Netflix (NASDAQ:NFLX) Price Target Raised to $1,000.00 at Loop Capital

Netflix (NASDAQ:NFLX) had its price target increased by equities research analysts at Loop Capital from $925.00 to $1,000.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the Internet television network’s stock. Loop Capital’s target price would indicate a potential upside of 1.54% from the stock’s current price.

Several other equities research analysts have also recently weighed in on NFLX. Sanford C. Bernstein increased their price target on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Guggenheim increased their target price on shares of Netflix from $825.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Wells Fargo & Company raised their price target on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. BMO Capital Markets reiterated an “outperform” rating and set a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a research report on Wednesday. Finally, The Goldman Sachs Group boosted their target price on shares of Netflix from $750.00 to $850.00 and gave the company a “neutral” rating in a report on Wednesday, January 8th. Ten investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $996.94.

Netflix Stock Performance

Netflix stock opened at $984.86 on Wednesday. The business has a 50 day moving average of $889.11 and a 200-day moving average of $763.41. The company has a market capitalization of $420.99 billion, a P/E ratio of 49.67, a P/E/G ratio of 1.41 and a beta of 1.27. Netflix has a 1 year low of $537.07 and a 1 year high of $999.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10,141,900 billion. During the same period in the prior year, the company posted $2.11 EPS. The company’s revenue was up 16.0% on a year-over-year basis. On average, equities research analysts predict that Netflix will post 23.43 earnings per share for the current year.

Insider Buying and Selling at Netflix

In related news, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $772.10, for a total transaction of $334,319.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Theodore A. Sarandos sold 1,278 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total value of $980,289.90. Following the completion of the transaction, the chief executive officer now directly owns 2,556 shares in the company, valued at approximately $1,960,579.80. This represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,500 shares of company stock worth $123,309,210. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several large investors have recently made changes to their positions in NFLX. State Street Corp increased its holdings in Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after acquiring an additional 123,029 shares during the period. Jennison Associates LLC increased its stake in shares of Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP lifted its stake in Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares during the last quarter. 80.93% of the stock is 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.