Netflix (NASDAQ:NFLX) Upgraded to Buy at Canaccord Genuity Group

Netflix (NASDAQ:NFLX) was upgraded by investment analysts at Canaccord Genuity Group from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a $1,150.00 target price on the Internet television network’s stock, up from their previous target price of $940.00. Canaccord Genuity Group’s price objective would suggest a potential upside of 32.23% from the company’s current price.

Several other brokerages have also issued reports on NFLX. Argus upped their price target on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Monday, January 6th. KeyCorp upped their target price on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. The Goldman Sachs Group lifted their target price on shares of Netflix from $750.00 to $850.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Loop Capital dropped their price target on shares of Netflix from $950.00 to $925.00 and set a “hold” rating for the company in a research report on Thursday, January 16th. Finally, Benchmark lifted their price objective on Netflix from $555.00 to $720.00 and gave the company a “sell” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $952.30.

Netflix Stock Up 1.3 %

Shares of NFLX stock opened at $869.68 on Wednesday. The stock has a 50 day moving average of $885.64 and a 200-day moving average of $760.81. The firm has a market cap of $371.75 billion, a PE ratio of 49.22, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix has a 12 month low of $479.90 and a 12 month high of $941.75.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. During the same period in the prior year, the firm earned $2.11 EPS. The business’s revenue was up 16.0% on a year-over-year basis. On average, equities analysts predict that Netflix will post 19.76 EPS for the current year.

Insider Buying and Selling at Netflix

In other news, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the sale, the director now owns 246 shares of the company’s stock, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Theodore A. Sarandos sold 1,278 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total transaction of $980,289.90. Following the completion of the sale, the chief executive officer now directly owns 2,556 shares of the company’s stock, valued at $1,960,579.80. This represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,198 shares of company stock valued at $127,616,898 in the last three months. 1.76% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

A number of institutional investors and hedge funds have recently made changes to their positions in NFLX. RPg Family Wealth Advisory LLC acquired a new position in Netflix during the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Netflix in the third quarter valued at about $37,000. FSA Wealth Management LLC bought a new position in Netflix in the third quarter valued at about $38,000. Finally, First Personal Financial Services acquired a new position in Netflix during the third quarter worth about $40,000. Institutional investors 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.