Netflix (NFLX) – Analysts’ Recent Ratings Changes

Netflix (NASDAQ: NFLX) has recently received a number of price target changes and ratings updates:

• 9/15/2024 – Netflix was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 9/7/2024 – Netflix was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 9/5/2024 – Netflix is now covered by analysts at China Renaissance. They set a “hold” rating and a $680.00 price target on the stock.
• 8/30/2024 – Netflix had its price target raised by analysts at Pivotal Research from $800.00 to $900.00. They now have a “buy” rating on the stock.
• 8/29/2024 – Netflix was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 8/27/2024 – Netflix had its price target raised by analysts at Evercore ISI from $710.00 to $750.00. They now have an “outperform” rating on the stock.
• 7/30/2024 – Netflix had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $725.00 price target on the stock.
• 7/22/2024 – Netflix had its price target raised by analysts at Citigroup Inc. from $660.00 to $675.00. They now have a “neutral” rating on the stock.
• 7/19/2024 – Netflix had its price target raised by analysts at Evercore ISI from $700.00 to $710.00. They now have an “outperform” rating on the stock.
• 7/19/2024 – Netflix had its price target raised by analysts at Rosenblatt Securities from $554.00 to $635.00. They now have a “neutral” rating on the stock.
• 7/19/2024 – Netflix had its price target raised by analysts at The Goldman Sachs Group, Inc. from $650.00 to $659.00. They now have a “neutral” rating on the stock.
• 7/19/2024 – Netflix had its price target raised by analysts at Piper Sandler from $600.00 to $650.00. They now have a “neutral” rating on the stock.
• 7/19/2024 – Netflix had its price target raised by analysts at Sanford C. Bernstein from $600.00 to $625.00. They now have a “market perform” rating on the stock.
• 7/19/2024 – Netflix had its price target raised by analysts at UBS Group AG from $685.00 to $750.00. They now have a “buy” rating on the stock.
• 7/19/2024 – Netflix had its price target raised by analysts at Redburn Atlantic from $740.00 to $760.00. They now have a “buy” rating on the stock.
• 7/19/2024 – Netflix had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $700.00 price target on the stock.

Netflix Stock Performance

NFLX stock opened at $697.06 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The business’s fifty day simple moving average is $660.00 and its two-hundred day simple moving average is $637.88. Netflix, Inc. has a twelve month low of $344.73 and a twelve month high of $711.33. The firm has a market cap of $299.16 billion, a price-to-earnings ratio of 48.37, a PEG ratio of 1.40 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating the consensus estimate of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the firm posted $3.29 earnings per share. Analysts predict that Netflix, Inc. will post 19.08 earnings per share for the current year.

Insider Activity

In other news, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the transaction, the chairman now owns 57 shares in the company, valued at $38,217.93. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 22,526 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total value of $15,103,457.74. Following the sale, the chairman now directly owns 57 shares in the company, valued at approximately $38,217.93. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 196,798 shares of company stock worth $129,552,672. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of institutional investors have recently added to or reduced their stakes in the stock. Heartland Bank & Trust Co boosted its position in Netflix by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after purchasing an additional 15 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp boosted its holdings in Netflix by 2.8% in the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after acquiring an additional 17 shares in the last quarter. Private Portfolio Partners LLC boosted its holdings in Netflix by 1.7% in the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after acquiring an additional 17 shares in the last quarter. FAS Wealth Partners Inc. boosted its holdings in Netflix by 1.5% in the second quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock worth $786,000 after acquiring an additional 17 shares in the last quarter. Finally, Clear Point Advisors Inc. boosted its holdings in Netflix by 3.9% in the second quarter. Clear Point Advisors Inc. now owns 449 shares of the Internet television network’s stock worth $303,000 after acquiring an additional 17 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

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.