Netflix (NASDAQ:NFLX) Price Target Increased to $675.00 by Analysts at Citigroup

Netflix (NASDAQ:NFLX) had its price objective upped by Citigroup from $660.00 to $675.00 in a research report released on Monday, Benzinga reports. Citigroup currently has a neutral rating on the Internet television network’s stock.

A number of other analysts have also weighed in on NFLX. Loop Capital raised their price objective on shares of Netflix from $700.00 to $750.00 and gave the company a buy rating in a research note on Tuesday, June 18th. Guggenheim increased their price objective on shares of Netflix from $700.00 to $735.00 and gave the company a buy rating in a research report on Wednesday, July 17th. Piper Sandler lifted their target price on shares of Netflix from $600.00 to $650.00 and gave the stock a neutral rating in a research report on Friday, July 19th. Wells Fargo & Company increased their price target on Netflix from $650.00 to $726.00 and gave the company an overweight rating in a report on Friday, April 19th. Finally, Argus increased their price target on Netflix from $660.00 to $767.00 and gave the company a buy rating in a report on Tuesday, July 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $681.21.

Netflix Stock Down 0.3 %

NASDAQ:NFLX opened at $634.09 on Monday. The firm has a market cap of $272.13 billion, a P/E ratio of 44.00, a P/E/G ratio of 1.32 and a beta of 1.27. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.07 and a current ratio of 0.95. Netflix has a fifty-two week low of $344.73 and a fifty-two week high of $697.49. The firm has a 50-day simple moving average of $657.85 and a two-hundred day simple moving average of $607.11.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s revenue was up 16.8% compared to the same quarter last year. During the same period last year, the business earned $3.29 EPS. Analysts predict that Netflix will post 19.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Director Anne M. Sweeney sold 633 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Netflix news, Director Anne M. Sweeney sold 633 shares of the stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Reed Hastings sold 22,526 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $38,217.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,385 shares of company stock worth $44,469,351. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Valued Wealth Advisors LLC grew its position in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 20 shares in the last quarter. Proffitt & Goodson Inc. grew its position in shares of Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 38 shares in the last quarter. AlphaMark Advisors LLC grew its position in shares of Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares in the last quarter. Indiana Trust & Investment Management CO grew its position in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in shares of Netflix during the second quarter valued at about $38,000. 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.