Netflix (NASDAQ:NFLX) Price Target Raised to $1,100.00

Netflix (NASDAQ:NFLX) had its target price upped by stock analysts at Guggenheim from $950.00 to $1,100.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the Internet television network’s stock. Guggenheim’s target price indicates a potential upside of 11.69% from the stock’s previous close.

Other research analysts have also recently issued research reports about the company. The Goldman Sachs Group raised their price target on Netflix from $750.00 to $850.00 and gave the company a “neutral” rating in a research report on Wednesday, January 8th. Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Needham & Company LLC increased their price target on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Wolfe Research reiterated an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $996.94.

Netflix Stock Performance

NASDAQ:NFLX opened at $984.86 on Wednesday. The firm’s fifty day simple moving average is $889.11 and its 200-day simple moving average is $763.41. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market cap of $420.99 billion, a PE ratio of 49.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. Netflix has a fifty-two week low of $537.07 and a fifty-two week high of $999.00.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period last year, the company posted $2.11 earnings per share. Analysts expect that Netflix will post 23.43 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Reed Hastings sold 41,601 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the completion of the transaction, the chairman now owns 85 shares of the company’s stock, valued at $64,435.10. This trade represents a 99.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 146,500 shares of company stock worth $123,309,210. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Epoch Investment Partners Inc. grew its position in shares of Netflix by 27.1% during the second quarter. Epoch Investment Partners Inc. now owns 544 shares of the Internet television network’s stock worth $367,000 after buying an additional 116 shares in the last quarter. Mill Creek Capital Advisors LLC grew its holdings in Netflix by 24.8% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 433 shares of the Internet television network’s stock worth $292,000 after acquiring an additional 86 shares in the last quarter. Clear Point Advisors Inc. increased its position in shares of Netflix by 3.9% in the 2nd quarter. Clear Point Advisors Inc. now owns 449 shares of the Internet television network’s stock worth $303,000 after purchasing an additional 17 shares during the last quarter. Insigneo Advisory Services LLC raised its stake in shares of Netflix by 10.6% in the 2nd quarter. Insigneo Advisory Services LLC now owns 8,230 shares of the Internet television network’s stock valued at $5,554,000 after purchasing an additional 786 shares in the last quarter. Finally, Fred Alger Management LLC lifted its position in shares of Netflix by 4.7% during the second quarter. Fred Alger Management LLC now owns 465,249 shares of the Internet television network’s stock worth $313,987,000 after purchasing an additional 20,962 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.