Netflix (NASDAQ:NFLX) Price Target Raised to $775.00

Netflix (NASDAQ:NFLX) had its price objective increased by equities researchers at Evercore ISI from $750.00 to $775.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the Internet television network’s stock. Evercore ISI’s target price would indicate a potential upside of 2.75% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Macquarie reissued an “outperform” rating and set a $795.00 price target on shares of Netflix in a report on Friday. Redburn Atlantic increased their price target on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research note on Friday, July 19th. BMO Capital Markets reissued an “outperform” rating and issued a $825.00 price target (up previously from $770.00) on shares of Netflix in a research note on Friday. Bank of America upped their target price on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research report on Monday, July 15th. Finally, Argus upped their target price on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average target price of $738.18.

Netflix Price Performance

Shares of NASDAQ:NFLX traded up $66.63 during midday trading on Friday, reaching $754.28. The company’s stock had a trading volume of 10,711,896 shares, compared to its average volume of 3,697,382. The business’s fifty day simple moving average is $693.78 and its 200-day simple moving average is $653.62. The company has a market capitalization of $325.09 billion, a P/E ratio of 52.34, a P/E/G ratio of 1.49 and a beta of 1.26. Netflix has a fifty-two week low of $392.26 and a fifty-two week high of $763.41. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. Netflix’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm earned $3.29 EPS. As a group, equities research analysts expect that Netflix will post 19.08 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the sale, the chairman now owns 57 shares in the company, valued at $35,991.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 225,167 shares of company stock worth $150,492,460. Company insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of institutional investors have recently bought and sold shares of NFLX. Slow Capital Inc. raised its holdings in Netflix by 1.6% during the third quarter. Slow Capital Inc. now owns 30,020 shares of the Internet television network’s stock valued at $21,292,000 after acquiring an additional 478 shares during the period. Capital Investment Advisors LLC boosted its position in shares of Netflix by 19.3% during the third quarter. Capital Investment Advisors LLC now owns 1,753 shares of the Internet television network’s stock valued at $1,244,000 after buying an additional 283 shares during the period. Blue Trust Inc. boosted its position in shares of Netflix by 33.2% during the third quarter. Blue Trust Inc. now owns 5,330 shares of the Internet television network’s stock valued at $3,597,000 after buying an additional 1,327 shares during the period. Dixon Mitchell Investment Counsel Inc. raised its stake in shares of Netflix by 5.5% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 41,766 shares of the Internet television network’s stock valued at $29,623,000 after acquiring an additional 2,189 shares in the last quarter. Finally, Mogy Joel R Investment Counsel Inc. raised its stake in Netflix by 4.5% in the third quarter. Mogy Joel R Investment Counsel Inc. now owns 23,356 shares of the Internet television network’s stock worth $16,566,000 after buying an additional 1,003 shares in the last quarter. 80.93% of the stock is owned by 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.