Moffett Nathanson Upgrades Netflix (NASDAQ:NFLX) to Buy

Netflix (NASDAQ:NFLX) was upgraded by research analysts at Moffett Nathanson from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat.com reports. The firm presently has a $1,100.00 target price on the Internet television network’s stock, up from their previous target price of $850.00. Moffett Nathanson’s price objective indicates a potential upside of 19.83% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Guggenheim upped their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. Needham & Company LLC raised their price target on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research report on Wednesday, January 22nd. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Finally, Wolfe Research upgraded Netflix from a “peer perform” rating to an “outperform” rating and set a $1,100.00 target price on the stock in a research report on Thursday, January 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,016.78.

Netflix Stock Up 3.1 %

NFLX stock opened at $918.00 on Monday. The company has a market cap of $392.68 billion, a price-to-earnings ratio of 46.29, a PEG ratio of 2.12 and a beta of 1.38. The firm has a 50-day moving average of $951.04 and a two-hundred day moving average of $849.90. Netflix has a 12 month low of $542.01 and a 12 month high of $1,064.50. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.11 earnings per share. As a group, analysts forecast that Netflix will post 24.58 earnings per share for the current fiscal year.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 30,485 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $981.92, for a total transaction of $29,933,831.20. Following the transaction, the chairman now owns 394 shares of the company’s stock, valued at approximately $386,876.48. This trade represents a 98.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 41,121 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $979.01, for a total value of $40,257,870.21. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $30,946,506.10. The trade was a 56.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 288,103 shares of company stock worth $279,142,041. 1.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. West Michigan Advisors LLC grew its position in shares of Netflix by 1.3% during the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock worth $692,000 after acquiring an additional 10 shares during the last quarter. Warwick Investment Management Inc. grew its position in Netflix by 3.5% during the 4th quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock worth $266,000 after purchasing an additional 10 shares during the last quarter. MRP Capital Investments LLC increased its stake in Netflix by 1.0% in the fourth quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network’s stock valued at $938,000 after purchasing an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC raised its holdings in shares of Netflix by 2.2% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network’s stock valued at $412,000 after buying an additional 10 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. boosted its stake in shares of Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network’s stock worth $3,410,000 after buying an additional 10 shares during the period. Institutional investors and hedge funds 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.