Netflix (NASDAQ:NFLX) Receives “Hold” Rating from Needham & Company LLC

Needham & Company LLC reiterated their hold rating on shares of Netflix (NASDAQ:NFLX) in a research note issued to investors on Thursday morning, AnalystRatings.com reports.

Other analysts have also issued reports about the stock. Loop Capital set a $425.00 target price on shares of Netflix and gave the company a buy rating in a research note on Monday, September 23rd. Citigroup lowered their target price on shares of Netflix from $420.00 to $410.00 and set a buy rating for the company in a research note on Thursday, July 18th. Goldman Sachs Group lowered their target price on shares of Netflix from $460.00 to $420.00 in a research note on Thursday, July 18th. BidaskClub raised shares of Netflix from a strong sell rating to a sell rating in a research note on Thursday. Finally, Wolfe Research initiated coverage on shares of Netflix in a research note on Thursday, June 20th. They set an outperform rating and a $442.00 target price for the company. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $383.35.

Shares of NFLX traded up $4.00 during trading hours on Thursday, reaching $272.15. 625,759 shares of the company traded hands, compared to its average volume of 9,066,626. The firm has a market cap of $119.09 billion, a price-to-earnings ratio of 101.56, a PEG ratio of 2.76 and a beta of 1.20. Netflix has a 12-month low of $231.23 and a 12-month high of $385.99. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.06. The stock’s fifty day moving average price is $286.02 and its 200 day moving average price is $337.52.

Netflix (NASDAQ:NFLX) last issued its earnings results on Wednesday, July 17th. The Internet television network reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.04. The firm had revenue of $4.92 billion during the quarter, compared to analyst estimates of $4.93 billion. Netflix had a net margin of 6.53% and a return on equity of 20.88%. The business’s revenue was up 26.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 earnings per share. On average, research analysts forecast that Netflix will post 3.25 earnings per share for the current year.

In other news, Director Bradford L. Smith purchased 6,499 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $308.49 per share, with a total value of $2,004,876.51. Following the completion of the transaction, the director now owns 799 shares in the company, valued at approximately $246,483.51. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Reed Hastings sold 55,342 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $309.54, for a total transaction of $17,130,562.68. Following the sale, the chief executive officer now directly owns 55,342 shares of the company’s stock, valued at $17,130,562.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 150,983 shares of company stock valued at $44,378,164. Insiders own 4.29% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Hartford Investment Management Co. lifted its position in shares of Netflix by 0.8% during the second quarter. Hartford Investment Management Co. now owns 53,204 shares of the Internet television network’s stock valued at $19,543,000 after buying an additional 447 shares during the last quarter. Bailard Inc. increased its holdings in shares of Netflix by 14.6% during the second quarter. Bailard Inc. now owns 787 shares of the Internet television network’s stock valued at $289,000 after acquiring an additional 100 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new position in shares of Netflix during the second quarter valued at about $4,353,000. Northern Trust Corp increased its holdings in shares of Netflix by 1.9% during the first quarter. Northern Trust Corp now owns 4,948,504 shares of the Internet television network’s stock valued at $1,764,438,000 after acquiring an additional 90,312 shares in the last quarter. Finally, Gryphon Financial Partners LLC acquired a new position in shares of Netflix during the second quarter valued at about $372,000. 78.96% of the stock is owned by institutional investors and hedge funds.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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