Netflix (NASDAQ:NFLX) Price Target Raised to $760.00 at Redburn Atlantic

Netflix (NASDAQ:NFLX) had its price objective hoisted by analysts at Redburn Atlantic from $740.00 to $760.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the Internet television network’s stock. Redburn Atlantic’s target price indicates a potential upside of 17.63% from the company’s current price.

Other analysts have also issued reports about the company. Macquarie reaffirmed an “outperform” rating and issued a $685.00 price target on shares of Netflix in a research note on Tuesday. Canaccord Genuity Group lowered Netflix from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $720.00 to $585.00 in a research note on Friday, April 19th. Loop Capital boosted their price objective on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Citigroup boosted their price objective on Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a research note on Monday, March 25th. Finally, Needham & Company LLC reissued a “buy” rating and set a $700.00 price objective on shares of Netflix in a research note on Friday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $659.86.

Netflix Price Performance

NFLX traded up $3.03 during trading on Friday, hitting $646.07. The company’s stock had a trading volume of 2,927,773 shares, compared to its average volume of 3,907,021. The firm has a market capitalization of $278.46 billion, a price-to-earnings ratio of 44.83, a P/E/G ratio of 1.40 and a beta of 1.27. The business’s fifty day simple moving average is $655.28 and its 200 day simple moving average is $601.42. Netflix has a twelve month low of $344.73 and a twelve month high of $697.49. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.29 earnings per share. On average, equities research analysts forecast that Netflix will post 18.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Anne M. Sweeney sold 633 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Anne M. Sweeney sold 633 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.81, for a total value of $758,889.18. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $7,772,972.90. The disclosure for this sale can be found here. Insiders have sold a total of 71,385 shares of company stock worth $44,469,351 in the last quarter. 1.76% of the stock is owned by company insiders.

Institutional Trading of Netflix

A number of large investors have recently made changes to their positions in NFLX. FORVIS Wealth Advisors LLC acquired a new stake in shares of Netflix in the 4th quarter valued at about $216,000. Brookstone Capital Management boosted its position in shares of Netflix by 4.8% in the 4th quarter. Brookstone Capital Management now owns 6,825 shares of the Internet television network’s stock valued at $3,323,000 after purchasing an additional 311 shares during the period. Cyndeo Wealth Partners LLC boosted its position in shares of Netflix by 12.1% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 1,124 shares of the Internet television network’s stock valued at $547,000 after purchasing an additional 121 shares during the period. Fortitude Family Office LLC acquired a new stake in shares of Netflix in the 4th quarter valued at about $57,000. Finally, Advisor Resource Council acquired a new stake in shares of Netflix in the 4th quarter valued at about $1,156,000. 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.