Netflix (NASDAQ:NFLX) Upgraded at Oppenheimer

Oppenheimer upgraded shares of Netflix (NASDAQ:NFLXGet Rating) from a market perform rating to an outperform rating in a research note published on Monday, MarketBeat Ratings reports. Oppenheimer currently has $325.00 target price on the Internet television network’s stock. Oppenheimer also issued estimates for Netflix’s Q4 2022 earnings at $1.00 EPS, FY2022 earnings at $9.87 EPS, FY2023 earnings at $12.64 EPS, FY2024 earnings at $14.34 EPS and FY2025 earnings at $16.95 EPS.

Several other equities analysts also recently weighed in on NFLX. Credit Suisse Group cut their price target on shares of Netflix from $350.00 to $263.00 and set a neutral rating on the stock in a report on Wednesday, July 20th. BMO Capital Markets dropped their price objective on shares of Netflix from $405.00 to $365.00 and set an outperform rating on the stock in a research note on Thursday, July 14th. Wolfe Research raised their price objective on shares of Netflix from $234.00 to $251.00 and gave the stock an outperform rating in a research note on Wednesday, July 20th. Pivotal Research dropped their price objective on shares of Netflix from $235.00 to $175.00 and set a sell rating on the stock in a research note on Wednesday, July 20th. Finally, Cfra cut shares of Netflix from a hold rating to a sell rating and dropped their price objective for the stock from $245.00 to $238.00 in a research note on Monday, August 22nd. Six analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $305.67.

Netflix Stock Performance

Shares of Netflix stock opened at $237.05 on Monday. Netflix has a 52 week low of $162.71 and a 52 week high of $700.99. The company has a 50 day moving average price of $228.35 and a 200 day moving average price of $240.66. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $105.42 billion, a P/E ratio of 21.07, a PEG ratio of 1.69 and a beta of 1.34.

Netflix (NASDAQ:NFLXGet Rating) last issued its quarterly earnings results on Tuesday, July 19th. The Internet television network reported $3.20 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.30. Netflix had a net margin of 16.42% and a return on equity of 30.07%. The company had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $8.03 billion. During the same quarter in the prior year, the company earned $2.97 EPS. Netflix’s quarterly revenue was up 8.6% on a year-over-year basis. Sell-side analysts expect that Netflix will post 10.04 EPS for the current year.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently modified their holdings of the business. Icapital Wealth LLC acquired a new stake in shares of Netflix during the 1st quarter worth about $25,000. Gould Capital LLC acquired a new position in Netflix in the 2nd quarter valued at about $26,000. Tevis Investment Management grew its position in Netflix by 133.3% in the 2nd quarter. Tevis Investment Management now owns 175 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 100 shares in the last quarter. Avondale Wealth Management grew its position in Netflix by 483.3% in the 2nd quarter. Avondale Wealth Management now owns 175 shares of the Internet television network’s stock valued at $31,000 after acquiring an additional 145 shares in the last quarter. Finally, Lloyd Advisory Services LLC. grew its position in Netflix by 2,075.0% in the 1st quarter. Lloyd Advisory Services LLC. now owns 87 shares of the Internet television network’s stock valued at $33,000 after acquiring an additional 83 shares in the last quarter. 75.52% of the stock is owned by institutional investors and hedge funds.

About Netflix

(Get Rating)

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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