After J.P. Morgan and RBC Capital gave Netflix (NASDAQ: NFLX) a Buy rating last month, the company received another Buy, this time from Jefferies. Analyst Alex Giaimo maintained a Buy rating on Netflix today and set a price target of $570.00. The company’s shares closed last Friday at $482.88.
According to TipRanks.com, Giaimo is a 4-star analyst with an average return of 16.4% and a 68.8% success rate. Giaimo covers the Consumer Goods sector, focusing on stocks such as Activision Blizzard, Electronic Arts, and Take-Two.
Netflix has an analyst consensus of Moderate Buy, with a price target consensus of $523.27, which is a 10.3% upside from current levels. In a report issued on September 14, KeyBanc also initiated coverage with a Buy rating on the stock with a $590.00 price target.
Based on Netflix’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $6.15 billion and net profit of $720 million. In comparison, last year the company earned revenue of $4.92 billion and had a net profit of $271 million.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NFLX in relation to earlier this year. Earlier this month, Richard N. Barton, a Director at NFLX sold 4,907 shares for a total of $2,698,850.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Netflix, Inc. is a streaming entertainment service company, which provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting solely of streaming content to its members in the United States. The International Streaming segment includes fees from members outside the United States. The Domestic DVD segment covers revenues from services consisting solely of DVD-by-mail. The company was founded by Marc Randolph and Wilmot Reed Hastings Jr., on August 29, 1997 and is headquartered in Los Gatos, CA.