JPMorgan Chase & Co. Reaffirms “Buy” Rating for Netflix, Inc. (NFLX)

JPMorgan Chase & Co. restated their buy rating on shares of Netflix, Inc. (NASDAQ:NFLX) in a report published on Tuesday. They currently have a $175.00 target price on the Internet television network’s stock.

A number of other research firms have also recently weighed in on NFLX. Vetr cut shares of Netflix from a strong-buy rating to a buy rating and set a $125.96 price objective for the company. in a research report on Wednesday, November 16th. Zacks Investment Research upgraded shares of Netflix from a hold rating to a buy rating and set a $127.00 price objective for the company in a research report on Wednesday, November 16th. Brean Capital initiated coverage on shares of Netflix in a research report on Monday, November 21st. They set a buy rating and a $145.00 price objective for the company. Canaccord Genuity restated a buy rating and set a $140.00 price objective on shares of Netflix in a research report on Sunday, December 4th. Finally, Evercore ISI upgraded shares of Netflix from a sell rating to a hold rating and upped their price objective for the stock from $101.00 to $111.00 in a research report on Tuesday, December 6th. Three equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-eight have assigned a buy rating to the company. The company has an average rating of Buy and an average target price of $137.84.

Netflix (NASDAQ:NFLX) opened at 145.11 on Tuesday. The stock has a market capitalization of $62.46 billion, a PE ratio of 337.47 and a beta of 1.27. Netflix has a 1-year low of $84.50 and a 1-year high of $146.50. The company’s 50 day moving average is $142.28 and its 200-day moving average is $122.90.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Wednesday, January 18th. The Internet television network reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.02. Netflix had a net margin of 2.11% and a return on equity of 7.51%. The firm had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the prior year, the firm posted $0.10 earnings per share. The firm’s quarterly revenue was up 35.9% compared to the same quarter last year. Analysts forecast that Netflix will post $1.13 earnings per share for the current fiscal year.

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In other news, Director Richard N. Barton sold 2,800 shares of Netflix stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $125.73, for a total value of $352,044.00. Following the transaction, the director now directly owns 8,412 shares of the company’s stock, valued at approximately $1,057,640.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Tawni Cranz sold 2,135 shares of Netflix stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $146.49, for a total transaction of $312,756.15. Following the completion of the transaction, the insider now directly owns 2,135 shares in the company, valued at $312,756.15. The disclosure for this sale can be found here. Insiders sold a total of 327,778 shares of company stock worth $44,385,274 over the last ninety days. Corporate insiders own 4.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in NFLX. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Netflix during the fourth quarter worth approximately $114,000. Intellectus Partners LLC acquired a new position in shares of Netflix during the fourth quarter worth approximately $117,000. Quadrant Capital Group LLC boosted its position in shares of Netflix by 3.6% in the third quarter. Quadrant Capital Group LLC now owns 1,528 shares of the Internet television network’s stock worth $139,000 after buying an additional 53 shares during the last quarter. Cornerstone Advisors Inc. boosted its position in shares of Netflix by 49.7% in the third quarter. Cornerstone Advisors Inc. now owns 1,674 shares of the Internet television network’s stock worth $165,000 after buying an additional 556 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Netflix during the third quarter worth approximately $173,000. 80.42% of the stock is currently owned by institutional investors and hedge funds.

About Netflix

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

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