Netflix (NASDAQ:NFLX) Price Target Raised to $1,175.00

Netflix (NASDAQ:NFLX) had its price target boosted by Bank of America from $1,000.00 to $1,175.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a buy rating on the Internet television network’s stock.

A number of other equities research analysts also recently issued reports on NFLX. Wedbush restated an “outperform” rating and set a $950.00 price objective (up from $800.00) on shares of Netflix in a research report on Monday, November 18th. Robert W. Baird upped their price objective on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Wednesday. Pivotal Research upped their price objective on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Citigroup upped their price objective on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Finally, Wolfe Research restated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average price target of $1,009.29.

Netflix Price Performance

NASDAQ:NFLX opened at $977.59 on Wednesday. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $417.88 billion, a P/E ratio of 49.30, a P/E/G ratio of 1.53 and a beta of 1.27. Netflix has a 12 month low of $542.01 and a 12 month high of $999.00. The business’s 50-day moving average is $892.06 and its 200 day moving average is $764.95.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.11 earnings per share. On average, equities research analysts forecast that Netflix will post 23.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chairman now owns 114 shares in the company, valued at $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,117 shares of company stock worth $123,913,691 in the last three months. 1.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Netflix

Large investors have recently made changes to their positions in the business. DigitalBridge Group Inc. boosted its position in shares of Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares in the last quarter. Nordea Investment Management AB raised its stake in Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after buying an additional 156,958 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Netflix by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after acquiring an additional 29,726 shares in the last quarter. Natixis Advisors LLC grew its stake in shares of Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after acquiring an additional 11,921 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in shares of Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after acquiring an additional 1,684 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.