Netflix (NASDAQ:NFLX) Price Target Raised to $820.00

Netflix (NASDAQ:NFLX) had its target price lifted by Morgan Stanley from $780.00 to $820.00 in a research report released on Thursday morning, MarketBeat Ratings reports. They currently have an overweight rating on the Internet television network’s stock.

Several other analysts also recently commented on the stock. Argus raised their price objective on shares of Netflix from $660.00 to $767.00 and gave the company a buy rating in a research report on Tuesday, July 2nd. TD Cowen boosted their price objective on Netflix from $775.00 to $820.00 and gave the company a buy rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft upped their price objective on Netflix from $590.00 to $650.00 and gave the stock a hold rating in a research note on Wednesday, October 9th. Barclays reissued an underweight rating and set a $550.00 target price on shares of Netflix in a research note on Monday, October 7th. Finally, Pivotal Research upped their price target on Netflix from $800.00 to $900.00 and gave the stock a buy rating in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $702.79.

Netflix Price Performance

NASDAQ NFLX opened at $722.79 on Thursday. The business’s fifty day moving average is $686.60 and its 200 day moving average is $651.60. Netflix has a fifty-two week low of $344.73 and a fifty-two week high of $736.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $311.52 billion, a PE ratio of 50.16, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

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

Insider Activity at Netflix

In related news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the sale, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,167 shares of company stock valued at $150,492,460. 1.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently modified their holdings of NFLX. DigitalBridge Group Inc. boosted its position in shares of Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after buying an additional 9,451 shares during the period. M&G Plc purchased a new stake in shares of Netflix during the first quarter valued at approximately $9,682,000. BSN CAPITAL PARTNERS Ltd boosted its stake in shares of Netflix by 24.4% in the first quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after purchasing an additional 49,000 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Netflix by 58.2% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after purchasing an additional 30,511 shares in the last quarter. Finally, Scarborough Advisors LLC purchased a new stake in Netflix during the 4th quarter worth $9,513,000. 80.93% of the stock is owned by institutional investors and hedge funds.

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.