Netflix (NFLX) Given “Buy” Rating at Royal Bank of Canada

Royal Bank of Canada restated their buy rating on shares of Netflix (NASDAQ:NFLX) in a research note published on Wednesday morning. The brokerage currently has a $480.00 target price on the Internet television network’s stock.

Other analysts have also recently issued reports about the company. Morgan Stanley lifted their price objective on Netflix from $430.00 to $450.00 and gave the company an overweight rating in a research report on Friday, January 18th. Credit Suisse Group restated a buy rating and issued a $440.00 price objective on shares of Netflix in a report on Friday, January 18th. Macquarie set a $375.00 price objective on shares of Netflix and gave the stock a buy rating in a report on Friday, January 18th. Barclays reiterated a buy rating and set a $375.00 target price on shares of Netflix in a research note on Wednesday, January 16th. Finally, Stifel Nicolaus reissued a buy rating and set a $400.00 price objective (up previously from $380.00) on shares of Netflix in a research report on Friday, January 18th. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $375.75.

Shares of NASDAQ NFLX opened at $375.22 on Wednesday. Netflix has a 1-year low of $231.23 and a 1-year high of $423.21. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market cap of $156.64 billion, a price-to-earnings ratio of 140.01, a PEG ratio of 2.96 and a beta of 1.37.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, January 17th. The Internet television network reported $0.30 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.06. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.21 billion. Netflix had a return on equity of 25.82% and a net margin of 7.67%. The company’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter last year, the business posted $0.41 earnings per share. Analysts anticipate that Netflix will post 4.05 earnings per share for the current year.

In other Netflix news, CEO Reed Hastings sold 63,147 shares of the business’s stock in a transaction that occurred on Monday, December 24th. The shares were sold at an average price of $241.12, for a total transaction of $15,226,004.64. Following the completion of the transaction, the chief executive officer now owns 63,147 shares in the company, valued at approximately $15,226,004.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anne M. Sweeney sold 1,649 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $370.00, for a total transaction of $610,130.00. Following the transaction, the director now owns 609 shares of the company’s stock, valued at approximately $225,330. The disclosure for this sale can be found here. Insiders have sold a total of 197,639 shares of company stock valued at $61,581,281 in the last quarter. 4.29% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of NFLX. Oregon Public Employees Retirement Fund grew its holdings in Netflix by 17,848.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,931,481 shares of the Internet television network’s stock worth $89,000 after acquiring an additional 23,798,143 shares in the last quarter. Norges Bank acquired a new position in Netflix during the 4th quarter worth approximately $1,209,406,000. Capital International Investors acquired a new position in Netflix during the 3rd quarter worth approximately $1,231,337,000. Harris Associates L P grew its holdings in Netflix by 90.8% during the 4th quarter. Harris Associates L P now owns 3,109,548 shares of the Internet television network’s stock worth $832,301,000 after acquiring an additional 1,479,651 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in Netflix by 9.0% during the 4th quarter. Jennison Associates LLC now owns 9,598,888 shares of the Internet television network’s stock worth $2,569,238,000 after acquiring an additional 792,338 shares in the last quarter. Institutional investors own 75.02% of the company’s stock.

Netflix Company Profile

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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