Zacks Investment Research upgraded shares of Netflix (NASDAQ:NFLX) from a hold rating to a buy rating in a report published on Friday. Zacks Investment Research currently has $329.00 price target on the Internet television network’s stock.
According to Zacks, “Netflix's shares have vastly outperformed the industry in the past year. The company’s efforts to attract viewers through investing in more regional programming is leading to robust addition of international subscribers. The company remains confident of adding more subscribers as the trend of binge viewing is catching up fast. Netflix now has 117.58 million subscribers globally. We believe continuing subscriber addition and expanding content portfolio are the key catalysts that will help Netflix to sustain growth going forward. Estimates have been stable lately ahead of the company’s Q1 earnings release. However, increasing market spends and higher investments on original/acquired content will continue to hurt profitability, at least in the near term. The company has mixed record of earnings surprises in recent quarters.”
A number of other analysts have also commented on NFLX. ValuEngine raised Netflix from a hold rating to a buy rating in a research note on Monday, April 2nd. Vetr raised Netflix from a hold rating to a buy rating and set a $292.74 price target for the company in a research note on Tuesday. Robert W. Baird raised their price target on Netflix from $240.00 to $280.00 and gave the stock a neutral rating in a research note on Monday, April 2nd. Citigroup raised their price target on Netflix from $250.00 to $305.00 and gave the stock a neutral rating in a research note on Wednesday, March 28th. Finally, Wells Fargo set a $285.00 price objective on Netflix and gave the company a buy rating in a research report on Tuesday, January 23rd. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $257.79.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, January 22nd. The Internet television network reported $0.41 EPS for the quarter, hitting analysts’ consensus estimates of $0.41. Netflix had a return on equity of 17.20% and a net margin of 4.78%. The company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter last year, the firm posted $0.15 earnings per share. The firm’s revenue was up 32.6% on a year-over-year basis. equities research analysts anticipate that Netflix will post 2.73 earnings per share for the current year.
In other Netflix news, insider Theodore A. Sarandos sold 163,747 shares of the business’s stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $262.91, for a total transaction of $43,050,723.77. Following the completion of the sale, the insider now directly owns 23,953 shares in the company, valued at approximately $6,297,483.23. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard N. Barton sold 700 shares of the business’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $211.27, for a total value of $147,889.00. Following the sale, the director now owns 36,022 shares of the company’s stock, valued at $7,610,367.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 452,009 shares of company stock valued at $121,912,410. Corporate insiders own 4.90% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. Navellier & Associates Inc lifted its position in shares of Netflix by 8.4% during the 4th quarter. Navellier & Associates Inc now owns 3,991 shares of the Internet television network’s stock valued at $766,000 after buying an additional 309 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Netflix by 4.1% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 46,013 shares of the Internet television network’s stock valued at $8,833,000 after buying an additional 1,801 shares in the last quarter. Assetmark Inc. lifted its position in shares of Netflix by 1,148.5% during the 4th quarter. Assetmark Inc. now owns 14,395 shares of the Internet television network’s stock valued at $2,763,000 after buying an additional 13,242 shares in the last quarter. Maryland Capital Management purchased a new position in shares of Netflix during the 4th quarter valued at about $249,000. Finally, Pittenger & Anderson Inc. lifted its position in shares of Netflix by 14.3% during the 4th quarter. Pittenger & Anderson Inc. now owns 12,480 shares of the Internet television network’s stock valued at $2,396,000 after buying an additional 1,565 shares in the last quarter. Institutional investors and hedge funds own 81.62% of the company’s stock.
Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.
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