Oppenheimer Issues Pessimistic Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its target price decreased by stock analysts at Oppenheimer from $1,065.00 to $1,040.00 in a report released on Wednesday. The brokerage presently has an “outperform” rating on the Internet television network’s stock. Oppenheimer’s target price suggests a potential upside of 25.54% from the stock’s previous close.

A number of other analysts have also recently issued reports on the company. Loop Capital cut Netflix from a “buy” rating to a “hold” rating and increased their price objective for the stock from $800.00 to $950.00 in a report on Monday, December 16th. Canaccord Genuity Group increased their price target on shares of Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a report on Monday, December 2nd. Sanford C. Bernstein raised their price objective on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Jefferies Financial Group upped their target price on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Wedbush reissued an “outperform” rating and issued a $950.00 price target (up from $800.00) on shares of Netflix in a report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus price target of $845.82.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $828.40 on Wednesday. The firm has a market capitalization of $354.11 billion, a PE ratio of 46.88, a P/E/G ratio of 1.77 and a beta of 1.27. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $881.04 and a two-hundred day moving average price of $755.96. Netflix has a twelve month low of $475.26 and a twelve month high of $941.75.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Equities analysts forecast that Netflix will post 19.78 EPS for the current year.

Insiders Place Their Bets

In related news, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the sale, the director now owns 246 shares of the company’s stock, valued at $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Insiders have sold a total of 156,742 shares of company stock valued at $131,030,268 in the last quarter. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of large investors have recently modified their holdings of NFLX. DigitalBridge Group Inc. boosted its position in Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after acquiring an additional 9,451 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after purchasing an additional 156,958 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Netflix by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after purchasing an additional 29,726 shares during the period. Natixis Advisors LLC raised its holdings in Netflix by 2.0% in the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after purchasing an additional 11,921 shares in the last quarter. Finally, M&T Bank Corp lifted its position in Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after buying an additional 1,684 shares during the period. 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.