Netflix (NASDAQ:NFLX) Price Target Raised to $1,000.00

Netflix (NASDAQ:NFLX) had its target price hoisted by Bank of America from $800.00 to $1,000.00 in a research report released on Thursday morning,Benzinga reports. They currently have a buy rating on the Internet television network’s stock.

NFLX has been the subject of several other reports. Oppenheimer upped their price objective on shares of Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research note on Friday, October 18th. BMO Capital Markets reaffirmed an “outperform” rating and set a $825.00 price target (up previously from $770.00) on shares of Netflix in a research report on Friday, October 18th. Guggenheim lifted their price objective on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. upped their target price on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, Macquarie reiterated an “outperform” rating and issued a $795.00 price target on shares of Netflix in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $764.82.

Netflix Price Performance

NFLX opened at $897.79 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s 50 day simple moving average is $755.40 and its 200 day simple moving average is $690.93. The firm has a market cap of $383.77 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 1.73 and a beta of 1.25. Netflix has a 1 year low of $445.73 and a 1 year high of $908.00.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) 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 firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. As a group, analysts predict that Netflix will post 19.78 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the completion of the sale, the chairman now directly owns 85 shares in the company, valued at approximately $57,878.20. The trade was a 99.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction 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. In the last 90 days, insiders have sold 185,866 shares of company stock worth $133,393,921. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. RPg Family Wealth Advisory LLC purchased a new position in shares of Netflix in the third quarter worth approximately $25,000. Denver PWM LLC purchased a new position in shares of Netflix during the 2nd quarter worth $25,000. Proffitt & Goodson Inc. grew its position in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its stake in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. Finally, AlphaMark Advisors LLC raised its holdings in Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares during the period. Institutional investors 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.