Macquarie lowered shares of Netflix (NASDAQ:NFLX – Get Rating) to a sell rating in a report released on Friday, TipRanks reports.
Several other research analysts have also recently weighed in on NFLX. Stifel Nicolaus cut Netflix from a buy rating to a hold rating and reduced their price target for the company from $460.00 to $300.00 in a research report on Wednesday. Atlantic Securities cut shares of Netflix from an overweight rating to a neutral rating and set a $280.00 target price for the company. in a research note on Wednesday. Loop Capital reissued a hold rating on shares of Netflix in a research note on Thursday. BMO Capital Markets cut their target price on shares of Netflix from $640.00 to $405.00 and set a buy rating for the company in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Netflix from $465.00 to $300.00 and set a hold rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Netflix currently has a consensus rating of Hold and an average target price of $386.31.
NFLX stock traded down $2.70 during trading on Friday, reaching $215.52. 37,460,181 shares of the company traded hands, compared to its average volume of 13,961,613. Netflix has a 12 month low of $210.05 and a 12 month high of $700.99. The business has a 50 day simple moving average of $360.29 and a 200 day simple moving average of $504.09. The company has a market capitalization of $95.75 billion, a price-to-earnings ratio of 19.56, a price-to-earnings-growth ratio of 0.81 and a beta of 0.97. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.95 and a current ratio of 1.05.
Netflix (NASDAQ:NFLX – Get Rating) last issued its quarterly earnings data on Tuesday, April 19th. The Internet television network reported $3.53 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.63. The company had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.94 billion. Netflix had a return on equity of 32.01% and a net margin of 16.47%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $3.75 earnings per share. As a group, research analysts forecast that Netflix will post 10.88 EPS for the current year.
In other news, CEO Reed Hastings bought 46,900 shares of Netflix stock in a transaction dated Thursday, January 27th. The stock was bought at an average price of $390.08 per share, for a total transaction of $18,294,752.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.40% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Kovitz Investment Group Partners LLC grew its holdings in shares of Netflix by 4,459.0% during the first quarter. Kovitz Investment Group Partners LLC now owns 18,783 shares of the Internet television network’s stock worth $7,036,000 after buying an additional 18,371 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Netflix by 31.1% during the first quarter. Allworth Financial LP now owns 8,011 shares of the Internet television network’s stock worth $3,001,000 after buying an additional 1,902 shares in the last quarter. Bank of The West grew its holdings in shares of Netflix by 14.7% during the first quarter. Bank of The West now owns 12,402 shares of the Internet television network’s stock worth $4,645,000 after buying an additional 1,591 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Netflix by 35.4% during the first quarter. Truist Financial Corp now owns 98,862 shares of the Internet television network’s stock worth $37,032,000 after buying an additional 25,874 shares in the last quarter. Finally, FARMERS & MERCHANTS TRUST Co OF LONG BEACH grew its holdings in shares of Netflix by 9.5% during the first quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 1,838 shares of the Internet television network’s stock worth $688,000 after buying an additional 159 shares in the last quarter. Institutional investors and hedge funds own 81.37% of the company’s stock.
Netflix Company Profile (Get Rating)
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.
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