Netflix (NFLX) Stock Rating Reaffirmed by JPMorgan Chase & Co.

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JPMorgan Chase & Co. restated their buy rating on shares of Netflix (NASDAQ:NFLX) in a research note published on Friday. They currently have a $415.00 price target on the Internet television network’s stock.

Other equities research analysts also recently issued reports about the company. Goldman Sachs Group reiterated a $375.13 rating and issued a $470.00 target price on shares of Netflix in a report on Wednesday, July 18th. Monness Crespi & Hardt lifted their target price on Netflix from $375.00 to $460.00 and gave the stock a buy rating in a report on Tuesday, June 19th. Oppenheimer reiterated a buy rating and issued a $370.00 target price on shares of Netflix in a report on Thursday, June 14th. Macquarie set a $430.00 target price on Netflix and gave the stock a buy rating in a report on Thursday, June 28th. Finally, Bank of America lifted their target price on Netflix from $352.00 to $460.00 and gave the stock a buy rating in a report on Wednesday, June 27th. Five investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and thirty-two have issued a buy rating to the company. Netflix presently has an average rating of Buy and an average price target of $355.45.

NFLX stock traded up $18.46 during mid-day trading on Friday, reaching $339.56. The company’s stock had a trading volume of 14,804,801 shares, compared to its average volume of 10,801,604. The company has a market cap of $162.92 billion, a P/E ratio of 271.65, a PEG ratio of 4.67 and a beta of 0.89. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.54 and a current ratio of 1.54. Netflix has a 12 month low of $178.38 and a 12 month high of $423.21.

Netflix (NASDAQ:NFLX) last issued its earnings results on Monday, July 16th. The Internet television network reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.05. The business had revenue of $3.91 billion during the quarter, compared to the consensus estimate of $3.94 billion. Netflix had a return on equity of 25.66% and a net margin of 7.13%. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. On average, research analysts predict that Netflix will post 2.67 earnings per share for the current year.

In related news, CFO David B. Wells sold 1,000 shares of the company’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $399.01, for a total transaction of $399,010.00. Following the completion of the sale, the chief financial officer now owns 1,000 shares in the company, valued at $399,010. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David A. Hyman sold 38,976 shares of the company’s stock in a transaction on Thursday, July 19th. The stock was sold at an average price of $371.20, for a total value of $14,467,891.20. Following the sale, the general counsel now owns 43,895 shares of the company’s stock, valued at approximately $16,293,824. The disclosure for this sale can be found here. Insiders have sold 420,428 shares of company stock valued at $149,631,503 in the last quarter. 4.29% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. Berkeley Capital Partners LLC lifted its holdings in Netflix by 17.3% during the 2nd quarter. Berkeley Capital Partners LLC now owns 1,008 shares of the Internet television network’s stock worth $273,000 after purchasing an additional 149 shares in the last quarter. Capstone Financial Advisors Inc. lifted its holdings in Netflix by 17.8% during the 2nd quarter. Capstone Financial Advisors Inc. now owns 1,006 shares of the Internet television network’s stock worth $394,000 after purchasing an additional 152 shares in the last quarter. Cornerstone Advisors Inc. lifted its holdings in Netflix by 9.6% during the 2nd quarter. Cornerstone Advisors Inc. now owns 1,740 shares of the Internet television network’s stock worth $681,000 after purchasing an additional 153 shares in the last quarter. Cobblestone Capital Advisors LLC NY lifted its holdings in Netflix by 22.1% during the 2nd quarter. Cobblestone Capital Advisors LLC NY now owns 855 shares of the Internet television network’s stock worth $335,000 after purchasing an additional 155 shares in the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in Netflix by 30.6% during the 3rd quarter. Sound Income Strategies LLC now owns 675 shares of the Internet television network’s stock worth $253,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 73.76% of the company’s stock.

About Netflix

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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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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