Netflix’s (NFLX) “Overweight” Rating Reaffirmed at Morgan Stanley

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Morgan Stanley reissued their overweight rating on shares of Netflix (NASDAQ:NFLX) in a report released on Friday morning, The Fly reports. They currently have a $430.00 target price on the Internet television network’s stock, down from their previous target price of $475.00.

A number of other analysts have also commented on the stock. MKM Partners boosted their price objective on shares of Netflix from $395.00 to $415.00 and gave the stock a buy rating in a research report on Friday, November 16th. Royal Bank of Canada boosted their price objective on shares of Netflix to $450.00 and gave the stock an outperform rating in a research report on Wednesday, October 17th. JPMorgan Chase & Co. boosted their price objective on shares of Netflix to $450.00 and gave the stock an overweight rating in a research report on Wednesday, October 17th. BidaskClub raised shares of Netflix from a hold rating to a buy rating in a research report on Friday, October 19th. Finally, Pivotal Research boosted their price objective on shares of Netflix from $435.00 to $480.00 and gave the stock a buy rating in a research report on Wednesday, October 17th. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirty have given a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of Buy and a consensus price target of $365.74.

Shares of NASDAQ NFLX opened at $337.59 on Friday. The company has a market cap of $139.53 billion, a P/E ratio of 270.07, a PEG ratio of 2.62 and a beta of 1.12. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.66. Netflix has a 52-week low of $216.00 and a 52-week high of $423.21.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.21. Netflix had a net margin of 8.48% and a return on equity of 29.52%. The firm had revenue of $4 billion for the quarter, compared to analyst estimates of $3.99 billion. During the same quarter in the previous year, the firm posted $0.29 earnings per share. The business’s revenue was up 34.0% on a year-over-year basis. As a group, equities research analysts predict that Netflix will post 2.63 earnings per share for the current year.

In related news, Director Timothy M. Haley sold 21,882 shares of the company’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $336.41, for a total transaction of $7,361,323.62. Following the completion of the sale, the director now owns 9,177 shares of the company’s stock, valued at $3,087,234.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Reed Hastings sold 63,147 shares of the company’s stock in a transaction dated Monday, December 24th. The stock was sold at an average price of $241.12, for a total transaction of $15,226,004.64. Following the sale, the chief executive officer now directly owns 63,147 shares of the company’s stock, valued at approximately $15,226,004.64. The disclosure for this sale can be found here. Insiders sold 288,664 shares of company stock worth $84,190,971 over the last 90 days. 4.29% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Netflix by 0.8% during the third quarter. Vanguard Group Inc. now owns 30,143,430 shares of the Internet television network’s stock worth $11,277,562,000 after purchasing an additional 249,147 shares during the period. Vanguard Group Inc lifted its holdings in shares of Netflix by 0.8% in the third quarter. Vanguard Group Inc now owns 30,143,430 shares of the Internet television network’s stock worth $11,277,562,000 after acquiring an additional 249,147 shares during the last quarter. FMR LLC raised its holdings in Netflix by 6.1% in the 2nd quarter. FMR LLC now owns 26,511,408 shares of the Internet television network’s stock valued at $10,377,360,000 after buying an additional 1,534,290 shares during the last quarter. Capital World Investors raised its holdings in Netflix by 4.6% in the 3rd quarter. Capital World Investors now owns 10,188,305 shares of the Internet television network’s stock valued at $3,811,751,000 after buying an additional 443,510 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in Netflix by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 8,806,550 shares of the Internet television network’s stock valued at $3,294,795,000 after buying an additional 328,527 shares during the last quarter. 73.97% of the stock is owned by institutional investors and hedge funds.

About Netflix

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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