Rosenblatt Securities Reiterates “Neutral” Rating for Netflix (NASDAQ:NFLX)

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Rosenblatt Securities reiterated their neutral rating on shares of Netflix (NASDAQ:NFLX) in a report issued on Wednesday, AnalystRatings.com reports. They currently have a $370.00 target price on the Internet television network’s stock, up from their prior target price of $350.00.

“We increase our price target to $370 driven by a higher implied target multiple and slightly higher international estimates. Pivoting to churn reduction content strategy as domestic scale reached and content competition intensifies. The primary driver of gross adds to SVOD services is first run, high quality original series. NFLX has been successful in this category, most recently by reporting 41M HH watching Stranger Things season 3 in the first five days of launch. However, binge watching drives the need to create even more content. In order to fill the time between original series NFLX has increasingly focused on individual originals like comedy specials, documentaries and movies.”,” the firm’s analyst commented.

A number of other equities research analysts have also recently commented on NFLX. Imperial Capital reaffirmed an outperform rating and issued a $78.00 target price (down from $83.00) on shares of Spirit Airlines in a report on Friday, April 26th. BidaskClub cut shares of Walgreens Boots Alliance from a sell rating to a strong sell rating in a report on Monday, June 24th. Wedbush upped their target price on shares of Netflix from $165.00 to $183.00 and gave the company an underperform rating in a report on Wednesday, April 17th. UBS Group cut shares of Ecolab from a buy rating to a neutral rating and upped their target price for the company from $180.00 to $186.00 in a report on Thursday, April 18th. Finally, ValuEngine cut shares of Zuora from a buy rating to a hold rating in a report on Saturday, June 1st. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Netflix currently has an average rating of Buy and an average target price of $393.24.

Shares of NFLX opened at $373.25 on Wednesday. Netflix has a 1-year low of $231.23 and a 1-year high of $410.00. The stock has a market capitalization of $165.92 billion, a PE ratio of 139.27, a PEG ratio of 3.78 and a beta of 1.26. The company has a current ratio of 0.61, a quick ratio of 0.61 and a debt-to-equity ratio of 1.81. The company has a fifty day moving average of $361.38.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, April 16th. The Internet television network reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.19. Netflix had a net margin of 7.61% and a return on equity of 24.75%. The firm had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.50 billion. During the same period in the previous year, the company earned $0.64 earnings per share. Netflix’s quarterly revenue was up 22.2% compared to the same quarter last year. On average, analysts anticipate that Netflix will post 3.35 earnings per share for the current fiscal year.

In other Netflix news, CEO Reed Hastings sold 56,966 shares of the company’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $370.74, for a total transaction of $21,119,574.84. Following the transaction, the chief executive officer now directly owns 56,966 shares in the company, valued at $21,119,574.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ann Mather sold 1,208 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $375.00, for a total transaction of $453,000.00. Following the transaction, the director now owns 357 shares in the company, valued at $133,875. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 167,486 shares of company stock worth $60,955,416. Company insiders own 4.29% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of NFLX. Clarfeld Financial Advisors LLC acquired a new position in Netflix during the fourth quarter worth about $27,000. TCG Advisors LP acquired a new position in Netflix during the first quarter worth about $36,000. Joseph P. Lucia & Associates LLC acquired a new position in Netflix during the first quarter worth about $44,000. Thompson Siegel & Walmsley LLC grew its position in Netflix by 182.0% during the first quarter. Thompson Siegel & Walmsley LLC now owns 141 shares of the Internet television network’s stock worth $50,000 after buying an additional 91 shares during the period. Finally, Aspire Private Capital LLC acquired a new position in Netflix during the fourth quarter worth about $52,000. Institutional investors own 77.02% of the company’s stock.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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