Morgan Stanley Increases Netflix (NASDAQ:NFLX) Price Target to $830.00

Netflix (NASDAQ:NFLX) had its target price hoisted by investment analysts at Morgan Stanley from $820.00 to $830.00 in a note issued to investors on Friday, MarketBeat.com reports. The firm currently has an “overweight” rating on the Internet television network’s stock. Morgan Stanley’s price target points to a potential upside of 8.65% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Bank of America raised their target price on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Evercore ISI raised their price objective on Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research report on Tuesday, August 27th. Sanford C. Bernstein upped their target price on Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research report on Friday, July 19th. Argus raised their target price on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a report on Tuesday, July 2nd. Finally, Rosenblatt Securities upped their price target on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $747.70.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $763.89 on Friday. The business has a 50-day moving average of $696.38 and a two-hundred day moving average of $654.94. The firm has a market capitalization of $329.24 billion, a PE ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. Netflix has a 12 month low of $392.26 and a 12 month high of $766.28.

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

Insider Buying and Selling at Netflix

In other news, Director Leslie J. Kilgore sold 383 shares of the company’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 transaction, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the transaction, the director now directly owns 35,262 shares in the company, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 value of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 225,167 shares of company stock worth $150,492,460. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Denver PWM LLC bought a new stake in shares of Netflix during the 2nd quarter worth about $25,000. Valued Wealth Advisors LLC boosted its holdings in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares in the last quarter. Indiana Trust & Investment Management CO increased its stake in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 28 shares during the period. Proffitt & Goodson Inc. raised its holdings in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares in the last quarter. Finally, AlphaMark Advisors LLC lifted its position in Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the period. 80.93% of the stock is currently 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.