KeyCorp Boosts Netflix (NASDAQ:NFLX) Price Target to $785.00

Netflix (NASDAQ:NFLX) had its price target raised by equities research analysts at KeyCorp from $760.00 to $785.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the Internet television network’s stock. KeyCorp’s price target points to a potential upside of 14.16% from the stock’s previous close.

Several other brokerages have also recently weighed in on NFLX. Macquarie reaffirmed an “outperform” rating and issued a $795.00 price objective on shares of Netflix in a report on Friday. Deutsche Bank Aktiengesellschaft lifted their price objective on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a report on Wednesday, October 9th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Barclays reiterated an “underweight” rating and issued a $550.00 price target on shares of Netflix in a research note on Monday, October 7th. Finally, Morgan Stanley lifted their price target on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $713.24.

Netflix Stock Performance

NASDAQ:NFLX opened at $687.65 on Friday. The stock has a market cap of $296.38 billion, a P/E ratio of 47.72, a PEG ratio of 1.49 and a beta of 1.26. The stock has a 50 day simple moving average of $693.78 and a 200 day simple moving average of $653.62. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix has a 1-year low of $344.73 and a 1-year high of $736.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.29 EPS. Research analysts anticipate that Netflix will post 19.08 earnings per share for the current year.

Insider Activity

In other news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,043,019.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,043,019.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 225,167 shares of company stock valued at $150,492,460 in the last ninety days. 1.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in NFLX. GQG Partners LLC acquired a new position in Netflix during the 1st quarter worth approximately $1,450,476,000. Jennison Associates LLC increased its holdings in Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares in the last quarter. Global Assets Advisory LLC bought a new stake in Netflix during the 1st quarter worth approximately $436,514,000. Jericho Capital Asset Management L.P. bought a new stake in Netflix during the 1st quarter worth approximately $372,293,000. Finally, Swedbank AB bought a new stake in Netflix during the 1st quarter worth approximately $216,538,000. 80.93% of the stock is owned by institutional investors and hedge funds.

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.