Netflix (NASDAQ:NFLX) Price Target Increased to $835.00 by Analysts at TD Cowen

Netflix (NASDAQ:NFLX) had its price objective increased by TD Cowen from $820.00 to $835.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the Internet television network’s stock.

Several other research analysts have also recently issued reports on the stock. Canaccord Genuity Group increased their price target on shares of Netflix from $750.00 to $760.00 and gave the stock a “hold” rating in a report on Friday. Benchmark reissued a “sell” rating and set a $545.00 price target on shares of Netflix in a report on Tuesday. China Renaissance assumed coverage on shares of Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 price target for the company. KeyCorp increased their target price on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a report on Friday. Finally, JPMorgan Chase & Co. increased their target price on shares of Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $739.38.

Netflix Price Performance

Shares of NFLX opened at $763.89 on Friday. The company has a market capitalization of $329.24 billion, a price-to-earnings ratio of 53.01, a price-to-earnings-growth 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 $766.28. The firm has a 50-day simple moving average of $696.38 and a 200-day simple moving average of $654.66. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the company posted $3.29 earnings per share. On average, equities research analysts anticipate that Netflix will post 19.08 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Spencer Adam Neumann sold 433 shares of Netflix 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the sale, the chairman now owns 57 shares of the company’s stock, valued at $35,991.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The disclosure for this sale can be found here. Insiders have sold 225,167 shares of company stock valued at $150,492,460 in the last quarter. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several hedge funds and other institutional investors have recently modified their holdings of NFLX. GQG Partners LLC bought a new stake in shares of Netflix in the 1st quarter worth about $1,450,476,000. Jennison Associates LLC increased its position in shares of Netflix by 17.0% in 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 last quarter. Global Assets Advisory LLC bought a new stake in shares of Netflix in the 1st quarter worth about $436,514,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Netflix in the 1st quarter worth about $372,293,000. Finally, Swedbank AB bought a new stake in shares of Netflix in the 1st quarter worth about $216,538,000. Institutional investors own 80.93% of the company’s stock.

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.