Netflix (NASDAQ:NFLX) Coverage Initiated by Analysts at CICC Research

Analysts at CICC Research began coverage on shares of Netflix (NASDAQ:NFLX) in a report released on Thursday, Benzinga reports. The brokerage set an “outperform” rating and a $650.00 price target on the Internet television network’s stock. CICC Research’s price objective would indicate a potential upside of 17.82% from the stock’s current price.

Several other brokerages have also recently issued reports on NFLX. Morgan Stanley lifted their price objective on Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a research note on Friday, April 12th. The Goldman Sachs Group increased their price objective on shares of Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Robert W. Baird raised their price objective on shares of Netflix from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. KeyCorp boosted their target price on shares of Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Finally, Wells Fargo & Company increased their target price on Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $631.15.

Netflix Price Performance

Shares of NFLX opened at $551.71 on Thursday. The company has a market cap of $237.73 billion, a P/E ratio of 38.29, a PEG ratio of 1.35 and a beta of 1.23. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average price is $603.12 and its 200 day moving average price is $524.53.

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, topping analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.88 earnings per share. On average, research analysts forecast that Netflix will post 18.13 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other news, CEO Theodore A. Sarandos sold 68,957 shares of Netflix stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the sale, the chief executive officer now owns 1,278 shares of the company’s stock, valued at $717,379.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the transaction, the chief executive officer now owns 1,278 shares of the company’s stock, valued at $717,379.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The disclosure for this sale can be found here. Insiders sold 133,839 shares of company stock worth $77,788,745 over the last 90 days. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

Institutional investors have recently modified their holdings of the company. Columbia Trust Co 01012016 grew its holdings in Netflix by 15.3% in 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 last quarter. Crumly & Associates Inc. boosted its position 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 worth $1,025,000 after buying an additional 83 shares in the last quarter. Venture Visionary Partners LLC grew its stake in 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 acquiring an additional 1,318 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings 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 valued at $252,085,000 after acquiring an additional 392,427 shares in the last quarter. Finally, Sandy Cove Advisors LLC raised its position 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 during the last quarter. Hedge funds and other 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.