Netflix (NASDAQ:NFLX) had its target price reduced by equities research analysts at JPMorgan Chase & Co. to $425.00 in a note issued to investors on Monday, Marketbeat.com reports. The firm presently has an “overweight” rating on the Internet television network’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 23.03% from the stock’s current price.

A number of other brokerages have also commented on NFLX. MKM Partners upped their target price on Netflix from $395.00 to $415.00 and gave the company a “buy” rating in a research report on Friday, November 16th. Royal Bank of Canada boosted their price target on Netflix to $450.00 and gave the company an “outperform” rating in a report on Wednesday, October 17th. BidaskClub raised Netflix from a “hold” rating to a “buy” rating in a report on Friday, October 19th. Pivotal Research boosted their price target on Netflix from $435.00 to $480.00 and gave the company a “buy” rating in a report on Wednesday, October 17th. Finally, Credit Suisse Group set a $470.00 price target on Netflix and gave the company a “buy” rating in a report on Wednesday, October 17th. Six investment analysts have rated the stock with a sell rating, six have given a hold rating, thirty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Netflix currently has an average rating of “Buy” and an average target price of $370.60.

NASDAQ NFLX traded down $7.75 during trading hours on Monday, reaching $345.44. The stock had a trading volume of 15,474,048 shares, compared to its average volume of 13,607,976. The firm has a market cap of $153.24 billion, a P/E ratio of 276.35, a P/E/G ratio of 2.89 and a beta of 1.12. Netflix has a 52-week low of $216.32 and a 52-week high of $423.21. The company has a quick ratio of 1.39, a current ratio of 1.39 and a debt-to-equity ratio of 1.66.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, January 17th. The Internet television network reported $0.30 EPS for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.06. The firm had revenue of $4.19 billion for the quarter, compared to analyst estimates of $4.21 billion. Netflix had a return on equity of 29.52% and a net margin of 8.48%. Netflix’s revenue for the quarter was up 27.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.41 earnings per share. As a group, research analysts expect that Netflix will post 2.63 earnings per share for the current year.

In related news, insider Kelly Bennett sold 14,000 shares of the stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $300.00, for a total value of $4,200,000.00. Following the completion of the transaction, the insider now directly owns 1,057 shares of the company’s stock, valued at approximately $317,100. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Reed Hastings sold 63,147 shares of the company’s stock in a transaction on Monday, December 24th. The shares were sold at an average price of $241.12, for a total value of $15,226,004.64. Following the completion of the sale, the chief executive officer now owns 63,147 shares of the company’s stock, valued at $15,226,004.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 269,351 shares of company stock valued at $77,728,798. 4.29% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of NFLX. Capital International Investors purchased a new stake in Netflix in the 3rd quarter valued at $1,231,337,000. FMR LLC grew its holdings in Netflix by 6.1% in the 2nd quarter. FMR LLC now owns 26,511,408 shares of the Internet television network’s stock valued at $10,377,360,000 after buying an additional 1,534,290 shares in the last quarter. SG Americas Securities LLC grew its holdings in Netflix by 109.2% in the 3rd quarter. SG Americas Securities LLC now owns 89,706 shares of the Internet television network’s stock valued at $33,562,000 after buying an additional 1,063,944 shares in the last quarter. Capital World Investors grew its holdings in Netflix by 4.6% in the 3rd quarter. Capital World Investors now owns 10,188,305 shares of the Internet television network’s stock valued at $3,811,751,000 after buying an additional 443,510 shares in the last quarter. Finally, Jennison Associates LLC grew its holdings in Netflix by 3.9% in the 3rd quarter. Jennison Associates LLC now owns 8,806,550 shares of the Internet television network’s stock valued at $3,294,795,000 after buying an additional 328,527 shares in the last quarter. Institutional investors own 73.97% of the company’s stock.

About Netflix

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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