Citic Securities Cuts Netflix (NASDAQ:NFLX) Price Target to $1,250.00

Netflix (NASDAQ:NFLX) had its price objective reduced by Citic Securities from $1,280.00 to $1,250.00 in a report released on Wednesday,MarketScreener reports. They currently have a hold rating on the Internet television network’s stock.

Several other brokerages have also commented on NFLX. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $1,525.00 price objective on shares of Netflix in a report on Wednesday, October 22nd. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. The Goldman Sachs Group cut their price objective on Netflix from $1,310.00 to $1,300.00 and set a “neutral” rating for the company in a report on Tuesday, September 30th. Rosenblatt Securities lifted their price objective on Netflix from $1,515.00 to $1,530.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Finally, TD Cowen cut their price objective on Netflix from $1,450.00 to $1,425.00 and set a “buy” rating for the company in a report on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $1,341.12.

Netflix Stock Up 2.7%

Netflix stock opened at $1,118.86 on Wednesday. The firm has a market cap of $474.09 billion, a price-to-earnings ratio of 46.74, a PEG ratio of 1.91 and a beta of 1.59. The stock has a fifty day simple moving average of $1,195.64 and a two-hundred day simple moving average of $1,193.32. Netflix has a 12 month low of $747.77 and a 12 month high of $1,341.15. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.56.

Shares of Netflix are going to split on Monday, November 17th. The 10-1 split was announced on Thursday, October 30th. The newly issued shares will be distributed to shareholders after the closing bell on Friday, November 14th.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, October 21st. The Internet television network reported $5.87 EPS for the quarter, missing analysts’ consensus estimates of $6.88 by ($1.01). The business had revenue of $11.51 billion during the quarter, compared to the consensus estimate of $11.52 billion. Netflix had a return on equity of 41.86% and a net margin of 24.05%.The firm’s revenue for the quarter was up 17.2% on a year-over-year basis. During the same period in the previous year, the business posted $5.40 EPS. Netflix has set its FY 2025 guidance at EPS. Q4 2025 guidance at 5.450-5.450 EPS. Equities analysts predict that Netflix will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, insider Cletus R. Willems sold 238 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $1,153.52, for a total transaction of $274,537.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Reed Hastings sold 42,176 shares of the business’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $1,171.92, for a total value of $49,426,897.92. Following the sale, the director directly owned 394 shares of the company’s stock, valued at $461,736.48. This represents a 99.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 78,734 shares of company stock valued at $93,224,176 in the last ninety days. 1.37% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently made changes to their positions in NFLX. BG Investment Services Inc. bought a new position in Netflix in the second quarter worth approximately $338,000. Resurgent Financial Advisors LLC boosted its position in Netflix by 234.4% during the 1st quarter. Resurgent Financial Advisors LLC now owns 1,010 shares of the Internet television network’s stock valued at $942,000 after acquiring an additional 708 shares in the last quarter. MRA Advisory Group boosted its position in Netflix by 28.4% during the 2nd quarter. MRA Advisory Group now owns 919 shares of the Internet television network’s stock valued at $1,231,000 after acquiring an additional 203 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Netflix by 42.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 441,861 shares of the Internet television network’s stock valued at $412,059,000 after acquiring an additional 130,946 shares in the last quarter. Finally, Sava Infond d.o.o. boosted its position in Netflix by 25.1% during the 2nd quarter. Sava Infond d.o.o. now owns 1,495 shares of the Internet television network’s stock valued at $2,002,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.