Fintel reports that on July 5, 2023, Goldman Sachs upgraded their outlook for Netflix (NASDAQ:NFLX) from Sell to Neutral.

Analyst Price Forecast Suggests 15.50% Downside

As of June 1, 2023, the average one-year price target for Netflix is 373.03. The forecasts range from a low of 217.15 to a high of $493.50. The average price target represents a decrease of 15.50% from its latest reported closing price of 441.44.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Netflix is 34,642MM, an increase of 8.56%. The projected annual non-GAAP EPS is 10.75.

What is the Fund Sentiment?

There are 3072 funds or institutions reporting positions in Netflix. This is an increase of 63 owner(s) or 2.09% in the last quarter. Average portfolio weight of all funds dedicated to NFLX is 0.63%, an increase of 2.94%. Total shares owned by institutions increased in the last three months by 10.07% to 468,267K shares. The put/call ratio of NFLX is 1.04, indicating a bearish outlook.

What are Other Shareholders Doing?

Ofi Invest Asset Management holds 41,359K shares representing 9.30% ownership of the company.

Capital Research Global Investors holds 18,894K shares representing 4.25% ownership of the company. In it’s prior filing, the firm reported owning 18,542K shares, representing an increase of 1.86%. The firm increased its portfolio allocation in NFLX by 12.73% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 13,787K shares representing 3.10% ownership of the company. In it’s prior filing, the firm reported owning 13,527K shares, representing an increase of 1.89%. The firm increased its portfolio allocation in NFLX by 10.27% over the last quarter.

Capital International Investors holds 12,421K shares representing 2.79% ownership of the company. In it’s prior filing, the firm reported owning 14,930K shares, representing a decrease of 20.20%. The firm decreased its portfolio allocation in NFLX by 6.59% over the last quarter.

AGTHX – GROWTH FUND OF AMERICA holds 12,201K shares representing 2.74% ownership of the company. In it’s prior filing, the firm reported owning 12,615K shares, representing a decrease of 3.39%. The firm increased its portfolio allocation in NFLX by 3.30% over the last quarter.

Netflix Background Information
(This description is provided by the company.)

Netflix is the world’s leading streaming entertainment service with over 195 million paid memberships in over 190 countries enjoying TV series, documentaries and feature films across a wide variety of genres and languages. Members can watch as much as they want, anytime, anywhere, on any internet-connected screen. Members can play, pause and resume watching, all without commercials or commitments.

Additional reading:

• Form 10-Q
• Three Months Ended March 31, 2023 December 31, 2022 March 31, 2022 Revenues $ 8,161,503 $ 7,852,053 $ 7,867,767 Cost of revenues 4,803,625 5,404,160 4,284,705 Marketing 555,362 831,610 555,978 Technology and development 687,275 673,926 657,530 Genera
• Form 10-K
• Annualized Performance (%)* 1 Year 3 Year 5 Year 10 Year Since IPO NFLX -51% -3% 9% 36% 31% S&P 500 -18% 8% 9% 13% 8% NASDAQ -33% 6% 10% 15% 10% Cumulative Return (%)* 1 Year 3 Year 5 Year 10 Year Since IPO NFLX -51% -9% 54% 2,129% 27,422% S&P 500 -1
• Form 10-Q

This article originally appeared on Fintel

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