Netflix (NASDAQ:NFLX) Rating Reiterated by JPMorgan Chase & Co.

Netflix (NASDAQ:NFLX)‘s stock had its “overweight” rating reaffirmed by equities research analysts at JPMorgan Chase & Co. in a report released on Tuesday, Benzinga reports. They currently have a $750.00 price target on the Internet television network’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 3.93% from the company’s previous close.

Other equities research analysts have also recently issued reports about the company. UBS Group lifted their target price on Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research note on Friday, July 19th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Barclays reaffirmed an “underweight” rating and set a $550.00 price objective on shares of Netflix in a research note on Monday. Pivotal Research lifted their price objective on Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, KeyCorp lifted their price objective on Netflix from $735.00 to $760.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $691.76.

Netflix Price Performance

NFLX stock traded up $19.69 during midday trading on Tuesday, reaching $721.61. 1,840,625 shares of the company’s stock traded hands, compared to its average volume of 3,662,626. The company has a 50-day simple moving average of $678.35 and a two-hundred day simple moving average of $648.76. The company has a market cap of $311.01 billion, a price-to-earnings ratio of 50.08, a PEG ratio of 1.44 and a beta of 1.26. Netflix has a 1-year low of $344.73 and a 1-year high of $725.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period last year, the firm earned $3.29 EPS. On average, analysts anticipate that Netflix will post 19.08 earnings per share for the current year.

Insider Activity

In other news, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $9,490,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $9,490,250. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 224,784 shares of company stock valued at $150,212,870. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. DigitalBridge Group Inc. lifted its stake in Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares during the last quarter. M&G Plc bought a new position in shares of Netflix in the 1st quarter valued at $9,682,000. BSN CAPITAL PARTNERS Ltd lifted its stake in shares of Netflix by 24.4% in the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after acquiring an additional 49,000 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Netflix by 58.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after acquiring an additional 30,511 shares during the last quarter. Finally, Scarborough Advisors LLC bought a new position in shares of Netflix in the 4th quarter valued at $9,513,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Company Profile

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.