Netflix (NASDAQ:NFLX) Price Target Raised to $685.00

Netflix (NASDAQ:NFLX) had its price target hoisted by Macquarie from $595.00 to $685.00 in a research note released on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the Internet television network’s stock.

Several other equities analysts have also recently weighed in on NFLX. JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $610.00 to $650.00 and gave the stock an overweight rating in a research report on Monday, April 8th. Jefferies Financial Group lifted their price objective on shares of Netflix from $580.00 to $700.00 and gave the stock a buy rating in a research report on Tuesday, March 12th. TD Cowen boosted their price target on shares of Netflix from $600.00 to $725.00 and gave the company a buy rating in a report on Monday, April 8th. Sanford C. Bernstein boosted their price target on shares of Netflix from $390.00 to $490.00 and gave the company a market perform rating in a report on Wednesday, January 24th. Finally, Evercore ISI boosted their price target on shares of Netflix from $600.00 to $640.00 and gave the company an outperform rating in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix currently has an average rating of Moderate Buy and a consensus target price of $614.75.

Netflix Trading Down 0.5 %

NASDAQ NFLX opened at $610.56 on Tuesday. Netflix has a twelve month low of $315.62 and a twelve month high of $639.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $264.23 billion, a price-to-earnings ratio of 50.84, a PEG ratio of 1.65 and a beta of 1.22. The firm’s 50 day moving average price is $605.77 and its two-hundred day moving average price is $511.86.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same period in the previous year, the company posted $2.88 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Equities analysts anticipate that Netflix will post 17.05 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 5,352 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,181,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CEO Gregory K. Peters sold 5,352 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,181,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Hyman sold 47,574 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock valued at $151,619,811 in the last quarter. Insiders own 2.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NFLX. Norges Bank acquired a new position in Netflix in the fourth quarter worth about $2,558,598,000. Wellington Management Group LLP raised its position in Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares in the last quarter. Moneta Group Investment Advisors LLC raised its position in Netflix by 117,939.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,742,048 shares of the Internet television network’s stock worth $808,575,000 after purchasing an additional 2,739,725 shares in the last quarter. International Assets Investment Management LLC grew its stake in Netflix by 15,039.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after buying an additional 2,061,859 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after buying an additional 1,573,978 shares during the last quarter. Institutional investors and hedge funds 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.