Netflix (NASDAQ:NFLX) Price Target Raised to $760.00

by · The Cerbat Gem

Netflix (NASDAQ:NFLX – Free Report) had its price objective upped by KeyCorp from $735.00 to $760.00 in a report released on Tuesday, Marketbeat Ratings reports. The firm currently has an overweight rating on the Internet television network’s stock.

Other analysts have also issued research reports about the stock. Needham & Company LLC reissued a buy rating and issued a $700.00 price target on shares of Netflix in a research report on Friday, July 19th. Macquarie reissued an outperform rating and set a $685.00 target price on shares of Netflix in a report on Tuesday, July 16th. Citigroup raised their price target on Netflix from $660.00 to $675.00 and gave the stock a neutral rating in a report on Monday, July 22nd. Evercore ISI lifted their price target on Netflix from $710.00 to $750.00 and gave the company an outperform rating in a research report on Tuesday, August 27th. Finally, Pivotal Research increased their price objective on Netflix from $800.00 to $900.00 and gave the stock a buy rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, Netflix presently has a consensus rating of Moderate Buy and an average price target of $686.03.

Get Our Latest Report on Netflix

Netflix Stock Performance

NASDAQ:NFLX opened at $706.80 on Tuesday. The company has a market capitalization of $304.63 billion, a P/E ratio of 49.05, a P/E/G ratio of 1.44 and a beta of 1.26. The business has a fifty day simple moving average of $675.08 and a two-hundred day simple moving average of $647.16. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. Netflix has a 1 year low of $344.73 and a 1 year high of $725.26.

Netflix (NASDAQ:NFLX – Get Free Report) last posted its quarterly 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. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the prior year, the company earned $3.29 EPS. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, analysts expect that Netflix will post 19.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares of the company’s stock, valued at approximately $60,023.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at $8,043,019.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 45,290 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the transaction, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 224,784 shares of company stock valued at $150,212,870. 1.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Netflix

A number of large investors have recently added to or reduced their stakes in NFLX. Vanguard Group Inc. grew its position in shares of Netflix by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after buying an additional 149,341 shares during the last quarter. Capital World Investors boosted its holdings in Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after acquiring an additional 78,320 shares in the last quarter. Jennison Associates LLC boosted its holdings in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after acquiring an additional 929,193 shares in the last quarter. Baillie Gifford & Co. increased its position in Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after purchasing an additional 106,756 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in Netflix by 1.8% in the 4th quarter. Fisher Asset Management LLC now owns 4,115,613 shares of the Internet television network’s stock worth $2,003,810,000 after purchasing an additional 72,807 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Company Profile

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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.

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