Netflix’s (NFLX) “Overweight” Rating Reaffirmed at Pacific Crest

Netflix, Inc. (NASDAQ:NFLX)‘s stock had its “overweight” rating reiterated by research analysts at Pacific Crest in a research note issued to investors on Friday. They currently have a $170.00 price objective on the Internet television network’s stock. Pacific Crest’s price target suggests a potential upside of 20.41% from the company’s previous close.

A number of other research analysts have also commented on NFLX. FBR & Co reaffirmed a “market perform” rating and issued a $100.00 price objective on shares of Netflix in a report on Tuesday, January 17th. Jefferies Group LLC upped their price objective on Netflix from $80.00 to $95.00 and gave the company an “underperform” rating in a report on Thursday, January 19th. Instinet upped their price objective on Netflix from $130.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, January 19th. Piper Jaffray Companies reiterated an “overweight” rating and set a $166.00 target price on shares of Netflix in a research report on Thursday, April 6th. Finally, BMO Capital Markets upped their target price on Netflix from $115.00 to $150.00 and gave the company a “market perform” rating in a research report on Thursday, January 19th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and twenty-six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $145.35.

Analyst Recommendations for Netflix (NASDAQ:NFLX)

Netflix (NASDAQ:NFLX) traded up 1.144% during midday trading on Friday, reaching $142.795. 662,990 shares of the company’s stock traded hands. The stock has a market capitalization of $61.46 billion, a price-to-earnings ratio of 332.081 and a beta of 1.27. The company’s 50-day moving average price is $143.46 and its 200 day moving average price is $130.69. Netflix has a 52 week low of $84.50 and a 52 week high of $148.29.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, April 17th. The Internet television network reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.03. Netflix had a return on equity of 7.51% and a net margin of 2.11%. The firm had revenue of $2.64 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 34.7% on a year-over-year basis. On average, equities research analysts expect that Netflix will post $1.05 earnings per share for the current year.

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In other Netflix news, insider Neil D. Hunt sold 10,000 shares of Netflix stock in a transaction dated Monday, February 6th. The stock was sold at an average price of $140.00, for a total transaction of $1,400,000.00. Following the completion of the sale, the insider now owns 469,952 shares of the company’s stock, valued at $65,793,280. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard N. Barton sold 1,000 shares of Netflix stock in a transaction dated Tuesday, April 18th. The stock was sold at an average price of $147.39, for a total value of $147,390.00. Following the sale, the director now directly owns 8,012 shares of the company’s stock, valued at approximately $1,180,888.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 236,281 shares of company stock valued at $34,047,161. 4.90% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of NFLX. Linscomb & Williams Inc. raised its stake in shares of Netflix by 0.9% in the fourth quarter. Linscomb & Williams Inc. now owns 3,269 shares of the Internet television network’s stock valued at $405,000 after buying an additional 29 shares during the period. Wetherby Asset Management Inc. raised its stake in Netflix by 0.5% in the fourth quarter. Wetherby Asset Management Inc. now owns 5,979 shares of the Internet television network’s stock worth $740,000 after buying an additional 32 shares during the period. Edmond DE Rothschild Italia SGR SPA raised its stake in Netflix by 0.9% in the third quarter. Edmond DE Rothschild Italia SGR SPA now owns 3,829 shares of the Internet television network’s stock worth $377,000 after buying an additional 33 shares during the period. Formidable Asset Management LLC raised its stake in Netflix by 0.8% in the fourth quarter. Formidable Asset Management LLC now owns 4,695 shares of the Internet television network’s stock worth $582,000 after buying an additional 36 shares during the period. Finally, Dowling & Yahnke LLC raised its stake in Netflix by 1.0% in the third quarter. Dowling & Yahnke LLC now owns 4,358 shares of the Internet television network’s stock worth $429,000 after buying an additional 44 shares during the period. 80.42% of the stock is owned by hedge funds and other institutional investors.

Netflix Company Profile

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

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