Netflix (NASDAQ:NFLX) had its price objective reduced by equities research analysts at JPMorgan Chase & Co. from $450.00 to $425.00 in a research report issued to clients and investors on Monday. The firm presently has an “overweight” rating on the Internet television network’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 27.29% from the stock’s previous close.

Several other research firms have also issued reports on NFLX. Credit Suisse Group reissued a “buy” rating and issued a $470.00 price target on shares of Netflix in a research report on Monday, October 1st. Goldman Sachs Group set a $470.00 price target on shares of Netflix and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Macquarie set a $388.00 price target on shares of Netflix and gave the stock a “buy” rating in a research report on Wednesday, September 26th. Sanford C. Bernstein reaffirmed a “buy” rating and set a $465.00 price objective on shares of Netflix in a report on Wednesday, October 17th. Finally, Nomura reaffirmed a “neutral” rating and set a $370.00 price objective on shares of Netflix in a report on Wednesday, October 17th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $365.16.

NASDAQ:NFLX traded down $3.70 during mid-day trading on Monday, hitting $333.89. The company’s stock had a trading volume of 64,830 shares, compared to its average volume of 15,781,438. Netflix has a fifty-two week low of $216.00 and a fifty-two week high of $423.21. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.66. The firm has a market capitalization of $139.53 billion, a PE ratio of 267.11, a price-to-earnings-growth ratio of 2.62 and a beta of 1.12.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.21. Netflix had a net margin of 8.48% and a return on equity of 29.52%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the business posted $0.29 earnings per share. The company’s quarterly revenue was up 34.0% compared to the same quarter last year. On average, research analysts expect that Netflix will post 2.63 EPS for the current year.

In other news, Director Richard N. Barton sold 700 shares of the stock in a transaction that occurred on Tuesday, October 23rd. The shares were sold at an average price of $325.34, for a total transaction of $227,738.00. Following the sale, the director now directly owns 7,393 shares of the company’s stock, valued at $2,405,238.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy M. Haley sold 21,882 shares of the firm’s stock in a transaction that occurred on Tuesday, October 16th. The shares were sold at an average price of $336.41, for a total transaction of $7,361,323.62. Following the completion of the transaction, the director now directly owns 9,177 shares in the company, valued at $3,087,234.57. The disclosure for this sale can be found here. Insiders have sold 288,664 shares of company stock worth $84,190,971 over the last three months. 4.29% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in NFLX. Great Lakes Advisors LLC boosted its position in shares of Netflix by 0.3% during the third quarter. Great Lakes Advisors LLC now owns 24,044 shares of the Internet television network’s stock worth $8,996,000 after purchasing an additional 75 shares in the last quarter. Carnegie Capital Asset Management LLC raised its holdings in shares of Netflix by 9.9% during the third quarter. Carnegie Capital Asset Management LLC now owns 1,388 shares of the Internet television network’s stock worth $395,000 after acquiring an additional 125 shares during the period. United Capital Management of KS Inc. raised its holdings in shares of Netflix by 6.3% during the fourth quarter. United Capital Management of KS Inc. now owns 2,309 shares of the Internet television network’s stock worth $618,000 after acquiring an additional 137 shares during the period. Sound Income Strategies LLC raised its holdings in shares of Netflix by 30.6% during the third quarter. Sound Income Strategies LLC now owns 675 shares of the Internet television network’s stock worth $253,000 after acquiring an additional 158 shares during the period. Finally, Clarus Wealth Advisors raised its holdings in shares of Netflix by 26.1% during the fourth quarter. Clarus Wealth Advisors now owns 811 shares of the Internet television network’s stock worth $217,000 after acquiring an additional 168 shares during the period. 73.97% of the stock is currently owned by hedge funds and other institutional investors.

About Netflix

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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