Netflix (NASDAQ:NFLX) Raised to “Buy” at Needham & Company LLC

Needham & Company LLC upgraded shares of Netflix (NASDAQ:NFLX) from a hold rating to a buy rating in a report released on Friday morning, Marketbeat reports. The firm currently has $700.00 price objective on the Internet television network’s stock.

A number of other equities analysts also recently commented on NFLX. StockNews.com raised shares of Netflix from a hold rating to a buy rating in a research note on Monday, February 26th. TD Cowen boosted their price objective on Netflix from $600.00 to $725.00 and gave the stock a buy rating in a research note on Monday, April 8th. The Goldman Sachs Group increased their target price on Netflix from $500.00 to $565.00 and gave the company a neutral rating in a research note on Wednesday, January 24th. Bank of America raised their target price on Netflix from $585.00 to $650.00 and gave the company a buy rating in a report on Wednesday, January 24th. Finally, Sanford C. Bernstein increased their price objective on shares of Netflix from $390.00 to $490.00 and gave the company a market perform rating in a research report on Wednesday, January 24th. One equities research 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 company has an average rating of Moderate Buy and an average target price of $630.58.

Netflix Price Performance

Shares of Netflix stock opened at $554.60 on Friday. The stock has a market capitalization of $238.98 billion, a P/E ratio of 38.49, a PEG ratio of 1.49 and a beta of 1.22. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average price is $605.58 and its 200 day moving average price is $516.27. Netflix has a twelve month low of $315.62 and a twelve month high of $639.00.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate 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 29.62% and a net margin of 18.42%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.88 EPS. As a group, research analysts anticipate that Netflix will post 17.13 earnings per share for the current year.

Insider Buying and Selling

In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of Netflix stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the transaction, the chief executive officer now directly owns 1,278 shares in the company, valued at $717,379.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Gregory K. Peters sold 13,655 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total value of $7,425,589.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $7,118,342. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Theodore A. Sarandos sold 68,957 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the transaction, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at $717,379.74. The disclosure for this sale can be found here. Insiders have sold a total of 268,335 shares of company stock worth $151,619,811 over the last quarter. 2.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Netflix

Large investors have recently made changes to their positions in the company. Authentikos Wealth Advisory LLC acquired a new stake in Netflix in the 3rd quarter valued at approximately $25,000. Spartan Planning & Wealth Management acquired a new position in Netflix during the 3rd quarter worth $26,000. Carmel Capital Partners LLC grew its stake in shares of Netflix by 290.0% in the third quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 58 shares in the last quarter. VitalStone Financial LLC increased its holdings in shares of Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the period. Finally, Beaird Harris Wealth Management LLC raised its stake in shares of Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds 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.