Netflix (NASDAQ:NFLX) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Netflix (NASDAQ:NFLX) in a research report report published on Friday morning, Benzinga reports. They currently have a $700.00 target price on the Internet television network’s stock.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Netflix from $650.00 to $750.00 and gave the company an overweight rating in a research note on Friday, July 12th. KeyCorp increased their price target on shares of Netflix from $707.00 to $735.00 and gave the stock an overweight rating in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Netflix from $525.00 to $550.00 and gave the stock a hold rating in a report on Monday, April 15th. Barclays increased their price target on shares of Netflix from $475.00 to $550.00 and gave the stock an equal weight rating in a report on Tuesday, April 9th. Finally, CICC Research started coverage on shares of Netflix in a report on Thursday, May 2nd. They set an outperform rating and a $650.00 target price on the stock. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $680.76.

Netflix Stock Down 1.5 %

NFLX opened at $633.34 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a market cap of $272.97 billion, a price-to-earnings ratio of 43.95, a PEG ratio of 1.37 and a beta of 1.27. Netflix has a twelve month low of $344.73 and a twelve month high of $697.49. The company’s 50-day moving average price is $655.73 and its two-hundred day moving average price is $604.31.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 33.22%. The company’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the company earned $3.29 earnings per share. As a group, equities analysts expect that Netflix will post 18.99 earnings per share for the current year.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $38,217.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Anne M. Sweeney sold 633 shares of Netflix stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total transaction of $354,480.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the sale, the chairman now directly owns 57 shares in the company, valued at approximately $38,217.93. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,385 shares of company stock valued at $44,469,351. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of large investors have recently modified their holdings of NFLX. Columbia Trust Co 01012016 boosted its stake in Netflix by 15.3% during the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock worth $762,000 after acquiring an additional 208 shares in the last quarter. Crumly & Associates Inc. boosted its stake in Netflix by 4.1% during the fourth quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after acquiring an additional 83 shares in the last quarter. Venture Visionary Partners LLC boosted its stake in Netflix by 15.4% during the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock worth $4,795,000 after acquiring an additional 1,318 shares in the last quarter. Sandy Cove Advisors LLC boosted its stake in Netflix by 10.6% during the fourth quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock worth $578,000 after acquiring an additional 114 shares in the last quarter. Finally, Malaga Cove Capital LLC boosted its stake in Netflix by 25.4% during the fourth quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock worth $761,000 after acquiring an additional 316 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

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.