Netflix (NASDAQ:NFLX) Price Target Raised to $650.00

Netflix (NASDAQ:NFLX) had its price target hoisted by Evercore ISI from $640.00 to $650.00 in a research note published on Friday, Benzinga reports. They currently have an outperform rating on the Internet television network’s stock.

Several other analysts also recently weighed in on NFLX. Rosenblatt Securities decreased their price target on shares of Netflix from $554.00 to $540.00 and set a neutral rating for the company in a research note on Friday. Bank of America upped their target price on Netflix from $585.00 to $650.00 and gave the stock a buy rating in a report on Wednesday, January 24th. UBS Group raised their price target on Netflix from $570.00 to $685.00 and gave the company a buy rating in a research note on Tuesday, February 27th. Guggenheim upped their price objective on shares of Netflix from $600.00 to $700.00 and gave the stock a buy rating in a research note on Tuesday, April 16th. Finally, Canaccord Genuity Group downgraded shares of Netflix from a buy rating to a hold rating and cut their target price for the company from $720.00 to $585.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix presently has a consensus rating of Moderate Buy and an average price target of $630.58.

Netflix Stock Performance

NFLX stock opened at $555.04 on Friday. Netflix has a twelve month low of $315.62 and a twelve month high of $639.00. The firm has a market cap of $240.20 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 1.49 and a beta of 1.22. The business’s fifty day simple moving average is $605.65 and its two-hundred day simple moving average is $514.99. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.46%. 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 prior year, the business posted $2.88 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. Analysts predict that Netflix will post 17.13 earnings per share for the current year.

Insider Activity

In other Netflix news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the sale, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. 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 267 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The disclosure for this sale can be found here. Insiders have sold 268,335 shares of company stock valued at $151,619,811 over the last ninety days. 2.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. Indiana Trust & Investment Management CO boosted its stake in shares of Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after buying an additional 28 shares during the last quarter. VitalStone Financial LLC lifted its holdings in Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares during the period. Scarborough Advisors LLC purchased a new stake in Netflix in the 4th quarter worth approximately $32,000. Aspect Partners LLC purchased a new position in shares of Netflix during the 4th quarter valued at approximately $32,000. Finally, Authentikos Wealth Advisory LLC acquired a new position in shares of Netflix in the 3rd quarter valued at $25,000. 80.93% of the stock is owned by institutional investors and hedge funds.

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.