Netflix (NASDAQ:NFLX) Earns “Buy” Rating from Guggenheim

Netflix (NASDAQ:NFLX)‘s stock had its “buy” rating reissued by equities research analysts at Guggenheim in a research report issued on Thursday,Benzinga reports. They presently have a $1,100.00 price objective on the Internet television network’s stock. Guggenheim’s price objective would suggest a potential upside of 28.53% from the company’s previous close.

Several other research firms have also issued reports on NFLX. UBS Group set a $1,000.00 target price on shares of Netflix in a research note on Monday, March 24th. Wedbush reissued an “outperform” rating and issued a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a research report on Wednesday, January 22nd. Canaccord Genuity Group raised Netflix from a “hold” rating to a “buy” rating and raised their target price for the company from $940.00 to $1,150.00 in a research report on Wednesday, January 22nd. Loop Capital reissued a “hold” rating on shares of Netflix in a report on Monday, March 24th. Finally, BMO Capital Markets restated an “outperform” rating and set a $1,175.00 price target (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average price target of $1,023.74.

Netflix Stock Performance

NASDAQ NFLX opened at $855.86 on Thursday. The company has a market cap of $366.10 billion, a P/E ratio of 43.16, a PEG ratio of 2.12 and a beta of 1.38. The company has a fifty day simple moving average of $970.24 and a 200 day simple moving average of $874.63. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix has a 12-month low of $542.01 and a 12-month high of $1,064.50.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the company earned $2.11 earnings per share. Sell-side analysts predict that Netflix will post 24.58 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Ann Mather sold 2,682 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total value of $2,609,586.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Strive Masiyiwa sold 2,813 shares of Netflix stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total value of $2,835,138.31. The disclosure for this sale can be found here. In the last 90 days, insiders sold 280,676 shares of company stock worth $273,515,672. 1.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NFLX. Pathway Financial Advisers LLC grew its holdings in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares during the last quarter. Brown Shipley& Co Ltd purchased a new stake in Netflix during the fourth quarter valued at about $27,000. Transce3nd LLC purchased a new stake in Netflix during the fourth quarter valued at about $32,000. Newton One Investments LLC bought a new position in shares of Netflix during the fourth quarter valued at about $34,000. Finally, Pineridge Advisors LLC grew its position in Netflix by 4,000.0% during the 4th quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock worth $37,000 after acquiring an additional 40 shares during the last quarter. 80.93% of the stock is 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.