JPMorgan Chase & Co. Cuts Netflix (NASDAQ:NFLX) Price Target to $124.00

Netflix (NASDAQ:NFLX) had its price target reduced by JPMorgan Chase & Co. from $127.50 to $124.00 in a research report released on Tuesday, MarketBeat.com reports. They currently have a neutral rating on the Internet television network’s stock.

Other equities research analysts have also recently issued reports about the stock. Citigroup reiterated a “neutral” rating and issued a $129.50 target price (up from $128.00) on shares of Netflix in a research report on Friday, October 3rd. Guggenheim reaffirmed a “buy” rating and set a $145.00 price objective on shares of Netflix in a research note on Wednesday, October 22nd. Benchmark reissued a “hold” rating on shares of Netflix in a research note on Wednesday, October 22nd. Cowen restated a “buy” rating on shares of Netflix in a report on Tuesday, October 7th. Finally, Argus set a $141.00 price target on Netflix in a report on Thursday, October 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $133.93.

Netflix Price Performance

NASDAQ:NFLX opened at $105.67 on Tuesday. The stock has a 50 day moving average of $116.28 and a two-hundred day moving average of $119.86. Netflix has a 12 month low of $82.11 and a 12 month high of $134.12. The firm has a market cap of $447.76 billion, a P/E ratio of 4.41, a price-to-earnings-growth ratio of 1.91 and a beta of 1.58. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, October 21st. The Internet television network reported $5.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $5.18. Netflix had a return on equity of 41.86% and a net margin of 24.05%.The firm had revenue of $11.32 billion for the quarter, compared to analyst estimates of $11.52 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The business’s revenue was up 17.2% on a year-over-year basis. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. On average, analysts expect that Netflix will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Director Reed Hastings sold 421,760 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $117.19, for a total transaction of $49,426,897.92. Following the completion of the sale, the director owned 3,940 shares of the company’s stock, valued at $461,736.48. This trade represents a 99.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 314,620 shares of the company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $109.98, for a total value of $34,603,166.08. Following the completion of the transaction, the insider directly owned 316,100 shares in the company, valued at approximately $34,765,942.40. This trade represents a 49.88% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,529,960 shares of company stock valued at $175,427,521 in the last ninety days. Company insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Imprint Wealth LLC purchased a new stake in Netflix in the third quarter valued at approximately $25,000. Retirement Wealth Solutions LLC acquired a new stake in shares of Netflix in the third quarter valued at $28,000. Legacy Investment Solutions LLC purchased a new stake in shares of Netflix in the 2nd quarter valued at $31,000. Steph & Co. lifted its stake in Netflix by 188.9% during the 3rd quarter. Steph & Co. now owns 26 shares of the Internet television network’s stock worth $31,000 after acquiring an additional 17 shares in the last quarter. Finally, Stephens Consulting LLC boosted its holdings in Netflix by 150.0% during the 2nd quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network’s stock valued at $33,000 after acquiring an additional 15 shares during the period. Hedge funds and other 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.