Netflix (NASDAQ:NFLX) Price Target Raised to $1,150.00 at Oppenheimer

Netflix (NASDAQ:NFLX) had its price objective increased by Oppenheimer from $1,040.00 to $1,150.00 in a research report report published on Wednesday, MarketBeat Ratings reports. Oppenheimer currently has an outperform rating on the Internet television network’s stock.

NFLX has been the subject of a number of other research reports. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Jefferies Financial Group increased their target price on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Pivotal Research increased their price objective on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Wednesday. KeyCorp raised their target price on Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Wells Fargo & Company upped their price objective on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $1,009.29.

Netflix Stock Performance

NASDAQ:NFLX opened at $977.59 on Wednesday. Netflix has a 1-year low of $542.01 and a 1-year high of $999.00. The company has a market capitalization of $417.88 billion, a price-to-earnings ratio of 49.30, a PEG ratio of 1.53 and a beta of 1.27. The business has a 50 day moving average of $892.06 and a 200 day moving average of $764.95. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The business 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 38.32%. The company’s revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the firm earned $2.11 EPS. On average, sell-side analysts predict that Netflix will post 23.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay C. Hoag sold 617 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,117 shares of company stock worth $123,913,691. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Epoch Investment Partners Inc. boosted its position in shares of Netflix by 27.1% during the second quarter. Epoch Investment Partners Inc. now owns 544 shares of the Internet television network’s stock worth $367,000 after buying an additional 116 shares during the period. Mill Creek Capital Advisors LLC grew its stake in shares of Netflix by 24.8% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 433 shares of the Internet television network’s stock worth $292,000 after purchasing an additional 86 shares during the last quarter. Clear Point Advisors Inc. increased its holdings in shares of Netflix by 3.9% in the second quarter. Clear Point Advisors Inc. now owns 449 shares of the Internet television network’s stock valued at $303,000 after buying an additional 17 shares in the last quarter. Insigneo Advisory Services LLC lifted its holdings in shares of Netflix by 10.6% during the second quarter. Insigneo Advisory Services LLC now owns 8,230 shares of the Internet television network’s stock valued at $5,554,000 after purchasing an additional 786 shares during the last quarter. Finally, Fred Alger Management LLC boosted its holdings in shares of Netflix by 4.7% in the second quarter. Fred Alger Management LLC now owns 465,249 shares of the Internet television network’s stock worth $313,987,000 after buying an additional 20,962 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.