The Goldman Sachs Group Boosts Netflix (NASDAQ:NFLX) Price Target to $659.00

Netflix (NASDAQ:NFLX) had its price objective boosted by The Goldman Sachs Group from $650.00 to $659.00 in a research note issued to investors on Friday morning, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the Internet television network’s stock.

Other analysts also recently issued research reports about the stock. Macquarie reissued an outperform rating and set a $685.00 target price on shares of Netflix in a research report on Tuesday, July 16th. Sanford C. Bernstein raised their target price on shares of Netflix from $600.00 to $625.00 and gave the company a market perform rating in a research note on Friday. TD Cowen upped their price target on shares of Netflix from $725.00 to $775.00 and gave the stock a buy rating in a research report on Tuesday, July 9th. Benchmark raised their price objective on Netflix from $450.00 to $545.00 and gave the company a sell rating in a research report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. upped their target price on Netflix from $650.00 to $750.00 and gave the stock an overweight rating in a research report on Friday, July 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $680.76.

Netflix Stock Performance

NASDAQ:NFLX opened at $633.34 on Friday. Netflix has a fifty-two week low of $344.73 and a fifty-two week high of $697.49. The firm’s 50 day moving average is $655.73 and its two-hundred day moving average is $604.31. The company has a market cap of $272.97 billion, a P/E ratio of 43.95, a P/E/G ratio of 1.37 and a beta of 1.27. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 33.22% and a net margin of 19.54%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the company posted $3.29 EPS. Analysts expect that Netflix will post 18.99 EPS for the current year.

Insider Activity at Netflix

In other Netflix news, insider David A. Hyman sold 268 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $18,764,328.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the transaction, the chairman now owns 57 shares in the company, valued at $38,217.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 268 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $18,764,328.20. The disclosure for this sale can be found here. Insiders sold a total of 71,385 shares of company stock valued at $44,469,351 in the last quarter. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. FORVIS Wealth Advisors LLC bought a new position in Netflix in the 4th quarter worth approximately $216,000. Brookstone Capital Management boosted its position in Netflix by 4.8% during the 4th quarter. Brookstone Capital Management now owns 6,825 shares of the Internet television network’s stock worth $3,323,000 after acquiring an additional 311 shares during the period. Cyndeo Wealth Partners LLC grew its stake in shares of Netflix by 12.1% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 1,124 shares of the Internet television network’s stock worth $547,000 after purchasing an additional 121 shares in the last quarter. Fortitude Family Office LLC acquired a new position in shares of Netflix during the fourth quarter valued at $57,000. Finally, Advisor Resource Council bought a new stake in shares of Netflix during the fourth quarter valued at about $1,156,000. Institutional investors 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.