Netflix (NASDAQ:NFLX) Price Target Increased to $835.00 by Analysts at TD Cowen

Netflix (NASDAQ:NFLX) had its price target lifted by equities researchers at TD Cowen from $820.00 to $835.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the Internet television network’s stock. TD Cowen’s price objective would indicate a potential upside of 9.31% from the stock’s current price.

Several other research firms have also commented on NFLX. Barclays reaffirmed an “underweight” rating and set a $550.00 price objective on shares of Netflix in a research note on Monday, October 7th. Evercore ISI upped their price target on shares of Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a report on Tuesday, August 27th. Benchmark restated a “sell” rating and set a $545.00 target price on shares of Netflix in a research report on Tuesday, October 15th. Needham & Company LLC increased their price target on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Friday. Finally, Guggenheim boosted their price objective on Netflix from $735.00 to $810.00 and gave the company a “buy” rating in a report on Friday, October 11th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $747.70.

Netflix Stock Up 11.1 %

Shares of NASDAQ NFLX opened at $763.89 on Friday. The stock has a market capitalization of $329.24 billion, a price-to-earnings ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26. Netflix has a 12-month low of $392.26 and a 12-month high of $766.28. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm’s 50-day moving average price is $696.38 and its 200-day moving average price is $654.94.

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

Insider Activity at Netflix

In other news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction dated 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 owns 31,610 shares in the company, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were 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 of the company’s stock, valued at $19,128,159.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the sale, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $35,991.51. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,167 shares of company stock valued at $150,492,460 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently modified their holdings of the stock. Denver PWM LLC acquired a new position in shares of Netflix in the 2nd quarter valued at $25,000. Valued Wealth Advisors LLC raised its stake in shares of Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after buying an additional 20 shares during the period. Indiana Trust & Investment Management CO increased its holdings in Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 28 shares in the last quarter. Proffitt & Goodson Inc. raised its position 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 acquiring an additional 38 shares during the period. Finally, AlphaMark Advisors LLC grew its position in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.