Pivotal Research Reaffirms “Buy” Rating for Netflix (NFLX)

Pivotal Research reissued their buy rating on shares of Netflix (NASDAQ:NFLX) in a research report report published on Tuesday, April 16th, AnalystRatings.com reports. Pivotal Research currently has a $500.00 price objective on the Internet television network’s stock.

Other analysts have also recently issued research reports about the company. Sanford C. Bernstein reissued a buy rating and issued a $421.00 price objective on shares of Netflix in a research report on Tuesday, December 18th. SunTrust Banks restated a buy rating and issued a $402.00 target price on shares of Netflix in a research note on Wednesday, March 27th. UBS Group began coverage on Netflix in a research note on Tuesday, April 2nd. They issued a neutral rating and a $350.00 target price for the company. JPMorgan Chase & Co. reduced their target price on Netflix from $425.00 to $425.00 and set an overweight rating for the company in a research note on Monday, January 14th. Finally, ValuEngine lowered Netflix from a buy rating to a hold rating in a research note on Saturday, April 13th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $385.03.

NASDAQ NFLX traded down $1.62 during midday trading on Tuesday, hitting $362.75. 5,638,734 shares of the company traded hands, compared to its average volume of 9,098,444. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $161.97 billion, a PE ratio of 135.35, a price-to-earnings-growth ratio of 3.83 and a beta of 1.33. Netflix has a 52 week low of $231.23 and a 52 week high of $423.21.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.19. The business had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.50 billion. Netflix had a return on equity of 24.75% and a net margin of 7.61%. The business’s revenue for the quarter was up 22.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. On average, equities analysts predict that Netflix will post 3.35 earnings per share for the current fiscal year.

In other news, CEO Reed Hastings sold 56,966 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $370.74, for a total transaction of $21,119,574.84. Following the transaction, the chief executive officer now directly owns 56,966 shares in the company, valued at approximately $21,119,574.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Anne M. Sweeney sold 7,607 shares of the business’s stock in a transaction that occurred 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 owns 444 shares in the company, valued at $159,840. The disclosure for this sale can be found here. Over the last quarter, insiders sold 173,440 shares of company stock worth $63,555,861. 4.29% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in Netflix by 2.9% in the third quarter. Bank of New York Mellon Corp now owns 3,910,792 shares of the Internet television network’s stock valued at $1,463,144,000 after purchasing an additional 111,054 shares during the period. GSA Capital Partners LLP purchased a new stake in Netflix in the third quarter valued at approximately $685,000. Point72 Hong Kong Ltd raised its position in Netflix by 131.3% in the third quarter. Point72 Hong Kong Ltd now owns 333 shares of the Internet television network’s stock valued at $125,000 after purchasing an additional 189 shares during the period. Advisors Asset Management Inc. raised its position in Netflix by 27.6% in the third quarter. Advisors Asset Management Inc. now owns 10,060 shares of the Internet television network’s stock valued at $3,764,000 after purchasing an additional 2,175 shares during the period. Finally, Macquarie Group Ltd. raised its position in Netflix by 6.1% in the third quarter. Macquarie Group Ltd. now owns 43,422 shares of the Internet television network’s stock valued at $16,245,000 after purchasing an additional 2,512 shares during the period. 76.02% of the stock is currently owned by hedge funds and other institutional investors.

About Netflix

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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