Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Netflix (NASDAQ:NFLX) had its price target increased by The Goldman Sachs Group from $850.00 to $960.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the Internet television network’s stock. The Goldman Sachs Group’s price objective would indicate a potential downside of 0.03% from the company’s current price.

A number of other equities analysts also recently issued reports on the company. Wedbush reiterated an “outperform” rating and set a $950.00 price target (up previously from $800.00) on shares of Netflix in a research note on Monday, November 18th. Morgan Stanley raised their target price on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group raised their price objective on shares of Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Loop Capital increased their target price on shares of Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a research note on Wednesday. Finally, Sanford C. Bernstein raised their price target on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $984.42.

Netflix Trading Up 10.4 %

NASDAQ NFLX traded up $90.60 during trading hours on Wednesday, hitting $960.28. The company’s stock had a trading volume of 9,960,949 shares, compared to its average volume of 4,214,347. Netflix has a twelve month low of $481.40 and a twelve month high of $999.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $410.48 billion, a P/E ratio of 54.36, a PEG ratio of 1.40 and a beta of 1.27. The stock has a fifty day moving average of $886.64 and a 200 day moving average of $762.07.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. During the same quarter in the previous year, the firm earned $2.11 EPS. The business’s quarterly revenue was up 16.0% on a year-over-year basis. Equities research analysts forecast that Netflix will post 19.76 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, Director Richard N. Barton sold 6,364 shares of the stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the sale, the director now owns 246 shares of the company’s stock, valued at approximately $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the transaction, the chairman now owns 114 shares in the company, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,198 shares of company stock worth $127,616,898 in the last quarter. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of hedge funds and other institutional investors have recently made changes to their positions in NFLX. RPg Family Wealth Advisory LLC purchased a new stake in Netflix in the 3rd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the period. Decker Retirement Planning Inc. purchased a new position in shares of Netflix during the fourth quarter valued at about $43,000. MidAtlantic Capital Management Inc. purchased a new position in Netflix during the third quarter valued at $37,000. Finally, FSA Wealth Management LLC bought a new position in shares of Netflix during the third quarter valued at approximately $38,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.