Netflix (NASDAQ:NFLX) Price Target Increased to $675.00 by Analysts at Citigroup

Netflix (NASDAQ:NFLX) had its target price increased by Citigroup from $660.00 to $675.00 in a research note issued to investors on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the Internet television network’s stock.

Several other brokerages have also recently commented on NFLX. Canaccord Genuity Group cut shares of Netflix from a buy rating to a hold rating and cut their price target for the stock from $720.00 to $585.00 in a research report on Friday, April 19th. Evercore ISI boosted their price target on shares of Netflix from $700.00 to $710.00 and gave the stock an outperform rating in a research report on Friday, July 19th. JPMorgan Chase & Co. boosted their price target on shares of Netflix from $650.00 to $750.00 and gave the stock an overweight rating in a research report on Friday, July 12th. BMO Capital Markets reissued an outperform rating and set a $713.00 price target (up from $638.00) on shares of Netflix in a research report on Wednesday, April 17th. Finally, Guggenheim boosted their price target on shares of Netflix from $700.00 to $735.00 and gave the stock a buy rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix presently has an average rating of Moderate Buy and a consensus target price of $681.21.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $634.09 on Monday. The firm has a market cap of $272.13 billion, a PE ratio of 44.00, a PEG ratio of 1.32 and a beta of 1.27. The company has a current ratio of 0.95, a quick ratio of 1.07 and a debt-to-equity ratio of 0.55. Netflix has a 1-year low of $344.73 and a 1-year high of $697.49. The company has a fifty day moving average price of $657.85 and a 200 day moving average price of $607.11.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.29 EPS. Research analysts predict that Netflix will post 19.09 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at $15,443.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at $15,443.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total transaction of $354,480.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 71,385 shares of company stock valued at $44,469,351. 1.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NFLX. Valued Wealth Advisors LLC increased its stake in Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares during the last quarter. VitalStone Financial LLC increased its stake in Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares during the last quarter. Beaird Harris Wealth Management LLC increased its stake in Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 62 shares during the last quarter. Scarborough Advisors LLC bought a new position in Netflix in the fourth quarter valued at approximately $32,000. Finally, Indiana Trust & Investment Management CO increased its stake in Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 28 shares during the last quarter. 80.93% of the stock is owned by 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.