New Street Research Initiates Coverage on Netflix (NASDAQ:NFLX)

Equities research analysts at New Street Research started coverage on shares of Netflix (NASDAQ:NFLX - Get Rating) in a research note issued on Wednesday, Benzinga reports. The brokerage set a "neutral" rating and a $304.00 price target on the Internet television network's stock. New Street Research's price target would suggest a potential upside of 3.07% from the company's previous close.

Several other brokerages have also recently weighed in on NFLX. Cowen set a $405.00 target price on shares of Netflix in a report on Friday, December 9th. Citigroup boosted their target price on shares of Netflix from $275.00 to $305.00 and gave the stock a "buy" rating in a research note on Friday, September 16th. JPMorgan Chase & Co. upgraded Netflix from a "neutral" rating to an "overweight" rating and raised their price target for the company from $240.00 to $330.00 in a research note on Wednesday, October 19th. Cowen upped their price objective on Netflix to $405.00 in a research report on Friday, December 9th. Finally, The Goldman Sachs Group dropped their price objective on Netflix from $186.00 to $182.00 and set a "sell" rating on the stock in a report on Tuesday, October 11th. Three equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and twenty-one have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $322.54.

Netflix Trading Up 0.0 %

Shares of NASDAQ NFLX opened at $294.95 on Wednesday. The stock has a fifty day simple moving average of $292.98 and a 200-day simple moving average of $247.11. Netflix has a twelve month low of $162.71 and a twelve month high of $600.41. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $131.26 billion, a PE ratio of 26.43, a PEG ratio of 3.23 and a beta of 1.27.

Netflix (NASDAQ:NFLX - Get Rating) last posted its quarterly earnings results on Tuesday, October 18th. The Internet television network reported $3.10 EPS for the quarter, topping the consensus estimate of $2.11 by $0.99. The business had revenue of $7.93 billion during the quarter, compared to the consensus estimate of $7.84 billion. Netflix had a net margin of 16.03% and a return on equity of 27.64%. The company's quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.19 earnings per share. On average, equities analysts forecast that Netflix will post 10.31 earnings per share for the current year.

Institutional Trading of Netflix

Hedge funds have recently modified their holdings of the business. Pershing Square Capital Management L.P. purchased a new position in Netflix in the first quarter worth $1,164,962,000. Loomis Sayles & Co. L P boosted its holdings in Netflix by 526,574.6% during the first quarter. Loomis Sayles & Co. L P now owns 3,107,380 shares of the Internet television network's stock worth $1,163,993,000 after buying an additional 3,106,790 shares in the last quarter. Polen Capital Management LLC boosted its stake in shares of Netflix by 53.9% during the 3rd quarter. Polen Capital Management LLC now owns 7,332,431 shares of the Internet television network's stock worth $1,726,348,000 after acquiring an additional 2,569,072 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Netflix by 21.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 11,405,142 shares of the Internet television network's stock valued at $2,690,289,000 after purchasing an additional 1,991,099 shares during the last quarter. Finally, Jennison Associates LLC grew its position in shares of Netflix by 77.7% in the third quarter. Jennison Associates LLC now owns 2,601,128 shares of the Internet television network's stock valued at $612,410,000 after purchasing an additional 1,137,471 shares during the last quarter. 77.26% of the stock is owned by institutional investors and hedge funds.

About Netflix

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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