Netflix (NASDAQ:NFLX) Price Target Raised to $1,100.00

Netflix (NASDAQ:NFLX) had its price objective increased by Guggenheim from $950.00 to $1,100.00 in a report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the Internet television network’s stock.

NFLX has been the subject of a number of other reports. UBS Group raised their price target on Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday. Bank of America boosted their target price on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research report on Wednesday. The Goldman Sachs Group boosted their price objective on Netflix from $750.00 to $850.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Finally, Citigroup increased their target price on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $1,009.29.

Netflix Price Performance

NFLX stock opened at $977.59 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22. The company has a market capitalization of $417.88 billion, a PE ratio of 49.30, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. The company’s fifty day moving average price is $892.06 and its 200-day moving average price is $764.95. Netflix has a one year low of $542.01 and a one year high of $999.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.11 EPS. On average, equities analysts anticipate that Netflix will post 23.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 246 shares in the company, valued at $216,327.48. The trade was a 96.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jay C. Hoag sold 617 shares of the company’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total value of $604,481.07. The disclosure for this sale can be found here. Insiders sold 147,117 shares of company stock valued at $123,913,691 over the last quarter. 1.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. DigitalBridge Group Inc. increased its position in Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after buying an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Netflix by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after buying an additional 29,726 shares during the last quarter. Natixis Advisors LLC raised its position in shares of Netflix by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after buying an additional 11,921 shares during the period. Finally, M&T Bank Corp lifted its holdings in Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after acquiring an additional 1,684 shares during the last quarter. 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.