Morgan Stanley Boosts Netflix (NASDAQ:NFLX) Price Target to $780.00

Netflix (NASDAQ:NFLX) had its price target increased by equities research analysts at Morgan Stanley from $700.00 to $780.00 in a research report issued on Monday, Benzinga reports. The firm currently has an “overweight” rating on the Internet television network’s stock. Morgan Stanley’s price target indicates a potential upside of 18.84% from the company’s previous close.

NFLX has been the subject of several other research reports. Jefferies Financial Group restated a “buy” rating and issued a $655.00 price target on shares of Netflix in a research report on Wednesday, May 15th. Loop Capital upped their price target on shares of Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Tuesday, June 18th. Sanford C. Bernstein upped their price target on shares of Netflix from $490.00 to $600.00 and gave the company a “market perform” rating in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Netflix from $525.00 to $550.00 and gave the company a “hold” rating in a research report on Monday, April 15th. Finally, Macquarie increased their target price on shares of Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $652.14.

Netflix Stock Down 0.0 %

NFLX stock opened at $656.32 on Monday. Netflix has a 12 month low of $344.73 and a 12 month high of $697.49. The firm has a market cap of $282.87 billion, a PE ratio of 45.55, a P/E/G ratio of 1.40 and a beta of 1.27. The firm has a 50 day simple moving average of $653.90 and a 200 day simple moving average of $600.80. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the prior year, the business earned $2.88 earnings per share. Equities research analysts forecast that Netflix will post 18.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total transaction of $354,480.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider David A. Hyman sold 268 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $18,764,328.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction dated 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. Insiders sold a total of 71,385 shares of company stock valued at $44,469,351 in the last ninety days. Company insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several institutional investors have recently added to or reduced their stakes in the company. Obermeyer Wood Investment Counsel Lllp lifted its holdings in Netflix by 2.8% during the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock valued at $378,000 after purchasing an additional 17 shares during the last quarter. Private Portfolio Partners LLC lifted its holdings in Netflix by 1.7% during the 1st quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock valued at $633,000 after purchasing an additional 17 shares during the last quarter. KFA Private Wealth Group LLC lifted its holdings in Netflix by 1.9% during the 4th quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after purchasing an additional 18 shares during the last quarter. Legacy Capital Group California Inc. lifted its holdings in Netflix by 0.6% during the 4th quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after purchasing an additional 18 shares during the last quarter. Finally, Founders Financial Alliance LLC increased its position in Netflix by 2.4% in the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after acquiring an additional 18 shares in 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.