Evercore ISI Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX) had its price target lifted by equities research analysts at Evercore ISI from $775.00 to $950.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the Internet television network’s stock. Evercore ISI’s target price indicates a potential upside of 7.13% from the company’s current price.

A number of other research analysts have also recently issued reports on the company. The Goldman Sachs Group set a $750.00 price objective on Netflix in a research note on Friday, October 18th. JPMorgan Chase & Co. lifted their price target on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Needham & Company LLC increased their price objective on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Macquarie restated an “outperform” rating and issued a $795.00 target price on shares of Netflix in a report on Friday, October 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $770.12.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $886.81 on Monday. The stock has a market cap of $379.08 billion, a price-to-earnings ratio of 50.19, a P/E/G ratio of 1.71 and a beta of 1.25. The stock’s 50-day moving average is $773.01 and its 200 day moving average is $700.75. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix has a 1-year low of $445.73 and a 1-year high of $908.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $9.77 billion. On average, sell-side analysts anticipate that Netflix will post 19.78 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 185,866 shares of company stock worth $133,393,921 over the last ninety days. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Park Avenue Securities LLC grew its stake in shares of Netflix by 8.6% during the 2nd quarter. Park Avenue Securities LLC now owns 13,647 shares of the Internet television network’s stock worth $9,210,000 after purchasing an additional 1,076 shares during the period. Apella Capital LLC increased its position in shares of Netflix by 60.2% in the second quarter. Apella Capital LLC now owns 995 shares of the Internet television network’s stock valued at $682,000 after buying an additional 374 shares in the last quarter. Cullinan Associates Inc. increased its position in shares of Netflix by 98.6% in the second quarter. Cullinan Associates Inc. now owns 1,390 shares of the Internet television network’s stock valued at $938,000 after buying an additional 690 shares in the last quarter. NBC Securities Inc. raised its stake in shares of Netflix by 2.7% during the 2nd quarter. NBC Securities Inc. now owns 4,173 shares of the Internet television network’s stock worth $2,816,000 after buying an additional 108 shares during the period. Finally, Aprio Wealth Management LLC lifted its position in shares of Netflix by 9.1% during the 2nd quarter. Aprio Wealth Management LLC now owns 1,840 shares of the Internet television network’s stock valued at $1,242,000 after buying an additional 153 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

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.