Netflix (NASDAQ:NFLX) Coverage Initiated at Needham & Company LLC

Analysts at Needham & Company LLC assumed coverage on shares of Netflix (NASDAQ:NFLX) in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. The brokerage set a “sell” rating on the Internet television network’s stock.

Other analysts have also recently issued research reports about the stock. Piper Jaffray Companies reissued a “buy” rating and set a $400.00 target price on shares of Netflix in a research note on Wednesday, December 11th. JPMorgan Chase & Co. reissued a “buy” rating and set a $410.00 target price (down previously from $425.00) on shares of Netflix in a research note on Wednesday. Evercore ISI cut their target price on shares of Netflix from $380.00 to $300.00 and set an “in-line” rating for the company in a research note on Monday, October 7th. Sanford C. Bernstein restated a “buy” rating and set a $415.00 price target on shares of Netflix in a research report on Monday. Finally, Wedbush lowered their price target on shares of Netflix from $188.00 to $173.00 and set an “underperform” rating on the stock in a research report on Wednesday. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have given a buy rating to the company. Netflix currently has a consensus rating of “Buy” and an average target price of $379.58.

Shares of NFLX stock traded up $1.40 on Wednesday, reaching $351.00. 13,972,014 shares of the company were exchanged, compared to its average volume of 5,878,778. The company has a market cap of $153.84 billion, a price-to-earnings ratio of 84.99, a P/E/G ratio of 1.98 and a beta of 1.28. The business has a 50-day moving average price of $325.01 and a 200 day moving average price of $306.73. The company has a debt-to-equity ratio of 1.95, a quick ratio of 0.73 and a current ratio of 0.90. Netflix has a 1 year low of $252.28 and a 1 year high of $385.99.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.78. The business had revenue of $5.47 billion during the quarter, compared to analysts’ expectations of $5.45 billion. Netflix had a net margin of 9.26% and a return on equity of 28.45%. The company’s quarterly revenue was up 30.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 earnings per share. As a group, equities analysts anticipate that Netflix will post 5.5 earnings per share for the current year.

In other Netflix news, CEO Reed Hastings sold 83,692 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $336.61, for a total value of $28,171,564.12. Following the transaction, the chief executive officer now directly owns 83,692 shares in the company, valued at approximately $28,171,564.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.29% of the company’s stock.

Several hedge funds have recently modified their holdings of NFLX. Fisher Asset Management LLC lifted its holdings in shares of Netflix by 142.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,216,329 shares of the Internet television network’s stock worth $593,134,000 after acquiring an additional 1,302,678 shares during the last quarter. OZ Management LP acquired a new position in shares of Netflix in the 2nd quarter worth approximately $228,716,000. Maverick Capital Ltd. lifted its holdings in shares of Netflix by 695.9% in the 3rd quarter. Maverick Capital Ltd. now owns 522,778 shares of the Internet television network’s stock worth $139,906,000 after acquiring an additional 457,098 shares during the last quarter. Johanson Financial Advisors Inc. lifted its holdings in shares of Netflix by 28,747.7% in the 4th quarter. Johanson Financial Advisors Inc. now owns 337,806 shares of the Internet television network’s stock worth $1,044,000 after acquiring an additional 336,635 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in shares of Netflix in the 3rd quarter worth approximately $81,976,000. Hedge funds and other institutional investors own 80.84% 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.

Featured Article: What is a back-end load?

Analyst Recommendations for Netflix (NASDAQ:NFLX)

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.