Oppenheimer Raises Netflix (NASDAQ:NFLX) Price Target to $1,065.00

Netflix (NASDAQ:NFLX) had its target price boosted by Oppenheimer from $825.00 to $1,065.00 in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage currently has an “outperform” rating on the Internet television network’s stock. Oppenheimer’s price objective would suggest a potential upside of 15.87% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Barclays restated an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a research note on Friday, October 18th. StockNews.com cut Netflix from a “buy” rating to a “hold” rating in a report on Friday, December 13th. Pivotal Research upped their price objective on shares of Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Wells Fargo & Company raised their price objective on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Netflix from $850.00 to $1,010.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have assigned 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 $801.18.

Netflix Price Performance

NASDAQ NFLX opened at $919.13 on Monday. Netflix has a 52-week low of $461.86 and a 52-week high of $941.75. The firm’s 50 day moving average price is $822.35 and its 200-day moving average price is $724.17. The company has a market cap of $392.89 billion, a PE ratio of 52.02, a P/E/G ratio of 1.80 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. Sell-side analysts forecast that Netflix will post 19.78 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 165,405 shares of company stock valued at $129,623,487. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its holdings in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after buying an additional 642,920 shares in the last quarter. State Street Corp increased its holdings in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Jennison Associates LLC lifted its stake in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Netflix in the third quarter worth approximately $222,871,000. Institutional investors and hedge funds 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.