Netflix, Inc. (NASDAQ:NFLX) Receives $685.29 Consensus Target Price from Analysts

Shares of Netflix, Inc. (NASDAQ:NFLX) have been assigned a consensus recommendation of “Moderate Buy” from the thirty-six ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $686.03.

A number of equities research analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a report on Monday, July 15th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $635.00 target price on shares of Netflix in a research note on Friday, September 20th. TD Cowen increased their target price on shares of Netflix from $725.00 to $775.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Pivotal Research increased their target price on shares of Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Guggenheim increased their target price on shares of Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th.

Netflix Trading Down 0.6 %

Shares of NFLX opened at $706.80 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix has a 12-month low of $344.73 and a 12-month high of $725.26. The firm has a 50-day moving average price of $675.08 and a 200 day moving average price of $647.16. The firm has a market capitalization of $304.63 billion, a P/E ratio of 49.05, a P/E/G ratio of 1.44 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same quarter in the prior year, the firm posted $3.29 earnings per share. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis. Sell-side analysts forecast that Netflix will post 19.08 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 224,784 shares of company stock valued at $150,212,870. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently modified their holdings of the business. Heartland Bank & Trust Co grew its position in shares of Netflix by 0.9% during the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after acquiring an additional 15 shares during the last quarter. Meritas Wealth Management LLC grew its position in shares of Netflix by 2.9% during the third quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock worth $406,000 after acquiring an additional 16 shares during the last quarter. Obermeyer Wood Investment Counsel Lllp grew its position in shares of Netflix by 2.8% during the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after acquiring an additional 17 shares during the last quarter. Private Portfolio Partners LLC grew its position in shares of Netflix by 1.7% during the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock worth $633,000 after acquiring an additional 17 shares during the last quarter. Finally, FAS Wealth Partners Inc. grew its position in shares of Netflix by 1.5% during the second quarter. FAS Wealth Partners Inc. now owns 1,164 shares of the Internet television network’s stock worth $786,000 after acquiring an additional 17 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other 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.