Netflix (NASDAQ:NFLX) Upgraded to “Buy” at StockNews.com

Netflix (NASDAQ:NFLX) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

NFLX has been the subject of a number of other research reports. JPMorgan Chase & Co. increased their target price on shares of Netflix from $650.00 to $750.00 and gave the stock an “overweight” rating in a research report on Friday, July 12th. Redburn Atlantic upped their target price on Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Piper Sandler lifted their price objective on shares of Netflix from $600.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, July 19th. Argus boosted their target price on Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $635.00 price target on shares of Netflix in a research report on Friday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $685.29.

Netflix Stock Performance

Shares of Netflix stock opened at $705.37 on Tuesday. The company has a market cap of $304.01 billion, a PE ratio of 48.95, a price-to-earnings-growth ratio of 1.40 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix has a 52 week low of $344.73 and a 52 week high of $715.66. The business has a 50 day moving average price of $663.97 and a 200-day moving average price of $641.83.

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

Insiders Place Their Bets

In related news, Director Leslie J. Kilgore sold 428 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $715.00, for a total value of $306,020.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Leslie J. Kilgore sold 428 shares of Netflix stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $715.00, for a total value of $306,020.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 197,226 shares of company stock worth $129,858,692. 1.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Denver PWM LLC purchased a new position in shares of Netflix during the 2nd quarter valued at about $25,000. Valued Wealth Advisors LLC raised its stake in Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares during the period. VitalStone Financial LLC boosted 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 worth $30,000 after purchasing an additional 56 shares during the period. Beaird Harris Wealth Management LLC increased its stake 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 worth $32,000 after purchasing an additional 62 shares in the last quarter. Finally, Scarborough Advisors LLC bought a new stake in shares of Netflix during the 4th quarter valued at $32,000. 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.