Netflix (NFLX) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Netflix (NASDAQ:NFLX) from a hold rating to a buy rating in a research note released on Friday.

NFLX has been the topic of several other research reports. Macquarie set a $410.00 price target on Netflix and gave the company a buy rating in a report on Monday, October 29th. Societe Generale restated a sell rating and set a $180.00 price target on shares of Netflix in a report on Friday, July 6th. BidaskClub lowered Netflix from a buy rating to a hold rating in a report on Saturday, October 6th. Goldman Sachs Group set a $470.00 price target on Netflix and gave the company a buy rating in a report on Tuesday, October 2nd. Finally, JPMorgan Chase & Co. reaffirmed a buy rating and issued a $415.00 price objective on shares of Netflix in a research report on Friday, October 12th. Six investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirty have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $377.41.

NASDAQ:NFLX opened at $309.10 on Friday. Netflix has a fifty-two week low of $178.38 and a fifty-two week high of $423.21. The firm has a market cap of $134.79 billion, a P/E ratio of 247.28, a P/E/G ratio of 3.92 and a beta of 1.18. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.39 and a current ratio of 1.39.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.21. Netflix had a return on equity of 29.52% and a net margin of 8.48%. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the prior year, the firm posted $0.29 EPS. Netflix’s quarterly revenue was up 34.0% compared to the same quarter last year. Sell-side analysts forecast that Netflix will post 2.63 EPS for the current year.

In other Netflix news, Director Timothy M. Haley sold 21,882 shares of the stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $336.41, for a total value of $7,361,323.62. Following the completion of the sale, the director now directly owns 9,177 shares in the company, valued at $3,087,234.57. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO David B. Wells sold 1,000 shares of the stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $376.61, for a total value of $376,610.00. Following the completion of the sale, the chief financial officer now owns 1,000 shares of the company’s stock, valued at $376,610. The disclosure for this sale can be found here. Over the last quarter, insiders sold 335,542 shares of company stock valued at $113,836,148. 4.29% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. MCF Advisors LLC purchased a new position in shares of Netflix in the third quarter worth about $108,000. CSat Investment Advisory L.P. purchased a new position in shares of Netflix in the second quarter worth about $117,000. Guidant Wealth Advisors raised its stake in shares of Netflix by 190.5% in the second quarter. Guidant Wealth Advisors now owns 305 shares of the Internet television network’s stock worth $121,000 after purchasing an additional 200 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in shares of Netflix in the second quarter worth about $124,000. Finally, BerganKDV Wealth Management LLC purchased a new position in shares of Netflix in the second quarter worth about $137,000. Institutional investors own 74.04% of the company’s stock.

About Netflix

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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