Netflix’s (NFLX) “Buy” Rating Reaffirmed at JPMorgan Chase & Co.

Netflix (NASDAQ:NFLX)‘s stock had its “buy” rating reaffirmed by analysts at JPMorgan Chase & Co. in a research report issued on Friday. They currently have a $415.00 price target on the Internet television network’s stock. JPMorgan Chase & Co.’s price objective suggests a potential upside of 22.22% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. Stifel Nicolaus reissued a “buy” rating and set a $395.00 target price (down from $406.00) on shares of Netflix in a report on Friday. Citigroup raised shares of Netflix from a “neutral” rating to a “buy” rating and set a $375.00 target price on the stock in a report on Friday. Macquarie set a $388.00 target price on shares of Netflix and gave the stock a “buy” rating in a report on Thursday. SunTrust Banks set a $410.00 target price on shares of Netflix and gave the stock a “buy” rating in a report on Wednesday. Finally, Barclays reissued a “hold” rating on shares of Netflix in a report on Monday, October 8th. Five analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirty-two have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $355.45.

NFLX traded up $18.46 during trading on Friday, reaching $339.56. 14,804,801 shares of the company’s stock were exchanged, compared to its average volume of 10,801,604. Netflix has a one year low of $178.38 and a one year high of $423.21. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.54 and a quick ratio of 1.54. The firm has a market capitalization of $162.92 billion, a price-to-earnings ratio of 271.65, a PEG ratio of 4.67 and a beta of 0.89.

Netflix (NASDAQ:NFLX) last posted its earnings results on Monday, July 16th. The Internet television network reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.80 by $0.05. Netflix had a net margin of 7.13% and a return on equity of 25.66%. The firm had revenue of $3.91 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same period in the previous year, the firm posted $0.15 EPS. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, equities research analysts predict that Netflix will post 2.67 EPS for the current year.

In related news, CFO David B. Wells sold 1,000 shares of the business’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $399.01, for a total transaction of $399,010.00. Following the transaction, the chief financial officer now owns 1,000 shares in the company, valued at approximately $399,010. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Theodore A. Sarandos sold 111,391 shares of the business’s stock in a transaction on Monday, July 23rd. The shares were sold at an average price of $360.00, for a total transaction of $40,100,760.00. Following the transaction, the insider now owns 16,065 shares in the company, valued at approximately $5,783,400. The disclosure for this sale can be found here. Insiders have sold a total of 420,428 shares of company stock worth $149,631,503 in the last quarter. 4.29% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in NFLX. HPM Partners LLC raised its holdings in Netflix by 30.2% during the second quarter. HPM Partners LLC now owns 3,896 shares of the Internet television network’s stock worth $1,525,000 after buying an additional 904 shares during the last quarter. Morgan Stanley raised its holdings in Netflix by 1.6% during the second quarter. Morgan Stanley now owns 2,364,657 shares of the Internet television network’s stock worth $925,600,000 after buying an additional 37,425 shares during the last quarter. Private Capital Group LLC raised its holdings in Netflix by 33.1% during the second quarter. Private Capital Group LLC now owns 744 shares of the Internet television network’s stock worth $291,000 after buying an additional 185 shares during the last quarter. Braun Bostich & Associates Inc. acquired a new position in Netflix during the first quarter worth $142,000. Finally, Mackay Shields LLC raised its holdings in Netflix by 3.0% during the second quarter. Mackay Shields LLC now owns 169,338 shares of the Internet television network’s stock worth $66,284,000 after buying an additional 4,917 shares during the last quarter. Institutional investors own 73.76% 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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