Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Netflix (NASDAQ:NFLX) had its price objective hoisted by Canaccord Genuity Group from $760.00 to $940.00 in a research note released on Monday,Benzinga reports. Canaccord Genuity Group currently has a hold rating on the Internet television network’s stock.

A number of other equities research analysts also recently commented on NFLX. BMO Capital Markets reiterated an “outperform” rating and issued a $825.00 price objective (up previously from $770.00) on shares of Netflix in a report on Friday, October 18th. Guggenheim upped their price target on Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Jefferies Financial Group lifted their price objective on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Morgan Stanley upped their target price on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Finally, Wolfe Research reissued an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $775.58.

Netflix Stock Performance

Netflix stock opened at $897.74 on Monday. The company has a market cap of $383.75 billion, a PE ratio of 50.81, a PEG ratio of 1.71 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix has a 1 year low of $445.73 and a 1 year high of $908.00. The company’s 50-day moving average is $773.01 and its two-hundred day moving average is $700.75.

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

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction that occurred on 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. Insiders sold a total of 160,792 shares of company stock worth $116,320,533 over the last ninety days. 1.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Netflix

Hedge funds have recently added to or reduced their stakes in the business. American Trust acquired a new stake in Netflix during the third quarter worth approximately $323,000. Old North State Trust LLC grew its position in shares of Netflix by 3.2% in the third quarter. Old North State Trust LLC now owns 699 shares of the Internet television network’s stock valued at $496,000 after purchasing an additional 22 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Netflix by 11.5% during the third quarter. Franklin Resources Inc. now owns 1,236,539 shares of the Internet television network’s stock worth $881,652,000 after purchasing an additional 127,541 shares during the period. Synovus Financial Corp lifted its holdings in Netflix by 43.9% during the 3rd quarter. Synovus Financial Corp now owns 12,667 shares of the Internet television network’s stock worth $8,984,000 after purchasing an additional 3,864 shares during the last quarter. Finally, Destination Wealth Management boosted its stake in Netflix by 7.5% in the 3rd quarter. Destination Wealth Management now owns 1,083 shares of the Internet television network’s stock valued at $768,000 after purchasing an additional 76 shares during the period. 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.