Netflix (NASDAQ:NFLX) Earns Hold Rating from Canaccord Genuity Group

Netflix (NASDAQ:NFLX)‘s stock had its “hold” rating restated by equities research analysts at Canaccord Genuity Group in a note issued to investors on Friday, StockNewsAPI reports. They presently have a $585.00 target price on the Internet television network’s stock, down from their previous target price of $720.00. Canaccord Genuity Group’s target price points to a potential downside of 4.19% from the stock’s current price.

A number of other analysts also recently weighed in on the company. TD Cowen upped their target price on Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Guggenheim upped their target price on Netflix from $600.00 to $700.00 and gave the company a “buy” rating in a research report on Tuesday. Piper Sandler upped their price objective on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Morgan Stanley upped their price objective on Netflix from $600.00 to $700.00 and gave the stock an “overweight” rating in a research report on Friday, April 12th. Finally, Barclays upped their target price on Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $616.63.

Netflix Stock Down 0.5 %

NFLX stock opened at $610.56 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $264.23 billion, a PE ratio of 50.84, a PEG ratio of 1.65 and a beta of 1.22. Netflix has a 1-year low of $315.62 and a 1-year high of $639.00. The business’s 50 day simple moving average is $605.77 and its 200 day simple moving average is $511.86.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.88 EPS. As a group, research analysts anticipate that Netflix will post 17.05 EPS for the current year.

Insider Activity at Netflix

In related news, Director Ann Mather sold 3,673 shares of the stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total transaction of $2,203,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Netflix news, Director Ann Mather sold 3,673 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $2,203,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Netflix by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 36,438,570 shares of the Internet television network’s stock worth $17,741,211,000 after purchasing an additional 178,286 shares during the last quarter. State Street Corp increased its holdings in shares of Netflix by 0.4% in the first quarter. State Street Corp now owns 16,195,490 shares of the Internet television network’s stock worth $5,595,196,000 after buying an additional 62,507 shares during the period. Capital World Investors increased its holdings in shares of Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after buying an additional 78,320 shares during the period. Morgan Stanley increased its holdings in shares of Netflix by 11.1% in the fourth quarter. Morgan Stanley now owns 6,463,661 shares of the Internet television network’s stock worth $1,906,005,000 after buying an additional 644,162 shares during the period. Finally, Jennison Associates LLC increased its holdings in shares of Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after buying an additional 1,573,978 shares during the period. Institutional investors own 80.93% of the company’s stock.

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.