Oppenheimer Reaffirms “Outperform” Rating for Netflix (NASDAQ:NFLX)

Netflix (NASDAQ:NFLX)‘s stock had its “outperform” rating reaffirmed by research analysts at Oppenheimer in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $725.00 target price on the Internet television network’s stock. Oppenheimer’s target price would indicate a potential upside of 29.00% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. Sanford C. Bernstein boosted their target price on shares of Netflix from $490.00 to $600.00 and gave the company a “market perform” rating in a research report on Friday. The Goldman Sachs Group boosted their target price on shares of Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Canaccord Genuity Group cut shares of Netflix from a “buy” rating to a “hold” rating and dropped their target price for the company from $720.00 to $585.00 in a research report on Friday. TD Cowen lifted their price target on shares of Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Benchmark reaffirmed a “sell” rating and set a $440.00 price target on shares of Netflix in a report on Thursday. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $628.76.

Netflix Stock Performance

NFLX stock traded down $48.53 during trading hours on Friday, reaching $562.03. The stock had a trading volume of 8,718,819 shares, compared to its average volume of 4,349,879. The stock has a market capitalization of $243.22 billion, a PE ratio of 46.87, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a 50-day simple moving average of $605.77 and a 200 day simple moving average of $511.86. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00.

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

Insider Activity at Netflix

In other Netflix news, Director Jay C. Hoag sold 47,000 shares of Netflix stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $550.50, for a total transaction of $25,873,500.00. Following the transaction, the director now directly owns 431,034 shares of the company’s stock, valued at $237,284,217. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Netflix news, Director Jay C. Hoag sold 47,000 shares of Netflix stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $550.50, for a total transaction of $25,873,500.00. Following the transaction, the director now directly owns 431,034 shares of the company’s stock, valued at $237,284,217. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at approximately $17,003,651.20. The disclosure for this sale can be found here. Insiders have sold 268,335 shares of company stock valued at $151,619,811 over the last three months. 2.45% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

Large investors have recently added to or reduced their stakes in the stock. Columbia Trust Co 01012016 boosted its holdings in Netflix by 15.3% in the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock valued at $762,000 after acquiring an additional 208 shares in the last quarter. Crumly & Associates Inc. boosted its holdings in Netflix by 4.1% in the fourth quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock valued at $1,025,000 after acquiring an additional 83 shares in the last quarter. Venture Visionary Partners LLC boosted its holdings in Netflix by 15.4% in the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock valued at $4,795,000 after acquiring an additional 1,318 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Netflix by 142.6% in the third quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock valued at $252,085,000 after acquiring an additional 392,427 shares in the last quarter. Finally, Sandy Cove Advisors LLC boosted its holdings in shares of Netflix by 10.6% during the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock valued at $578,000 after buying an additional 114 shares in the last quarter. 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.