Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Netflix (NASDAQ:NFLX) had its price target lifted by equities research analysts at The Goldman Sachs Group from $750.00 to $850.00 in a research report issued to clients and investors on Wednesday, Marketbeat reports. The firm presently has a “neutral” rating on the Internet television network’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 2.86% from the stock’s current price.

A number of other research firms also recently commented on NFLX. JPMorgan Chase & Co. increased their target price on Netflix from $850.00 to $1,010.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. KeyCorp lifted their price objective on shares of Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Loop Capital cut shares of Netflix from a “buy” rating to a “hold” rating and increased their target price for the stock from $800.00 to $950.00 in a report on Monday, December 16th. Morgan Stanley lifted their price target on shares of Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, UBS Group increased their price objective on shares of Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and an average target price of $824.30.

Netflix Stock Down 0.5 %

NFLX stock opened at $875.00 on Wednesday. The company has a market capitalization of $374.03 billion, a P/E ratio of 49.52, a PEG ratio of 1.77 and a beta of 1.27. The firm has a 50 day simple moving average of $876.43 and a 200-day simple moving average of $751.52. 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 twelve month low of $472.95 and a twelve month high of $941.75.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping 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 company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. On average, equities research analysts predict that Netflix will post 19.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the sale, the director now directly owns 246 shares of the company’s stock, valued at $216,327.48. This trade represents a 96.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory K. Peters sold 4,186 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $750.00, for a total value of $3,139,500.00. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $9,817,500. This trade represents a 24.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 156,742 shares of company stock worth $131,030,268. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Large investors have recently made changes to their positions in the company. International Assets Investment Management LLC raised its stake in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Netflix by 154.7% during the third 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 raised its position in Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after buying an additional 426,740 shares during the period. Jennison Associates LLC lifted its stake in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP purchased a new position in Netflix during the 3rd quarter valued at about $222,871,000. 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.