Netflix (NFLX) Upgraded by UBS Group to Buy

UBS Group upgraded shares of Netflix (NASDAQ:NFLX) from a neutral rating to a buy rating in a research report released on Thursday, www.benzinga.com reports.

Several other research analysts also recently commented on NFLX. Citigroup reduced their price objective on Netflix and set a neutral rating for the company in a research note on Monday, October 15th. Loop Capital increased their price target on Netflix from $365.00 to $385.00 in a report on Wednesday, October 17th. Nomura set a $370.00 price target on Netflix and gave the stock a neutral rating in a report on Monday, October 29th. Credit Suisse Group reiterated a buy rating and set a $470.00 price target on shares of Netflix in a report on Monday, October 1st. Finally, Guggenheim increased their price target on Netflix from $360.00 to $420.00 and gave the stock a buy rating in a report on Wednesday, September 19th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty have issued a buy rating and two have assigned a strong buy rating to the stock. Netflix presently has a consensus rating of Buy and an average price target of $365.74.

Netflix stock traded up $12.93 during trading hours on Thursday, reaching $337.59. The stock had a trading volume of 19,458,195 shares, compared to its average volume of 15,779,253. The company has a market capitalization of $139.53 billion, a PE ratio of 270.07, a P/E/G ratio of 2.62 and a beta of 1.12. 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 has a 52 week low of $216.00 and a 52 week high of $423.21.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.21. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $3.99 billion. Netflix had a return on equity of 29.52% and a net margin of 8.48%. The company’s revenue was up 34.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 earnings per share. On average, equities analysts predict that Netflix will post 2.63 earnings per share for the current fiscal year.

In other Netflix news, CFO David B. Wells sold 1,000 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was sold at an average price of $337.86, for a total transaction of $337,860.00. Following the completion of the sale, the chief financial officer now owns 1,000 shares of the company’s stock, valued at $337,860. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Reed Hastings sold 63,147 shares of the business’s stock in a transaction dated Monday, December 24th. The shares were sold at an average price of $241.12, for a total value of $15,226,004.64. Following the sale, the chief executive officer now directly owns 63,147 shares of the company’s stock, valued at approximately $15,226,004.64. The disclosure for this sale can be found here. Insiders sold 289,664 shares of company stock valued at $84,528,831 over the last quarter. Insiders own 4.29% of the company’s stock.

A number of hedge funds have recently bought and sold shares of NFLX. Global Trust Asset Management LLC bought a new stake in shares of Netflix during the 4th quarter worth $54,000. Csenge Advisory Group bought a new position in Netflix during the third quarter valued at about $62,000. MCF Advisors LLC bought a new position in Netflix during the third quarter valued at about $108,000. Perennial Advisors LLC raised its holdings in Netflix by 2,021.4% during the third quarter. Perennial Advisors LLC now owns 297 shares of the Internet television network’s stock valued at $111,000 after buying an additional 283 shares in the last quarter. Finally, Atlas Capital Advisors LLC bought a new position in Netflix during the third quarter valued at about $113,000. 73.97% of the stock is owned by hedge funds and other institutional investors.

Netflix Company Profile

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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