Netflix’s (NFLX) “Outperform” Rating Reiterated at BMO Capital Markets

BMO Capital Markets reissued their outperform rating on shares of Netflix (NASDAQ:NFLX) in a research note issued to investors on Wednesday morning,Benzinga reports. BMO Capital Markets currently has a $1,175.00 price target on the Internet television network’s stock, up from their previous price target of $1,000.00.

A number of other brokerages also recently commented on NFLX. Canaccord Genuity Group increased their price target on Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a research report on Monday, December 2nd. JPMorgan Chase & Co. decreased their price target on Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Guggenheim increased their price target on Netflix from $825.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, January 13th. UBS Group increased their price target on Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, The Goldman Sachs Group raised their target price on Netflix from $750.00 to $850.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,009.29.

Netflix Stock Down 0.7 %

NFLX stock opened at $977.59 on Wednesday. Netflix has a twelve month low of $542.01 and a twelve month high of $999.00. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average is $892.06 and its 200-day moving average is $764.95. The firm has a market capitalization of $417.88 billion, a PE ratio of 49.30, a P/E/G ratio of 1.53 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. Netflix’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the business posted $2.11 earnings per share. Sell-side analysts expect that Netflix will post 23.72 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Theodore A. Sarandos sold 1,278 shares of Netflix stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total value of $980,289.90. Following the sale, the chief executive officer now directly owns 2,556 shares of the company’s stock, valued at approximately $1,960,579.80. This trade represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,117 shares of company stock valued at $123,913,691. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Hedge funds have recently added to or reduced their stakes in the company. DigitalBridge Group Inc. lifted its stake in Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares during the last quarter. Nordea Investment Management AB increased its holdings in shares of Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after buying an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 buying an additional 29,726 shares during the period. Natixis Advisors LLC increased its holdings in shares of 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 buying an additional 11,921 shares during the period. Finally, M&T Bank Corp increased its holdings in shares of Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after buying an additional 1,684 shares during the period. Institutional investors own 80.93% of the company’s stock.

About Netflix

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.