JPMorgan Chase & Co. Issues Pessimistic Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its price objective lowered by JPMorgan Chase & Co. from $1,010.00 to $1,000.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the Internet television network’s stock.

A number of other analysts also recently issued reports on NFLX. Pivotal Research raised their target price on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a report on Saturday, December 21st. Evercore ISI raised their price target on shares of Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. Guggenheim increased their price objective on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Finally, Oppenheimer lifted their target price on Netflix from $825.00 to $1,065.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $824.00.

Netflix Stock Performance

NFLX opened at $837.69 on Friday. Netflix has a twelve month low of $475.26 and a twelve month high of $941.75. The firm has a market capitalization of $358.08 billion, a PE ratio of 47.41, a PEG ratio of 1.77 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $878.06 and its 200 day moving average price is $752.69.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, sell-side analysts expect that Netflix will post 19.78 EPS for the current fiscal year.

Insider Activity

In related news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares of the company’s stock, valued at $216,327.48. This represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 156,742 shares of company stock worth $131,030,268. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFLX. Graypoint LLC grew its position in shares of Netflix by 1.0% during the fourth quarter. Graypoint LLC now owns 4,325 shares of the Internet television network’s stock worth $3,855,000 after acquiring an additional 42 shares during the last quarter. RMR Wealth Builders raised its position in Netflix by 4.8% in the 4th quarter. RMR Wealth Builders now owns 4,863 shares of the Internet television network’s stock valued at $4,335,000 after purchasing an additional 221 shares during the last quarter. HBW Advisory Services LLC boosted its stake in Netflix by 13.3% during the 4th quarter. HBW Advisory Services LLC now owns 4,114 shares of the Internet television network’s stock worth $3,667,000 after purchasing an additional 482 shares during the period. Highline Wealth Partners LLC grew its position in Netflix by 2.5% during the 4th quarter. Highline Wealth Partners LLC now owns 710 shares of the Internet television network’s stock worth $633,000 after purchasing an additional 17 shares during the last quarter. Finally, ORG Wealth Partners LLC increased its stake in Netflix by 5.8% in the fourth quarter. ORG Wealth Partners LLC now owns 760 shares of the Internet television network’s stock valued at $677,000 after purchasing an additional 42 shares during the period. Hedge funds and other 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.