Netflix (NASDAQ:NFLX) Earns Outperform Rating from BMO Capital Markets

BMO Capital Markets restated their outperform rating on shares of Netflix (NASDAQ:NFLX) in a report published on Wednesday, Benzinga reports. They currently have a $713.00 target price on the Internet television network’s stock, up from their previous target price of $638.00.

NFLX has been the topic of a number of other research reports. Bank of America upped their target price on shares of Netflix from $585.00 to $650.00 and gave the company a buy rating in a research note on Wednesday, January 24th. Morgan Stanley upped their target price on shares of Netflix from $600.00 to $700.00 and gave the company an overweight rating in a research note on Friday, April 12th. Evercore ISI upped their target price on shares of Netflix from $600.00 to $640.00 and gave the company an outperform rating in a research note on Thursday, March 14th. Guggenheim upped their target price on shares of Netflix from $600.00 to $700.00 and gave the company a buy rating in a research note on Tuesday. Finally, Redburn Atlantic upped their target price on shares of Netflix from $550.00 to $610.00 and gave the company a buy rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $630.58.

Netflix Stock Performance

Netflix stock opened at $555.04 on Wednesday. Netflix has a 12-month low of $315.62 and a 12-month high of $639.00. The company has a market capitalization of $240.20 billion, a price-to-earnings ratio of 38.52, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. The firm’s fifty day moving average price is $605.65 and its 200 day moving average price is $513.07.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.46%. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the previous year, the firm posted $2.88 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. On average, research analysts forecast that Netflix will post 17.08 EPS for the current fiscal year.

Insider Activity

In other news, insider David A. Hyman sold 47,574 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $17,003,651.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Ann Mather sold 3,673 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $2,203,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Hyman sold 47,574 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The disclosure for this sale can be found here. Insiders sold 268,335 shares of company stock worth $151,619,811 over the last three months. Corporate insiders own 2.45% of the company’s stock.

Institutional Trading of Netflix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Indiana Trust & Investment Management CO lifted its position in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 28 shares in the last quarter. VitalStone Financial LLC lifted its position in shares of Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares in the last quarter. Aspect Partners LLC purchased a new stake in shares of Netflix in the 4th quarter valued at approximately $32,000. Scarborough Advisors LLC purchased a new stake in shares of Netflix in the 4th quarter valued at approximately $32,000. Finally, Authentikos Wealth Advisory LLC purchased a new stake in shares of Netflix in the 3rd quarter valued at approximately $25,000. 80.93% of the stock is owned by institutional investors and hedge funds.

About Netflix

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.