Bank of America Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX) had its price objective hoisted by analysts at Bank of America from $800.00 to $1,000.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the Internet television network’s stock. Bank of America‘s price target indicates a potential upside of 13.14% from the stock’s current price.

NFLX has been the subject of a number of other research reports. UBS Group raised their target price on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a research note on Friday, October 18th. BMO Capital Markets reissued an “outperform” rating and issued a $825.00 price objective (up previously from $770.00) on shares of Netflix in a research report on Friday, October 18th. Pivotal Research upped their target price on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday. Barclays reiterated an “underweight” rating and issued a $550.00 price target on shares of Netflix in a research note on Friday, October 18th. Finally, KeyCorp boosted their price target on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average price target of $764.82.

Netflix Trading Up 1.4 %

NFLX opened at $883.85 on Thursday. 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 has a market cap of $377.81 billion, a price-to-earnings ratio of 50.02, a PEG ratio of 1.68 and a beta of 1.25. Netflix has a 12 month low of $445.73 and a 12 month high of $890.60. The stock has a fifty day moving average price of $747.20 and a 200-day moving average price of $686.80.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, equities research analysts anticipate that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the sale, the chairman now directly owns 85 shares in the company, valued at $57,878.20. The trade was a 99.66 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,866 shares of company stock worth $133,393,921 in the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of institutional investors and hedge funds have recently modified their holdings of NFLX. Denver PWM LLC acquired a new stake in Netflix in the 2nd quarter worth about $25,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix in the third quarter worth approximately $25,000. Proffitt & Goodson Inc. increased 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 worth $32,000 after purchasing an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. raised its stake in Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares during the last quarter. Finally, AlphaMark Advisors LLC lifted its holdings in Netflix by 642.9% in the 2nd 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. 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.