Netflix (NASDAQ:NFLX) Upgraded to “Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Netflix (NASDAQ:NFLX) from a hold rating to a buy rating in a report released on Wednesday morning, MarketBeat.com reports. They currently have $1,150.00 target price on the Internet television network’s stock, up from their prior target price of $940.00.

A number of other research firms also recently weighed in on NFLX. Bank of America lifted their target price on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a report on Wednesday. Jefferies Financial Group boosted their price objective on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Oppenheimer lowered their target price on shares of Netflix from $1,065.00 to $1,040.00 and set an “outperform” rating on the stock in a report on Wednesday, January 15th. Guggenheim boosted their price target on Netflix from $825.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Finally, Needham & Company LLC raised their price objective on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $993.82.

Netflix Stock Performance

Shares of NFLX stock opened at $953.99 on Wednesday. Netflix has a 52 week low of $481.40 and a 52 week high of $999.00. The company has a market capitalization of $407.79 billion, a price-to-earnings ratio of 53.99, a PEG ratio of 1.40 and a beta of 1.27. The company has a 50-day simple moving average of $886.64 and a 200 day simple moving average of $762.07. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.11 earnings per share. On average, sell-side analysts predict that Netflix will post 19.76 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Richard N. Barton sold 5,698 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $756.00, for a total value of $4,307,688.00. Following the transaction, the director now owns 246 shares in the company, valued at approximately $185,976. The trade was a 95.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 152,198 shares of company stock valued at $127,616,898. 1.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC acquired a new position in Netflix in the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Netflix during the 3rd quarter valued at $37,000. FSA Wealth Management LLC bought a new position in Netflix during the third quarter worth $38,000. Finally, First Personal Financial Services acquired a new stake in Netflix in the third quarter worth $40,000. 80.93% of the stock is owned by institutional investors and hedge funds.

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.