Netflix (NASDAQ:NFLX) Lifted to Buy at Needham & Company LLC

Needham & Company LLC upgraded shares of Netflix (NASDAQ:NFLX) from a hold rating to a buy rating in a research report released on Friday, Marketbeat reports. They currently have $700.00 price objective on the Internet television network’s stock.

NFLX has been the subject of a number of other research reports. Wells Fargo & Company upped their price objective on shares of Netflix from $650.00 to $726.00 and gave the company an overweight rating in a research report on Friday. The Goldman Sachs Group raised their price objective on Netflix from $500.00 to $565.00 and gave the stock a neutral rating in a research report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on Netflix from $525.00 to $550.00 and gave the company a hold rating in a research report on Monday, April 15th. BMO Capital Markets reaffirmed an outperform rating and issued a $713.00 target price (up from $638.00) on shares of Netflix in a research report on Wednesday, April 17th. Finally, Morgan Stanley boosted their price target on shares of Netflix from $600.00 to $700.00 and gave the company an overweight rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $630.58.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $555.04 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average price of $605.65 and a 200 day moving average price of $514.99. The company has a market cap of $240.20 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 1.49 and a beta of 1.22. Netflix has a twelve month low of $315.62 and a twelve month high of $639.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.46% and a net margin of 18.42%. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same period in the prior year, the business earned $2.88 earnings per share. Netflix’s revenue for the quarter was up 14.8% compared to the same quarter last year. Research analysts predict that Netflix will post 17.13 earnings per share for the current year.

Insider Activity

In other news, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the transaction, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Netflix news, Director Jay C. Hoag sold 47,000 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $550.50, for a total transaction of $25,873,500.00. Following the completion of the sale, the director now owns 431,034 shares in the company, valued at approximately $237,284,217. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares in the company, valued at $17,091.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 268,335 shares of company stock valued at $151,619,811. Company insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Columbia Trust Co 01012016 grew its holdings in Netflix by 15.3% during the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock valued at $762,000 after purchasing an additional 208 shares during the period. Crumly & Associates Inc. grew its holdings in shares of Netflix by 4.1% in the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock valued at $1,025,000 after buying an additional 83 shares during the period. Venture Visionary Partners LLC increased its position in shares of Netflix by 15.4% in the 4th quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock valued at $4,795,000 after buying an additional 1,318 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in Netflix by 142.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock worth $252,085,000 after buying an additional 392,427 shares during the period. Finally, Sandy Cove Advisors LLC lifted its holdings in Netflix by 10.6% during the fourth quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock worth $578,000 after acquiring an additional 114 shares in the last quarter. 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.