Netflix (NASDAQ:NFLX) gets a hold rating from Canaccord Genuity Group


Netflix (NASDAQ:NFLX – Get a Free Report)The stock’s “hold” rating was reissued by equities research analysts at Canaccord Genuity Group in a research note issued Friday, MarketBeat reports. They currently have a $585.00 price target on the internet television network’s stock, down from their previous price target of $720.00. Canaccord Genuity Group’s price target suggests a potential upside of 5.40% from the company’s current share price.

Other equity research analysts have also recently released research reports on the company. Evercore ISI raised their price target on Netflix from $600.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, March 14. BMO Capital Markets reissued an “outperform” rating and set a $713.00 target price (previously from $638.00) for shares of Netflix in a report on Wednesday. Piper Sandler raised their target price on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a report on Friday, April 12. TD Cowen raised their target price on Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a report on Monday, April 8. Finally, Redburn Atlantic raised their price target on Netflix from $550.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $630.58.

Check out our latest research report on NFLX

Netflix is ​​trading 9.1% lower

Shares of Netflix opened at $555.04 on Friday. The company has a fifty-day simple moving average of $605.65 and a two-hundred-day simple moving average of $514.02. Netflix has a 1-year low of $315.62 and a 1-year high of $639.00. The company has a market cap of $240.20 billion, a price-to-earnings ratio of 38.52, a price-to-earnings ratio of 1.64, and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12.

Netflix (NASDAQ:NFLX – Get Free Report) last reported its quarterly results on Thursday, April 18. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.46% and a net margin of 18.42%. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter last year, the company posted earnings per share of $2.88. The company’s quarterly revenue rose 14.8% year over year. Research analysts predict that Netflix will post 17.08 earnings per share for the current year.

Buying and selling with insider information

In related news, insider David A. Hyman sold 47,574 shares of Netflix stock in a transaction that occurred on Wednesday, January 24. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Netflix news, insider David A. Hyman sold 47,574 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the Chairman now directly owns 28 shares in the company, valued at $17,091.76. The explanation of this sale can be found here. Insiders have sold a total of 268,335 shares of the company’s stock, valued at $151,619,811, over the last ninety days. 2.45% of the shares are owned by company insiders.

Institutional investors are considering Netflix

Hedge funds and other institutional investors have recently changed their holdings in the company. Indiana Trust & Investment Management CO increased its stake in Netflix shares by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the internet television network’s stock worth $32,000 after acquiring an additional 28 shares in the last quarter. VitalStone Financial LLC grew its holdings in shares of Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the internet television network’s stock worth $30,000 after acquiring an additional 56 shares in the last quarter. Scarborough Advisors LLC bought a new stake in shares of Netflix in the fourth quarter worth approximately $32,000. Aspect Partners LLC bought a new stake in shares of Netflix in the fourth quarter worth approximately $32,000. Finally, Authentikos Wealth Advisory LLC bought a new stake in Netflix worth $25,000 in the third quarter. Institutional investors own 80.93% of the company’s shares.

Netflix company profile

(Get a free report)

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films and games in different genres and languages. The company also offers members the ability to receive streaming content through a variety of Internet-connected devices, including TVs, digital video players, TV set-top boxes and mobile devices.

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Analyst Recommendations for Netflix (NASDAQ:NFLX)



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