Netflix (NASDAQ:NFLX) Stock Rating Upgraded by Phillip Securities

Netflix (NASDAQ:NFLX) was upgraded by Phillip Securities from a “moderate buy” rating to a “strong-buy” rating in a research note issued on Sunday,Zacks.com reports.

A number of other equities research analysts also recently weighed in on NFLX. DZ Bank restated a “buy” rating on shares of Netflix in a research report on Friday, April 17th. Oppenheimer set a $85.00 price objective on Netflix and gave the stock an “outperform” rating in a research note on Friday. Jefferies Financial Group lowered their target price on Netflix from $128.00 to $110.00 and set a “buy” rating on the stock in a report on Wednesday, June 10th. KeyCorp reiterated an “overweight” rating and issued a $92.00 price target (down from $115.00) on shares of Netflix in a research report on Monday, July 13th. Finally, TD Cowen cut their price target on shares of Netflix from $112.00 to $100.00 and set a “buy” rating for the company in a report on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-three have issued a Buy rating, seventeen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $104.21.

Netflix Stock Down 2.0%

Netflix stock opened at $67.60 on Friday. Netflix has a 52 week low of $65.08 and a 52 week high of $126.71. The stock has a market cap of $284.65 billion, a price-to-earnings ratio of 21.28, a PEG ratio of 0.88 and a beta of 1.52. The company’s 50-day moving average price is $79.80 and its two-hundred day moving average price is $86.67. The company has a current ratio of 1.14, a quick ratio of 1.41 and a debt-to-equity ratio of 0.39.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 16th. The Internet television network reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.01. The company had revenue of $12.56 billion during the quarter, compared to analyst estimates of $12.58 billion. Netflix had a net margin of 28.22% and a return on equity of 40.02%. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.72 EPS. On average, analysts expect that Netflix will post 3.6 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Gregory K. Peters sold 27,312 shares of the stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $88.69, for a total value of $2,422,301.28. Following the completion of the transaction, the chief executive officer owned 120,931 shares in the company, valued at $10,725,370.39. This trade represents a 18.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bradford L. Smith sold 35,990 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $77.52, for a total value of $2,789,944.80. Following the sale, the director owned 79,690 shares in the company, valued at approximately $6,177,568.80. The trade was a 31.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 899,839 shares of company stock worth $80,141,661. Corporate insiders own 1.24% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently modified their holdings of the stock. Imprint Wealth LLC acquired a new position in Netflix in the 3rd quarter worth about $25,000. Wealth Watch Advisors INC acquired a new position in shares of Netflix during the 3rd quarter worth about $103,000. Strategic Wealth Investment Group LLC bought a new stake in Netflix during the 2nd quarter valued at approximately $121,000. Wiser Advisor Group LLC acquired a new stake in Netflix in the 3rd quarter valued at approximately $114,000. Finally, Beaird Harris Wealth Management LLC increased its position in Netflix by 9.6% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 114 shares of the Internet television network’s stock worth $137,000 after buying an additional 10 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix News Summary

Here are the key news stories impacting Netflix this week:

• Negative Sentiment: Netflix’s Q2 results were overshadowed by a revenue miss, lower margins, and management’s warning that revenue growth should slow to around 12% in Q3. Article Title
• Negative Sentiment: Analysts are trimming forecasts and price targets as investors worry that engagement gains are not fully offsetting slowing growth and pricing-driven revenue expansion. Article Title
• Negative Sentiment: There are renewed concerns that Netflix’s recent growth has relied more on price increases than subscriber growth, raising questions about how durable its current momentum is. Article Title

Netflix Company Profile

Netflix, Inc (NASDAQ: NFLX) is a global entertainment company that provides subscription-based streaming of films, television series, documentaries and other video content. Founded in 1997 by Reed Hastings and Marc Randolph and headquartered in Los Gatos, California, the company began as a DVD-by-mail rental service and introduced streaming video in 2007. Netflix later expanded into producing and distributing original programming, beginning notable original hits in the 2010s, and now operates a content production and distribution ecosystem alongside its licensing activity.

The company’s primary product is its on-demand streaming service, which can be accessed on a wide range of internet-connected devices and delivered through a suite of apps and web platforms.