Netflix (NASDAQ:NFLX) Price Target Raised to $1,010.00

Netflix (NASDAQ:NFLX) had its target price lifted by JPMorgan Chase & Co. from $850.00 to $1,010.00 in a research note published on Wednesday morning, MarketBeat reports. JPMorgan Chase & Co. currently has an overweight rating on the Internet television network’s stock.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Loop Capital upped their price objective on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Guggenheim lifted their target price on Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Canaccord Genuity Group boosted their target price on Netflix from $760.00 to $940.00 and gave the stock a “hold” rating in a research note on Monday, December 2nd. Finally, TD Cowen increased their price target on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $787.85.

Netflix Price Performance

Shares of NFLX opened at $918.87 on Wednesday. The firm has a 50-day simple moving average of $814.02 and a two-hundred day simple moving average of $719.34. The stock has a market cap of $392.78 billion, a PE ratio of 52.00, a P/E/G ratio of 1.80 and a beta of 1.27. Netflix has a 1-year low of $461.86 and a 1-year high of $941.75. 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 (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share 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, analysts forecast that Netflix will post 19.78 EPS for the current year.

Insider Transactions at Netflix

In related news, Director Leslie J. Kilgore sold 428 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $715.00, for a total value of $306,020.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Timothy M. Haley sold 11,090 shares of the company’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 disclosure for this sale can be found here. Insiders sold 165,405 shares of company stock worth $129,623,487 over the last 90 days. 1.76% of the stock is currently owned by insiders.

Institutional Trading of Netflix

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