Netflix (NASDAQ:NFLX) Price Target Raised to $830.00 at Morgan Stanley

Netflix (NASDAQ:NFLX) had its price objective lifted by Morgan Stanley from $820.00 to $830.00 in a research note released on Friday morning, Marketbeat Ratings reports. Morgan Stanley currently has an overweight rating on the Internet television network’s stock.

NFLX has been the subject of a number of other research reports. StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. The Goldman Sachs Group lifted their price objective on shares of Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a report on Friday, July 19th. TD Cowen lifted their price objective on shares of Netflix from $775.00 to $820.00 and gave the company a “buy” rating in a report on Monday, October 7th. Jefferies Financial Group lifted their price objective on shares of Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Rosenblatt Securities lifted their price objective on shares of Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $739.38.

Netflix Price Performance

Shares of NFLX opened at $763.89 on Friday. Netflix has a 1-year low of $392.26 and a 1-year high of $766.28. The stock has a market cap of $329.24 billion, a PE ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26. The firm has a 50-day simple moving average of $696.38 and a two-hundred day simple moving average of $654.66. 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 quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.29 earnings per share. As a group, analysts forecast that Netflix will post 19.08 EPS for the current year.

Insider Activity at Netflix

In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,167 shares of company stock worth $150,492,460 in the last 90 days. 1.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Netflix

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after purchasing an additional 149,341 shares during the period. Jennison Associates LLC grew its stake in shares of Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares during the period. Baillie Gifford & Co. grew its stake in shares of Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after purchasing an additional 106,756 shares during the period. Legal & General Group Plc grew its stake in shares of Netflix by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after purchasing an additional 104,332 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Netflix by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock worth $2,214,488,000 after purchasing an additional 83,762 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

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.