Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Netflix (NASDAQ:NFLX) had its price objective increased by investment analysts at The Goldman Sachs Group from $850.00 to $960.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the Internet television network’s stock. The Goldman Sachs Group’s price objective indicates a potential downside of 2.52% from the stock’s current price.

Other research analysts have also issued reports about the stock. Robert W. Baird upped their price objective on shares of Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price target on shares of Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research note on Wednesday. Wells Fargo & Company lifted their price objective on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised their target price on Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $996.94.

Netflix Stock Performance

Netflix stock opened at $984.86 on Wednesday. Netflix has a 1-year low of $537.07 and a 1-year high of $999.00. The firm has a market cap of $420.99 billion, a P/E ratio of 49.67, a P/E/G ratio of 1.41 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average of $889.11 and a 200-day moving average of $763.41.

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

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 146,500 shares of company stock valued at $123,309,210. 1.76% of the stock is owned by company insiders.

Institutional Trading of Netflix

Several hedge funds have recently bought and sold shares of NFLX. State Street Corp lifted its position in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Netflix by 1.4% during the third 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 in the last quarter. Jennison Associates LLC boosted its position in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the period. International Assets Investment Management LLC increased its stake in shares of Netflix by 116,620.0% in the third 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 purchasing an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP raised its position 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 valued at $3,473,571,000 after purchasing an additional 23,702 shares during the period. Institutional investors own 80.93% of the company’s stock.

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.