Netflix (NASDAQ:NFLX) Price Target Raised to $1,175.00

Netflix (NASDAQ:NFLX) had its target price upped by stock analysts at Bank of America from $1,000.00 to $1,175.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the Internet television network’s stock. Bank of America‘s price objective suggests a potential upside of 35.11% from the company’s current price.

Other research analysts have also issued research reports about the company. Jefferies Financial Group raised their price objective on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. UBS Group upped their price objective on shares of Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Macquarie raised their target price on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday. Citigroup upped their price target on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Finally, Wolfe Research reissued an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $952.30.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $869.68 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $371.75 billion, a PE ratio of 49.22, a PEG ratio of 1.40 and a beta of 1.27. Netflix has a one year low of $479.90 and a one year high of $941.75. The firm has a fifty day moving average of $885.64 and a 200 day moving average of $760.81.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results 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. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. During the same period last year, the company posted $2.11 EPS. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, research analysts predict that Netflix will post 19.76 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Director Richard N. Barton sold 5,698 shares of Netflix stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the completion of the sale, the director now directly owns 246 shares of the company’s stock, valued at $185,976. The trade was a 95.86 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Theodore A. Sarandos sold 1,278 shares of the company’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 of the company’s stock, valued at approximately $1,960,579.80. This represents a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 152,198 shares of company stock valued at $127,616,898 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Several large investors have recently bought and sold shares of NFLX. State Street Corp lifted its holdings in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Geode Capital Management LLC increased its position in Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares during the period. Jennison Associates LLC lifted its stake in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after acquiring an additional 23,702 shares during the last quarter. Institutional investors and hedge funds 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.