CICC Research Begins Coverage on Netflix (NASDAQ:NFLX)

Research analysts at CICC Research initiated coverage on shares of Netflix (NASDAQ:NFLX) in a report released on Thursday, Benzinga reports. The firm set an “outperform” rating and a $650.00 price target on the Internet television network’s stock. CICC Research’s target price would indicate a potential upside of 17.82% from the stock’s previous close.

Several other research firms have also weighed in on NFLX. DZ Bank raised Netflix from a “hold” rating to a “buy” rating and set a $600.00 price target on the stock in a research report on Thursday, January 25th. JPMorgan Chase & Co. upped their target price on Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Macquarie raised their price target on shares of Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. TD Cowen upped their price objective on shares of Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Finally, Bank of America lifted their target price on shares of Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $631.15.

Netflix Price Performance

NASDAQ NFLX opened at $551.71 on Thursday. Netflix has a 1 year low of $315.62 and a 1 year high of $639.00. The stock’s 50-day moving average price is $603.12 and its two-hundred day moving average price is $524.53. The company has a market cap of $237.73 billion, a PE ratio of 38.29, a PEG ratio of 1.35 and a beta of 1.23. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the prior year, the firm earned $2.88 EPS. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. On average, analysts predict that Netflix will post 18.13 EPS for the current year.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $17,575,476.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Netflix news, CFO Spencer Adam Neumann sold 565 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $565.37, for a total transaction of $319,434.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $17,575,476.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 133,839 shares of company stock valued at $77,788,745. 1.76% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

Several institutional investors have recently bought and sold shares of NFLX. Valued Wealth Advisors LLC grew its holdings in shares of Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the last quarter. Indiana Trust & Investment Management CO boosted its position in Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares in the last quarter. VitalStone Financial LLC grew its stake in Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after buying an additional 56 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Netflix during the fourth quarter worth approximately $32,000. Finally, Authentikos Wealth Advisory LLC bought a new position in shares of Netflix in the third quarter valued at approximately $25,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.