BMO Capital Markets Reaffirms “Outperform” Rating for Netflix (NASDAQ:NFLX)

BMO Capital Markets reiterated their outperform rating on shares of Netflix (NASDAQ:NFLX) in a research note released on Friday, Marketbeat Ratings reports. BMO Capital Markets currently has a $825.00 price objective on the Internet television network’s stock, up from their previous price objective of $770.00.

Several other analysts have also recently commented on NFLX. Deutsche Bank Aktiengesellschaft raised their target price on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. UBS Group lifted their target price on Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a research note on Friday. Benchmark reissued a “sell” rating and issued a $545.00 price target on shares of Netflix in a research report on Tuesday. Barclays reaffirmed an “underweight” rating and set a $550.00 price objective on shares of Netflix in a research report on Monday, October 7th. Finally, TD Cowen increased their target price on shares of Netflix from $775.00 to $820.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $739.38.

Netflix Price Performance

NFLX stock opened at $763.89 on Friday. Netflix has a one year low of $392.26 and a one year high of $766.28. The firm has a 50-day moving average of $696.38 and a two-hundred day moving average of $654.66. The firm has a market capitalization of $329.24 billion, a PE ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same quarter last year, the business posted $3.29 EPS. The company’s revenue was up 16.8% on a year-over-year basis. On average, analysts forecast that Netflix will post 19.08 earnings per share for the current year.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 20,656 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the sale, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,167 shares of company stock valued at $150,492,460. 1.76% of the stock is owned by company insiders.

Institutional Trading of Netflix

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in Netflix by 0.4% during the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after buying an additional 149,341 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after acquiring an additional 106,756 shares during the period. Legal & General Group Plc boosted its position in shares of Netflix by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after acquiring an additional 104,332 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Netflix by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after acquiring an additional 83,762 shares during the period. 80.93% of the stock is currently owned by institutional investors.

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.