Netflix’s (NFLX) “Buy” Rating Reaffirmed at Credit Suisse Group

Credit Suisse Group restated their buy rating on shares of Netflix (NASDAQ:NFLX) in a research note issued to investors on Thursday morning, Borsen Zeitung reports. The firm currently has a $440.00 price target on the Internet television network’s stock.

NFLX has been the topic of several other research reports. Raymond James decreased their target price on Netflix from $450.00 to $415.00 and set a strong-buy rating on the stock in a report on Monday. Monness Crespi & Hardt decreased their target price on Netflix from $440.00 to $340.00 and set a buy rating on the stock in a report on Wednesday, October 9th. KeyCorp restated a hold rating on shares of Netflix in a report on Tuesday, September 24th. Imperial Capital set a $451.00 target price on Netflix and gave the stock a buy rating in a report on Thursday, September 12th. Finally, BMO Capital Markets decreased their price target on Netflix from $470.00 to $440.00 and set an outperform rating on the stock in a report on Thursday, July 18th. Six research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Netflix currently has a consensus rating of Hold and an average price target of $363.11.

Shares of NFLX stock traded down $18.05 during trading hours on Thursday, hitting $275.30. 22,501,751 shares of the company’s stock were exchanged, compared to its average volume of 8,318,575. The stock’s 50-day moving average is $280.91 and its 200-day moving average is $331.71. The company has a debt-to-equity ratio of 2.06, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market cap of $120.53 billion, a price-to-earnings ratio of 102.72, a price-to-earnings-growth ratio of 2.93 and a beta of 1.20. Netflix has a 52 week low of $231.23 and a 52 week high of $385.99.

Netflix (NASDAQ:NFLX) last announced its earnings results on Wednesday, October 16th. The Internet television network reported $1.47 EPS for the quarter, topping the consensus estimate of $1.05 by $0.42. The company had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.25 billion. Netflix had a return on equity of 20.88% and a net margin of 6.53%. The business’s revenue for the quarter was up 31.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 earnings per share. Equities research analysts forecast that Netflix will post 3.23 earnings per share for the current fiscal year.

In related news, Director Bradford L. Smith bought 6,499 shares of Netflix stock in a transaction on Thursday, August 8th. The shares were purchased at an average price of $308.49 per share, for a total transaction of $2,004,876.51. Following the completion of the acquisition, the director now owns 799 shares in the company, valued at $246,483.51. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Reed Hastings sold 43,372 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $266.57, for a total value of $11,561,674.04. Following the transaction, the chief executive officer now owns 43,372 shares in the company, valued at approximately $11,561,674.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 150,983 shares of company stock worth $44,378,164. Company insiders own 4.29% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Intercontinental Wealth Advisors LLC boosted its holdings in Netflix by 100.0% during the third quarter. Intercontinental Wealth Advisors LLC now owns 96 shares of the Internet television network’s stock worth $26,000 after buying an additional 48 shares during the last quarter. Nelson Roberts Investment Advisors LLC boosted its holdings in Netflix by 600.0% during the second quarter. Nelson Roberts Investment Advisors LLC now owns 84 shares of the Internet television network’s stock worth $31,000 after buying an additional 72 shares during the last quarter. CX Institutional bought a new position in Netflix during the third quarter worth about $35,000. SRS Capital Advisors Inc. bought a new position in Netflix during the second quarter worth about $39,000. Finally, Wealthcare Capital Management LLC acquired a new stake in shares of Netflix during the third quarter worth about $40,000. Hedge funds and other institutional investors own 78.98% of the company’s stock.

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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