KeyCorp assumed coverage on shares of Netflix (NASDAQ:NFLX) in a research note published on Monday, Benzinga reports. The firm issued an overweight rating and a $590.00 price target on the Internet television network’s stock.
NFLX has been the subject of several other reports. Citigroup boosted their price objective on Netflix from $350.00 to $450.00 and gave the stock a neutral rating in a research note on Thursday, May 21st. Goldman Sachs Group cut their price objective on Netflix from $670.00 to $600.00 and set a conviction-buy rating for the company in a research note on Friday, July 17th. Jefferies Financial Group set a $550.00 price objective on Netflix and gave the stock a buy rating in a research note on Wednesday, August 19th. Piper Sandler boosted their target price on Netflix from $500.00 to $534.00 and gave the stock an overweight rating in a report on Friday, July 17th. Finally, Morgan Stanley upped their price objective on Netflix from $485.00 to $575.00 and gave the company an overweight rating in a report on Wednesday, July 15th. Six analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $490.80.
Shares of Netflix stock opened at $483.86 on Monday. Netflix has a twelve month low of $252.28 and a twelve month high of $575.37. The business has a 50-day moving average price of $499.59 and a 200 day moving average price of $440.66. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.64. The firm has a market cap of $213.39 billion, a PE ratio of 81.60, a P/E/G ratio of 2.56 and a beta of 0.97.
Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 16th. The Internet television network reported $1.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.81 by ($0.22). Netflix had a return on equity of 33.32% and a net margin of 11.85%. The firm had revenue of $6.15 billion for the quarter, compared to analysts’ expectations of $6.08 billion. During the same quarter last year, the firm posted $0.60 earnings per share. On average, sell-side analysts expect that Netflix will post 6.28 EPS for the current year.
In other Netflix news, Director Susan E. Rice sold 1,337 shares of the stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $508.68, for a total value of $680,105.16. Following the completion of the transaction, the director now directly owns 218 shares of the company’s stock, valued at $110,892.24. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Gregory K. Peters sold 7,251 shares of the stock in a transaction dated Monday, July 13th. The shares were sold at an average price of $575.00, for a total transaction of $4,169,325.00. Following the completion of the transaction, the insider now directly owns 20,341 shares of the company’s stock, valued at $11,696,075. The disclosure for this sale can be found here. In the last 90 days, insiders sold 248,524 shares of company stock valued at $121,935,040. 3.40% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the business. Engrave Wealth Partners LLC increased its holdings in Netflix by 65.0% in the second quarter. Engrave Wealth Partners LLC now owns 66 shares of the Internet television network’s stock valued at $30,000 after buying an additional 26 shares in the last quarter. Motco grew its stake in Netflix by 57.1% in the 2nd quarter. Motco now owns 66 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 24 shares during the period. Kistler Tiffany Companies LLC grew its stake in Netflix by 688.9% in the 2nd quarter. Kistler Tiffany Companies LLC now owns 71 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares during the period. Lucia Wealth Services LLC grew its stake in Netflix by 325.0% in the 1st quarter. Lucia Wealth Services LLC now owns 85 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 65 shares during the period. Finally, Northern Oak Wealth Management Inc. grew its stake in Netflix by 39.7% in the 1st quarter. Northern Oak Wealth Management Inc. now owns 88 shares of the Internet television network’s stock worth $33,000 after acquiring an additional 25 shares during the period. 80.63% of the stock is owned by institutional investors.
Netflix Company Profile
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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