JPMorgan Chase & Co. Has Lowered Expectations for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its price target cut by equities research analysts at JPMorgan Chase & Co. from $1,010.00 to $1,000.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the Internet television network’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 19.38% from the stock’s previous close.

Several other analysts also recently issued reports on NFLX. Bank of America lifted their price target on shares of Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Canaccord Genuity Group lifted their price objective on shares of Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a report on Monday, December 2nd. Barclays restated an “underweight” rating and issued a $550.00 target price on shares of Netflix in a report on Friday, October 18th. Sanford C. Bernstein lifted their price target on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Oppenheimer boosted their price objective on Netflix from $825.00 to $1,065.00 and gave the stock an “outperform” rating in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $824.00.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $837.69 on Friday. The firm’s 50-day moving average price is $878.06 and its 200-day moving average price is $753.25. Netflix has a 1-year low of $475.26 and a 1-year high of $941.75. The firm has a market capitalization of $358.08 billion, a P/E ratio of 47.41, a P/E/G ratio of 1.77 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Equities research analysts anticipate that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Activity at Netflix

In related news, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the transaction, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 156,742 shares of company stock worth $131,030,268. Company insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several hedge funds have recently made changes to their positions in NFLX. AGF Management Ltd. grew its holdings in Netflix by 3.4% during the 2nd quarter. AGF Management Ltd. now owns 3,872 shares of the Internet television network’s stock valued at $2,613,000 after buying an additional 129 shares in the last quarter. Eagle Strategies LLC bought a new stake in Netflix during the 2nd quarter worth approximately $253,000. Vest Financial LLC lifted its stake in Netflix by 11.5% in the 2nd quarter. Vest Financial LLC now owns 706 shares of the Internet television network’s stock worth $476,000 after purchasing an additional 73 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Netflix by 9.9% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 27,891 shares of the Internet television network’s stock valued at $18,823,000 after purchasing an additional 2,517 shares during the period. Finally, Stonebridge Financial Planning Group LLC grew its position in shares of Netflix by 5.0% during the 2nd quarter. Stonebridge Financial Planning Group LLC now owns 630 shares of the Internet television network’s stock valued at $425,000 after purchasing an additional 30 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other 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.