Stifel Nicolaus Boosts Netflix (NASDAQ:NFLX) Price Target to $650.00

Netflix (NASDAQ:NFLX) had its price target hoisted by Stifel Nicolaus from $580.00 to $650.00 in a report published on Wednesday, The Fly reports. The brokerage currently has a buy rating on the Internet television network’s stock.

NFLX has been the subject of a number of other research reports. The Goldman Sachs Group initiated coverage on Netflix in a report on Monday, September 13th. They issued a neutral rating and a $590.00 price target for the company. Barclays set a $625.00 target price on Netflix in a report on Wednesday, September 8th. Morgan Stanley reissued a buy rating and set a $650.00 target price on shares of Netflix in a report on Friday, July 16th. Wedbush reissued an underperform rating and set a $342.00 target price on shares of Netflix in a report on Wednesday, July 21st. Finally, JPMorgan Chase & Co. increased their target price on Netflix from $625.00 to $705.00 and gave the company an overweight rating in a report on Wednesday, September 8th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Buy and a consensus price target of $618.63.

NASDAQ NFLX opened at $592.39 on Wednesday. The stock has a market capitalization of $262.19 billion, a price-to-earnings ratio of 61.39, a PEG ratio of 1.88 and a beta of 0.76. Netflix has a twelve month low of $463.41 and a twelve month high of $615.60. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.08. The stock has a 50-day moving average of $550.27 and a 200 day moving average of $527.79.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Monday, July 19th. The Internet television network reported $2.97 earnings per share for the quarter, missing analysts’ consensus estimates of $3.16 by ($0.19). The business had revenue of $7.34 billion during the quarter, compared to analyst estimates of $7.32 billion. Netflix had a return on equity of 36.49% and a net margin of 15.92%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.59 EPS. Equities analysts predict that Netflix will post 10.38 EPS for the current fiscal year.

In other news, Director Jay C. Hoag sold 939 shares of the stock in a transaction on Tuesday, August 3rd. The stock was sold at an average price of $510.16, for a total value of $479,040.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Gregory K. Peters sold 6,941 shares of the stock in a transaction on Tuesday, September 7th. The shares were sold at an average price of $600.00, for a total value of $4,164,600.00. Following the completion of the sale, the chief operating officer now owns 20,031 shares in the company, valued at $12,018,600. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,649 shares of company stock valued at $9,729,194. Company insiders own 3.40% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in NFLX. Polen Capital Management LLC acquired a new stake in Netflix in the first quarter valued at $1,224,241,000. Capital International Investors raised its stake in Netflix by 13.7% in the second quarter. Capital International Investors now owns 19,206,004 shares of the Internet television network’s stock valued at $10,144,956,000 after buying an additional 2,319,459 shares in the last quarter. Magellan Asset Management Ltd raised its stake in Netflix by 16.5% in the second quarter. Magellan Asset Management Ltd now owns 6,008,063 shares of the Internet television network’s stock valued at $3,173,519,000 after buying an additional 850,245 shares in the last quarter. Edgewood Management LLC raised its stake in Netflix by 27.2% in the first quarter. Edgewood Management LLC now owns 3,827,433 shares of the Internet television network’s stock valued at $1,996,619,000 after buying an additional 817,857 shares in the last quarter. Finally, Viking Global Investors LP acquired a new stake in shares of Netflix during the first quarter worth about $391,275,000. Institutional investors and hedge funds own 79.51% of the company’s stock.

About Netflix

Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.

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