Guggenheim Raises Netflix (NASDAQ:NFLX) Price Target to $1,100.00

Netflix (NASDAQ:NFLX) had its price target raised by Guggenheim from $950.00 to $1,100.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the Internet television network’s stock. Guggenheim’s price target indicates a potential upside of 11.69% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Morgan Stanley upped their target price on Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday. Wedbush restated an “outperform” rating and set a $950.00 target price (up from $800.00) on shares of Netflix in a research report on Monday, November 18th. Robert W. Baird increased their price target on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday. Wolfe Research reissued an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Finally, The Goldman Sachs Group boosted their price target on Netflix from $750.00 to $850.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 8th. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $996.94.

Netflix Stock Up 3.2 %

NFLX stock opened at $984.86 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix has a 52 week low of $537.07 and a 52 week high of $999.00. The stock has a market capitalization of $420.99 billion, a PE ratio of 49.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. The firm has a 50 day moving average of $889.11 and a 200 day moving average of $763.41.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.11 earnings per share. Sell-side analysts forecast that Netflix will post 23.43 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Theodore A. Sarandos sold 1,278 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total value of $980,289.90. Following the transaction, the chief executive officer now directly owns 2,556 shares in the company, valued at approximately $1,960,579.80. This represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,500 shares of company stock valued at $123,309,210. 1.76% of the stock is currently owned by insiders.

Institutional Trading of Netflix

A number of hedge funds have recently added to or reduced their stakes in the stock. Custom Index Systems LLC raised its stake in shares of Netflix by 3.7% during the fourth quarter. Custom Index Systems LLC now owns 1,569 shares of the Internet television network’s stock worth $1,398,000 after purchasing an additional 56 shares during the last quarter. Heck Capital Advisors LLC acquired a new position in Netflix in the 4th quarter valued at $446,000. Austin Private Wealth LLC raised its position in Netflix by 16.8% during the 4th quarter. Austin Private Wealth LLC now owns 834 shares of the Internet television network’s stock worth $743,000 after buying an additional 120 shares during the last quarter. Caprock Group LLC lifted its stake in shares of Netflix by 3.9% in the 4th quarter. Caprock Group LLC now owns 17,745 shares of the Internet television network’s stock worth $15,817,000 after acquiring an additional 661 shares during the period. Finally, New Wave Wealth Advisors LLC boosted its holdings in shares of Netflix by 5.7% in the fourth quarter. New Wave Wealth Advisors LLC now owns 1,754 shares of the Internet television network’s stock valued at $1,563,000 after acquiring an additional 95 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Company Profile

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.