Netflix's (NFLX) Buy Rating Reiterated at Guggenheim

Guggenheim reissued their buy rating on shares of Netflix (NASDAQ:NFLX - Free Report) in a research note published on Thursday morning,Benzinga reports. Guggenheim currently has a $1,100.00 price target on the Internet television network's stock.

A number of other analysts have also weighed in on the company. FBN Securities began coverage on Netflix in a research note on Thursday, March 27th. They issued an "outperform" rating and a $1,165.00 target price for the company. Needham & Company LLC boosted their target price on shares of Netflix from $800.00 to $1,150.00 and gave the stock a "buy" rating in a research note on Wednesday, January 22nd. Moffett Nathanson upgraded shares of Netflix from a "neutral" rating to a "buy" rating and upped their target price for the stock from $850.00 to $1,100.00 in a research report on Monday, March 17th. Canaccord Genuity Group raised shares of Netflix from a "hold" rating to a "buy" rating and raised their price target for the company from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Finally, Wolfe Research raised Netflix from a "peer perform" rating to an "outperform" rating and set a $1,100.00 price objective on the stock in a report on Thursday, January 23rd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $1,023.74.

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Netflix Price Performance

Shares of Netflix stock traded down $61.19 during mid-day trading on Thursday, reaching $855.86. 6,781,959 shares of the stock were exchanged, compared to its average volume of 3,622,160. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. The company has a market cap of $366.10 billion, a price-to-earnings ratio of 43.16, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. Netflix has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The firm has a 50-day simple moving average of $972.68 and a 200 day simple moving average of $873.52.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10.14 billion. During the same period in the previous year, the business earned $2.11 EPS. Netflix's revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts predict that Netflix will post 24.58 EPS for the current fiscal year.

Insider Activity at Netflix

In other news, CEO Gregory K. Peters sold 102,228 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $980.74, for a total value of $100,259,088.72. Following the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the transaction, the director now owns 246 shares of the company's stock, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 280,676 shares of company stock valued at $273,515,672. 1.76% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Webster Bank N. A. boosted its position in Netflix by 1.2% during the first quarter. Webster Bank N. A. now owns 2,501 shares of the Internet television network's stock valued at $2,332,000 after purchasing an additional 30 shares during the last quarter. Quent Capital LLC boosted its holdings in shares of Netflix by 3.9% in the 1st quarter. Quent Capital LLC now owns 2,337 shares of the Internet television network's stock valued at $2,179,000 after buying an additional 88 shares during the last quarter. Capital Market Strategies LLC grew its stake in shares of Netflix by 51.9% in the first quarter. Capital Market Strategies LLC now owns 805 shares of the Internet television network's stock valued at $751,000 after buying an additional 275 shares in the last quarter. Central Pacific Bank Trust Division increased its holdings in Netflix by 0.8% during the first quarter. Central Pacific Bank Trust Division now owns 2,470 shares of the Internet television network's stock worth $2,303,000 after buying an additional 20 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in Netflix by 68.1% during the first quarter. Versant Capital Management Inc now owns 1,116 shares of the Internet television network's stock worth $1,041,000 after acquiring an additional 452 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company's stock.

Netflix Company Profile

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.