Netflix (NASDAQ:NFLX) Price Target Raised to $800.00

Netflix (NASDAQ:NFLX) had its target price upped by Needham & Company LLC from $700.00 to $800.00 in a report published on Friday, MarketBeat reports. They currently have a buy rating on the Internet television network’s stock.

Several other equities analysts have also recently commented on NFLX. Guggenheim increased their target price on Netflix from $735.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Wedbush increased their price objective on shares of Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday. Pivotal Research boosted their target price on shares of Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Bank of America upped 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. Finally, Sanford C. Bernstein lifted their price target on Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research note on Friday, July 19th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $747.70.

Netflix Stock Performance

NASDAQ:NFLX opened at $763.89 on Friday. The firm has a 50-day moving average of $696.38 and a two-hundred day moving average of $655.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market cap of $329.24 billion, a P/E ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26. Netflix has a 1-year low of $392.26 and a 1-year high of $766.28.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS 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 during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the prior year, the business posted $3.29 earnings per share. Netflix’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, research analysts expect that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 85 shares of the company’s stock, valued at approximately $60,023.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Reed Hastings sold 45,290 shares of the 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 transaction, the chairman now directly owns 85 shares in the company, valued at $60,023.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,043,019.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 225,167 shares of company stock valued at $150,492,460 over the last 90 days. 1.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of NFLX. RFG Advisory LLC lifted its holdings in Netflix by 24.7% in the 1st quarter. RFG Advisory LLC now owns 2,292 shares of the Internet television network’s stock valued at $1,392,000 after acquiring an additional 454 shares during the last quarter. Meyer Handelman Co. raised its holdings in shares of Netflix by 0.8% in the 1st quarter. Meyer Handelman Co. now owns 3,358 shares of the Internet television network’s stock worth $2,039,000 after purchasing an additional 25 shares in the last quarter. Congress Asset Management Co. MA lifted its stake in Netflix by 6.6% during the first quarter. Congress Asset Management Co. MA now owns 18,885 shares of the Internet television network’s stock valued at $11,469,000 after purchasing an additional 1,174 shares during the last quarter. MJP Associates Inc. ADV bought a new stake in Netflix during the first quarter worth approximately $360,000. Finally, &PARTNERS grew its position in Netflix by 158.2% in the first quarter. &PARTNERS now owns 1,379 shares of the Internet television network’s stock worth $838,000 after buying an additional 845 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

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.