Netflix (NASDAQ:NFLX) Earns Outperform Rating from Analysts at CICC Research

CICC Research started coverage on shares of Netflix (NASDAQ:NFLX) in a report released on Thursday, Benzinga reports. The brokerage issued an outperform rating and a $650.00 price target on the Internet television network’s stock.

A number of other research firms have also recently weighed in on NFLX. Redburn Atlantic upped their price target on shares of Netflix from $550.00 to $610.00 and gave the stock a buy rating in a research note on Wednesday, January 24th. Canaccord Genuity Group cut shares of Netflix from a buy rating to a hold rating and lowered their price objective for the company from $720.00 to $585.00 in a research note on Friday, April 19th. Rosenblatt Securities lowered their price objective on shares of Netflix from $554.00 to $540.00 and set a neutral rating on the stock in a research note on Friday, April 19th. Barclays increased their price objective on shares of Netflix from $475.00 to $550.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. Finally, Bank of America increased their price objective on shares of Netflix from $650.00 to $700.00 and gave the company a buy rating in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, Netflix currently has an average rating of Moderate Buy and an average target price of $631.15.

Netflix Stock Performance

NASDAQ:NFLX opened at $579.34 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix has a fifty-two week low of $317.95 and a fifty-two week high of $639.00. The stock has a market cap of $249.67 billion, a PE ratio of 40.20, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23. The firm’s fifty day simple moving average is $602.57 and its 200-day simple moving average is $528.80.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same period in the prior year, the company posted $2.88 EPS. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. Analysts expect that Netflix will post 18.3 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In related news, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $566.35, for a total transaction of $723,795.30. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $7,413,521.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $566.35, for a total transaction of $723,795.30. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $7,413,521.50. The disclosure for this sale can be found here. Insiders have sold a total of 152,833 shares of company stock worth $88,270,051 in the last three months. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several large investors have recently bought and sold shares of NFLX. Norges Bank acquired a new stake in Netflix in the fourth quarter valued at approximately $2,558,598,000. Wellington Management Group LLP grew its position in Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after acquiring an additional 3,273,592 shares in the last quarter. International Assets Investment Management LLC grew its position in Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after acquiring an additional 2,061,859 shares in the last quarter. Jennison Associates LLC grew its position in Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after acquiring an additional 1,573,978 shares in the last quarter. Finally, Global Assets Advisory LLC acquired a new stake in Netflix in the first quarter valued at approximately $436,514,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

About Netflix

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.