Citigroup Lowers Netflix (NASDAQ:NFLX) to Neutral

Citigroup lowered shares of Netflix (NASDAQ:NFLX) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, Benzinga reports. Citigroup currently has $325.00 target price on the Internet television network’s stock, down from their prior target price of $410.00.

NFLX has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Netflix from a hold rating to a sell rating and set a $295.00 price target on the stock. in a report on Friday, October 11th. Macquarie cut shares of Netflix from an outperform rating to a neutral rating and cut their price objective for the company from $375.00 to $325.00 in a report on Thursday, October 17th. Guggenheim decreased their price objective on shares of Netflix from $420.00 to $400.00 and set a buy rating for the company in a research report on Thursday, October 17th. Morgan Stanley lowered their target price on shares of Netflix from $450.00 to $400.00 and set an overweight rating on the stock in a research note on Monday, October 14th. Finally, Pivotal Research dropped their target price on Netflix from $515.00 to $350.00 and set a buy rating on the stock in a research report on Tuesday, September 24th. Six investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $364.72.

Shares of NFLX stock opened at $306.16 on Tuesday. Netflix has a twelve month low of $231.23 and a twelve month high of $385.99. The stock has a market cap of $134.05 billion, a P/E ratio of 114.24, a P/E/G ratio of 3.13 and a beta of 1.30. The stock has a 50 day moving average of $293.08 and a 200 day moving average of $315.26. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 1.81.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Wednesday, October 16th. The Internet television network reported $1.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.42. The business had revenue of $5.25 billion for the quarter, compared to analyst estimates of $5.25 billion. Netflix had a return on equity of 23.65% and a net margin of 7.49%. The business’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 EPS. On average, research analysts predict that Netflix will post 3.35 earnings per share for the current fiscal year.

In other Netflix news, CEO Reed Hastings sold 43,372 shares of Netflix stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $266.57, for a total transaction of $11,561,674.04. Following the sale, the chief executive officer now owns 43,372 shares of the company’s stock, valued at approximately $11,561,674.04. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 137,949 shares of company stock worth $39,615,261. 3.72% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of the company. Nuveen Asset Management LLC acquired a new stake in shares of Netflix in the second quarter valued at approximately $1,246,724,000. Invesco Ltd. boosted its stake in Netflix by 39.1% during the second quarter. Invesco Ltd. now owns 7,249,377 shares of the Internet television network’s stock worth $2,662,841,000 after buying an additional 2,039,046 shares during the last quarter. Fisher Asset Management LLC boosted its stake in Netflix by 142.6% during the third quarter. Fisher Asset Management LLC now owns 2,216,329 shares of the Internet television network’s stock worth $593,134,000 after buying an additional 1,302,678 shares during the last quarter. Vanguard Group Inc. grew its holdings in Netflix by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 32,688,805 shares of the Internet television network’s stock valued at $12,007,252,000 after buying an additional 1,118,349 shares in the last quarter. Finally, OZ Management LP purchased a new stake in Netflix in the 2nd quarter valued at $228,716,000. Institutional investors and hedge funds own 80.83% 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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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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