Netflix (NASDAQ:NFLX) Receives Outperform Rating from BMO Capital Markets

BMO Capital Markets restated their outperform rating on shares of Netflix (NASDAQ:NFLX) in a research report report published on Friday, Marketbeat Ratings reports. They currently have a $825.00 price target on the Internet television network’s stock, up from their prior price target of $770.00.

Other research analysts also recently issued reports about the company. Wedbush lifted their price objective on Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday. TD Cowen upped their price objective on Netflix from $775.00 to $820.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Macquarie reiterated an “outperform” rating and set a $795.00 price objective on shares of Netflix in a research report on Friday. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Finally, Oppenheimer lifted their price target on shares of Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-six have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $739.38.

Netflix Trading Up 11.1 %

NASDAQ:NFLX opened at $763.89 on Friday. Netflix has a 52-week low of $392.26 and a 52-week high of $766.28. 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 stock has a fifty day simple moving average of $696.38 and a 200-day simple moving average of $654.66. The company has a market capitalization of $329.24 billion, a PE ratio of 53.01, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (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 during the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter in the previous year, the business posted $3.29 earnings per share. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities research analysts expect that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the transaction, the chairman now owns 57 shares of the company’s stock, valued at approximately $35,991.51. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the transaction, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 225,167 shares of company stock worth $150,492,460. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Netflix by 0.4% during the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after acquiring an additional 149,341 shares during the period. Jennison Associates LLC grew its stake in shares of Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares during the last quarter. Baillie Gifford & Co. raised its holdings in shares of Netflix by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after purchasing an additional 106,756 shares in the last quarter. Legal & General Group Plc lifted its stake in Netflix by 3.1% during the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after purchasing an additional 104,332 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Netflix by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock worth $2,214,488,000 after buying an additional 83,762 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

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.