Rosenblatt Securities assumed coverage on shares of Netflix (NASDAQ:NFLX) in a research report report published on Tuesday, April 2nd, BenzingaRatingsTable reports. The brokerage issued a neutral rating and a $350.00 price objective on the Internet television network’s stock.
“We initiate on NFLX with a Neutral rating and a $350 PT implying modest downside. Simply put, we believe the shares are priced to perfection, particularly against aggressive international subscriber expectations. Domestically, our subscriber expectations imply NFLX continues to dominate household streaming share despite new, big pocket DTC entrants with top-shelf original content. Net-net, we see greater downside risk from rising original content competition (i.e. Disney+, Hulu) vs. upside risk to exceeding our expectations.”,” Rosenblatt Securities’ analyst wrote.
Other equities research analysts have also recently issued reports about the company. Sanford C. Bernstein reaffirmed a buy rating and issued a $421.00 price target on shares of Netflix in a research note on Tuesday, December 18th. SunTrust Banks reaffirmed a buy rating and issued a $355.00 price target (down from $410.00) on shares of Netflix in a research note on Wednesday, January 2nd. Royal Bank of Canada reissued a buy rating and issued a $450.00 target price on shares of Netflix in a research note on Thursday, December 6th. ValuEngine raised Netflix from a hold rating to a buy rating in a research note on Monday, January 7th. Finally, UBS Group raised Netflix from a neutral rating to a buy rating in a research note on Thursday, January 10th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $385.03.
Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.19. Netflix had a return on equity of 24.75% and a net margin of 7.61%. The firm had revenue of $4.52 billion during the quarter, compared to the consensus estimate of $4.50 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The business’s revenue was up 22.2% on a year-over-year basis. As a group, analysts predict that Netflix will post 3.35 earnings per share for the current year.
In other news, Director Anne M. Sweeney sold 7,607 shares of Netflix stock in a transaction on Tuesday, February 12th. The stock was sold at an average price of $360.00, for a total value of $2,738,520.00. Following the transaction, the director now directly owns 444 shares in the company, valued at approximately $159,840. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Reed Hastings sold 54,418 shares of Netflix stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $362.00, for a total value of $19,699,316.00. The disclosure for this sale can be found here. Insiders sold a total of 173,440 shares of company stock worth $63,555,861 over the last quarter. Company insiders own 4.29% of the company’s stock.
A number of hedge funds have recently made changes to their positions in NFLX. Oregon Public Employees Retirement Fund grew its stake 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 buying an additional 23,798,143 shares during the last quarter. Norges Bank purchased a new position in Netflix during the 4th quarter worth $1,209,406,000. Capital International Investors purchased a new position in Netflix during the 3rd quarter worth $1,231,337,000. Harris Associates L P grew its stake 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 buying an additional 1,479,651 shares during the last quarter. Finally, Jennison Associates LLC lifted its position 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 during the period. Hedge funds and other institutional investors own 76.14% 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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