200 day simple moving average is $80.20. Netflix has a 1-year low of $65.08 and a 1-year high of $124.86.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, October 20th. The Internet television network reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.05. The firm had revenue of $12.87 billion during the quarter, compared to the consensus estimate of $12.87 billion. Netflix had a return on equity of 40.02% and a net margin of 28.22%. Netflix’s quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the business posted $0.59 EPS. As a group, equities analysts anticipate that Netflix will post 3.59 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Spencer Neumann sold 9,248 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $75.79, for a total value of $700,905.92. Following the completion of the transaction, the chief financial officer owned 73,787 shares of the company’s stock, valued at approximately $5,592,316.73. The trade was a 11.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Theodore A. Sarandos sold 27,312 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $73.35, for a total transaction of $2,003,335.20. Following the completion of the transaction, the chief executive officer directly owned 178,954 shares of the company’s stock, valued at $13,126,275.90. The trade was a 13.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 179,045 shares of company stock valued at $13,132,194. Insiders own 1.24% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently modified their holdings of the company. Nykredit A S purchased a new stake in shares of Netflix in the second quarter valued at $105,697,000. Rockland Trust Co. increased its stake in Netflix by 27.5% in the third quarter. Rockland Trust Co. now owns 219,221 shares of the Internet television network’s stock valued at $15,253,000 after purchasing an additional 47,339 shares during the last quarter. Ritholtz Wealth Management lifted its position in Netflix by 25.0% during the first quarter. Ritholtz Wealth Management now owns 106,451 shares of the Internet television network’s stock worth $10,235,000 after buying an additional 21,260 shares during the period. Welch & Forbes LLC lifted its position in Netflix by 3,464.5% during the first quarter. Welch & Forbes LLC now owns 118,448 shares of the Internet television network’s stock worth $11,389,000 after buying an additional 115,125 shares during the period. Finally, USS Investment Management Ltd boosted its stake in Netflix by 31.8% in the 1st quarter. USS Investment Management Ltd now owns 886,527 shares of the Internet television network’s stock worth $85,244,000 after buying an additional 213,972 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix News Roundup

Here are the key news stories impacting Netflix this week:

• Positive Sentiment: Q3 results exceeded profit expectations: Netflix reported $0.87 in diluted EPS versus roughly $0.82 expected. Revenue rose 12% year over year to $12.87 billion, while net income increased 44% to approximately $3.66 billion and operating margin reached 34.6%. Netflix Q3 earnings results
• Positive Sentiment: Management remains confident in long-term revenue growth: CFO Spencer Neumann said Netflix could deliver double-digit revenue growth into 2027 through pricing, advertising and a broad content slate, even if viewing-hour growth remains modest. Netflix CFO revenue growth outlook
• Positive Sentiment: Content and engagement initiatives are planned: Netflix is targeting stronger U.S. execution and expects upcoming films, series and live programming—including projects involving Brad Pitt, Narnia and NFL games—to improve viewing and membership trends. Netflix content and engagement strategy

Netflix Company Profile

Netflix, Inc (NASDAQ:NFLX) is a global entertainment company that provides subscription-based streaming services. Its platform offers a broad selection of television series, films, documentaries, stand-up specials and other programming, including content produced by Netflix and licensed from third-party studios and creators.

The company also develops and distributes original productions under the Netflix brand and has expanded into additional entertainment offerings, including mobile and cloud-based games in select markets and live programming.