Netflix’s (NFLX) “Outperform” Rating Reaffirmed at BMO Capital Markets

Netflix (NASDAQ:NFLX)‘s stock had its “outperform” rating reaffirmed by equities research analysts at BMO Capital Markets in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $713.00 target price on the Internet television network’s stock, up from their previous target price of $638.00. BMO Capital Markets’ target price would suggest a potential upside of 16.18% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. Redburn Atlantic boosted their price target on shares of Netflix from $550.00 to $610.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Pivotal Research boosted their price target on shares of Netflix from $700.00 to $765.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Oppenheimer boosted their price target on shares of Netflix from $615.00 to $725.00 and gave the stock an “outperform” rating in a report on Monday, March 11th. Piper Sandler boosted their price target on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, April 12th. Finally, Sanford C. Bernstein boosted their price objective on Netflix from $390.00 to $490.00 and gave the company a “market perform” rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $605.76.

Netflix Stock Down 0.6 %

NFLX traded down $3.83 during mid-day trading on Wednesday, reaching $613.69. 3,266,462 shares of the stock were exchanged, compared to its average volume of 4,228,966. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $265.58 billion, a PE ratio of 51.02, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22. The company has a 50 day moving average price of $603.65 and a two-hundred day moving average price of $510.44. Netflix has a 1 year low of $315.62 and a 1 year high of $639.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The company had revenue of $8.83 billion during the quarter, compared to analysts’ expectations of $8.72 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. Netflix’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $0.12 earnings per share. As a group, research analysts anticipate that Netflix will post 17.03 EPS for the current year.

Insider Transactions at Netflix

In other news, CEO Gregory K. Peters sold 13,655 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total transaction of $7,425,589.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $7,118,342. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 13,655 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total value of $7,425,589.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $7,118,342. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Jay C. Hoag sold 47,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total value of $25,873,500.00. Following the completion of the sale, the director now directly owns 431,034 shares of the company’s stock, valued at approximately $237,284,217. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Grimes & Company Inc. purchased a new stake in Netflix in the first quarter worth approximately $213,000. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Netflix during the first quarter valued at approximately $230,000. Trifecta Capital Advisors LLC boosted its stake in shares of Netflix by 304.3% during the first quarter. Trifecta Capital Advisors LLC now owns 93 shares of the Internet television network’s stock valued at $56,000 after purchasing an additional 70 shares during the period. Viewpoint Capital Management LLC purchased a new stake in shares of Netflix during the first quarter valued at approximately $231,000. Finally, Occidental Asset Management LLC boosted its stake in shares of Netflix by 10.4% during the first quarter. Occidental Asset Management LLC now owns 586 shares of the Internet television network’s stock valued at $356,000 after purchasing an additional 55 shares during the period. Hedge funds and other institutional investors 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.