Netflix (NASDAQ:NFLX) Raised to “Buy” at Canaccord Genuity Group

Canaccord Genuity Group upgraded shares of Netflix (NASDAQ:NFLX) from a hold rating to a buy rating in a report released on Wednesday morning, Marketbeat reports. Canaccord Genuity Group currently has $1,150.00 target price on the Internet television network’s stock, up from their prior target price of $940.00.

A number of other brokerages also recently weighed in on NFLX. KeyCorp boosted their price target on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Argus raised their price target on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and upped their price objective for the company from $680.00 to $1,494.00 in a research note on Wednesday. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. Finally, The Goldman Sachs Group upped their price target on Netflix from $750.00 to $850.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $993.82.

Netflix Stock Performance

Shares of Netflix stock opened at $953.99 on Wednesday. The company has a market cap of $407.79 billion, a PE ratio of 53.99, 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 52 week low of $481.40 and a 52 week high of $999.00. The business has a 50 day moving average price of $886.64 and a 200-day moving average price of $762.07.

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

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard N. Barton sold 5,698 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $756.00, for a total value of $4,307,688.00. Following the transaction, the director now directly owns 246 shares of the company’s stock, valued at approximately $185,976. This trade represents a 95.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,198 shares of company stock valued at $127,616,898. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC purchased a new position in Netflix in the 3rd quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix during the third quarter valued at approximately $37,000. FSA Wealth Management LLC bought a new position in Netflix during the third quarter valued at approximately $38,000. Finally, First Personal Financial Services purchased a new stake in Netflix in the third quarter worth approximately $40,000. 80.93% of the stock is owned by institutional investors.

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.