Argus Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its target price raised by Argus from $840.00 to $1,040.00 in a research report sent to investors on Monday morning, Marketbeat Ratings reports. Argus currently has a buy rating on the Internet television network’s stock.

A number of other research analysts have also recently issued reports on NFLX. BMO Capital Markets reissued an “outperform” rating and issued a $825.00 target price (up from $770.00) on shares of Netflix in a research note on Friday, October 18th. JPMorgan Chase & Co. increased their target price on Netflix from $850.00 to $1,010.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 11th. Pivotal Research lifted their price target on shares of Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Morgan Stanley upped their price target on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Macquarie restated an “outperform” rating and set a $795.00 price objective on shares of Netflix in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $824.30.

Netflix Stock Performance

Shares of NFLX stock opened at $875.00 on Monday. The stock has a market cap of $374.03 billion, a PE ratio of 49.52, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The stock has a 50-day moving average of $874.05 and a 200-day moving average of $750.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix has a one year low of $472.95 and a one year high of $941.75.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating the consensus estimate of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, sell-side analysts expect that Netflix will post 19.78 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, Director Leslie J. Kilgore sold 358 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at $26,975,430. This represents a 1.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 156,742 shares of company stock worth $131,030,268 over the last ninety days. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently bought and sold shares of the business. Strategic Financial Concepts LLC increased its stake in Netflix by 58,624.5% during the 2nd quarter. Strategic Financial Concepts LLC now owns 213,757 shares of the Internet television network’s stock worth $1,443,000 after acquiring an additional 213,393 shares during the period. Acadian Asset Management LLC raised its stake in Netflix by 142.3% in the second quarter. Acadian Asset Management LLC now owns 55,345 shares of the Internet television network’s stock valued at $37,346,000 after purchasing an additional 32,505 shares in the last quarter. Stonekeep Investments LLC bought a new stake in Netflix during the second quarter worth about $585,000. NRI Wealth Management LC acquired a new stake in Netflix during the second quarter worth about $2,320,000. Finally, Fox Hill Wealth Management grew its stake in Netflix by 32.6% during the second quarter. Fox Hill Wealth Management now owns 5,493 shares of the Internet television network’s stock worth $3,707,000 after buying an additional 1,350 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

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.