Netflix (NASDAQ:NFLX) Price Target Raised to $940.00 at Canaccord Genuity Group

Netflix (NASDAQ:NFLX) had its price target hoisted by Canaccord Genuity Group from $760.00 to $940.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the Internet television network’s stock. Canaccord Genuity Group’s price target suggests a potential upside of 6.00% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on NFLX. Benchmark reiterated a “sell” rating and issued a $545.00 price objective on shares of Netflix in a report on Tuesday, October 15th. Morgan Stanley raised their target price on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Barclays reiterated an “underweight” rating and set a $550.00 price target on shares of Netflix in a research report on Friday, October 18th. Loop Capital raised their price objective on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. Finally, Macquarie reaffirmed an “outperform” rating and set a $795.00 target price on shares of Netflix in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $775.58.

Netflix Trading Up 1.1 %

Shares of NFLX stock opened at $886.81 on Monday. Netflix has a 1-year low of $445.73 and a 1-year high of $908.00. The company has a market cap of $379.08 billion, a price-to-earnings ratio of 50.19, a PEG ratio of 1.71 and a beta of 1.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a 50 day simple moving average of $773.01 and a 200-day simple moving average of $700.75.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. On average, equities research analysts expect that Netflix will post 19.78 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Insiders have sold 185,866 shares of company stock valued at $133,393,921 in the last quarter. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Institutional investors have recently modified their holdings of the stock. State Street Corp boosted its stake in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the period. International Assets Investment Management LLC grew its stake in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after buying an additional 23,702 shares during the period. Hedge funds and other institutional investors 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.