Netflix’s (NFLX) “Overweight” Rating Reiterated at JPMorgan Chase & Co.

by · The Markets Daily

JPMorgan Chase & Co. reiterated their overweight rating on shares of Netflix (NASDAQ:NFLX – Free Report) in a research note issued to investors on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a $750.00 target price on the Internet television network’s stock.

Several other research firms have also recently issued reports on NFLX. StockNews.com raised shares of Netflix from a hold rating to a buy rating in a research report on Tuesday, September 24th. The Goldman Sachs Group raised their target price on shares of Netflix from $650.00 to $659.00 and gave the stock a neutral rating in a research report on Friday, July 19th. Jefferies Financial Group raised their target price on shares of Netflix from $655.00 to $780.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. TD Cowen raised their target price on shares of Netflix from $775.00 to $820.00 and gave the stock a buy rating in a research report on Monday, October 7th. Finally, Morgan Stanley raised their target price on shares of Netflix from $700.00 to $780.00 and gave the stock an overweight rating in a research report on Monday, July 15th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, Netflix presently has an average rating of Moderate Buy and a consensus price target of $702.79.

Read Our Latest Research Report on NFLX

Netflix Price Performance

Netflix stock opened at $722.79 on Tuesday. Netflix has a 12-month low of $344.73 and a 12-month high of $736.00. The stock has a market capitalization of $311.52 billion, a P/E ratio of 50.16, a P/E/G ratio of 1.49 and a beta of 1.26. The firm’s 50-day moving average is $686.60 and its two-hundred day moving average is $651.18. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

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

Insider Buying and Selling

In related news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Netflix news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 225,167 shares of company stock worth $150,492,460. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Hedge funds have recently added to or reduced their stakes in the business. DigitalBridge Group Inc. boosted its holdings in Netflix by 35.5% in 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 period. M&G Plc acquired a new position in shares of Netflix during the first quarter valued at $9,682,000. BSN CAPITAL PARTNERS Ltd boosted its holdings in shares of Netflix by 24.4% during the first 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 period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of Netflix by 58.2% during the second 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 period. Finally, Scarborough Advisors LLC acquired a new position in shares of Netflix during the fourth quarter valued at $9,513,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Company Profile

(Get Free Report)

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.

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