Netflix (NASDAQ:NFLX) PT Raised to $767.00

Netflix (NASDAQ:NFLX) had its target price hoisted by analysts at Argus from $660.00 to $767.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the Internet television network’s stock. Argus’ target price points to a potential upside of 14.29% from the company’s current price.

A number of other brokerages also recently weighed in on NFLX. Pivotal Research raised 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. Jefferies Financial Group reissued a “buy” rating and issued a $655.00 price objective on shares of Netflix in a research note on Wednesday, May 15th. Canaccord Genuity Group downgraded Netflix from a “buy” rating to a “hold” rating and cut their price objective for the company from $720.00 to $585.00 in a research note on Friday, April 19th. KeyCorp raised their price objective on Netflix from $705.00 to $707.00 and gave the company an “overweight” rating in a research note on Thursday, June 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price target on shares of Netflix in a research report on Monday, June 17th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average price target of $637.34.

Netflix Stock Down 0.4 %

Shares of NFLX traded down $2.51 during midday trading on Tuesday, reaching $671.10. 141,109 shares of the stock were exchanged, compared to its average volume of 3,947,353. Netflix has a 12-month low of $344.73 and a 12-month high of $689.88. The firm has a 50 day simple moving average of $628.93 and a 200-day simple moving average of $585.07. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a market cap of $289.24 billion, a price-to-earnings ratio of 46.57, a P/E/G ratio of 1.46 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same period last year, the business earned $2.88 EPS. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Research analysts forecast that Netflix will post 18.31 EPS for the current year.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 19,943 shares of the company’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $633.58, for a total value of $12,635,485.94. Following the completion of the sale, the chairman now owns 57 shares in the company, valued at $36,114.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Netflix news, CEO Gregory K. Peters sold 4,783 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,835,750. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 19,943 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $633.58, for a total value of $12,635,485.94. Following the completion of the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at $36,114.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 48,859 shares of company stock worth $29,365,893. 1.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Netflix during the fourth quarter worth about $2,558,598,000. Wellington Management Group LLP boosted its position in shares of Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after buying an additional 3,273,592 shares during the period. GQG Partners LLC acquired a new position in shares of Netflix during the first quarter worth about $1,450,476,000. International Assets Investment Management LLC boosted its position in Netflix by 15,039.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after purchasing an additional 2,061,859 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after purchasing an additional 1,573,978 shares during 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.