Loop Capital Increases Netflix (NASDAQ:NFLX) Price Target to $750.00

Netflix (NASDAQ:NFLX) had its price target lifted by equities researchers at Loop Capital from $700.00 to $750.00 in a research report issued on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the Internet television network’s stock. Loop Capital’s target price suggests a potential upside of 9.38% from the company’s current price.

Other analysts have also issued research reports about the company. Pivotal Research upped their price objective on Netflix from $765.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $700.00 price target on shares of Netflix in a report on Monday. Rosenblatt Securities lifted their price objective on shares of Netflix from $540.00 to $554.00 and gave the stock a “neutral” rating in a research report on Friday, May 17th. Canaccord Genuity Group restated a “hold” rating and set a $585.00 target price (down previously from $720.00) on shares of Netflix in a research note on Friday, April 19th. Finally, CICC Research began coverage on shares of Netflix in a research note on Thursday, May 2nd. They issued an “outperform” rating and a $650.00 price target on the stock. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average target price of $633.53.

Netflix Price Performance

NASDAQ:NFLX opened at $685.67 on Tuesday. The stock has a market capitalization of $295.52 billion, a PE ratio of 47.58, a P/E/G ratio of 1.46 and a beta of 1.26. Netflix has a 1-year low of $344.73 and a 1-year high of $687.06. The firm has a fifty day simple moving average of $619.18 and a 200 day simple moving average of $573.44. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.88 earnings per share. On average, research analysts expect that Netflix will post 18.31 EPS for the current fiscal year.

Insider Activity at Netflix

In related news, Director Anne M. Sweeney sold 633 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total value of $354,480.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Anne M. Sweeney sold 633 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total transaction of $354,480.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 268 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $18,764,328.20. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,425 shares of company stock valued at $41,919,791. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

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