TD Cowen Boosts Netflix (NASDAQ:NFLX) Price Target to $775.00

Netflix (NASDAQ:NFLX) had its price target upped by TD Cowen from $725.00 to $775.00 in a research report released on Tuesday morning, MarketBeat.com reports. TD Cowen currently has a buy rating on the Internet television network’s stock.

NFLX has been the subject of a number of other research reports. Benchmark lifted their price target on shares of Netflix from $440.00 to $450.00 and gave the stock a sell rating in a research note on Friday, May 17th. Oppenheimer restated an outperform rating and issued a $725.00 price target on shares of Netflix in a research note on Friday, April 19th. Barclays boosted their target price on shares of Netflix from $475.00 to $550.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. Wedbush reiterated an outperform rating and set a $725.00 target price on shares of Netflix in a research note on Monday, May 20th. Finally, Guggenheim boosted their target price on shares of Netflix from $600.00 to $700.00 and gave the company a buy rating in a research note on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, Netflix has an average rating of Moderate Buy and an average price target of $639.57.

Netflix Trading Down 3.7 %

NFLX opened at $652.75 on Tuesday. The firm has a market capitalization of $281.34 billion, a P/E ratio of 45.30, a P/E/G ratio of 1.46 and a beta of 1.27. The firm’s 50 day moving average is $650.34 and its 200-day moving average is $595.84. Netflix has a 52-week low of $344.73 and a 52-week high of $697.49. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.88 earnings per share. Analysts expect that Netflix will post 18.31 EPS for the current fiscal year.

Insider Transactions at Netflix

In other news, CFO Spencer Adam Neumann sold 564 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total value of $345,777.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the transaction, the chairman now owns 28 shares of the company’s stock, valued at $15,443.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 564 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total transaction of $345,777.12. The disclosure for this sale can be found here. Insiders sold 71,385 shares of company stock valued at $44,469,351 over the last three months. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Valued Wealth Advisors LLC raised its position in Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares in the last quarter. VitalStone Financial LLC raised its position in Netflix by 933.3% during 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 in the last quarter. Beaird Harris Wealth Management LLC raised its position in Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 62 shares in the last quarter. Scarborough Advisors LLC acquired a new position in Netflix during the fourth quarter valued at approximately $32,000. Finally, Indiana Trust & Investment Management CO grew its holdings in Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares during the last quarter. Institutional investors 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.