Citigroup Raises Netflix (NASDAQ:NFLX) Price Target to $675.00

Netflix (NASDAQ:NFLX) had its target price raised by Citigroup from $660.00 to $675.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the Internet television network’s stock. Citigroup’s price objective suggests a potential upside of 4.25% from the stock’s current price.

Several other equities research analysts have also recently commented on NFLX. Guggenheim boosted their price target on shares of Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. raised their price target on Netflix from $650.00 to $750.00 and gave the company an “overweight” rating in a research note on Friday, July 12th. Canaccord Genuity Group cut Netflix from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $720.00 to $585.00 in a research note on Friday, April 19th. Morgan Stanley increased their price target on shares of Netflix from $700.00 to $780.00 and gave the company an “overweight” rating in a research note on Monday, July 15th. Finally, Jefferies Financial Group raised their target price on shares of Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $681.21.

Netflix Stock Up 2.2 %

NASDAQ NFLX traded up $14.16 during trading hours on Monday, reaching $647.50. 5,176,983 shares of the company’s stock were exchanged, compared to its average volume of 3,969,987. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. Netflix has a one year low of $344.73 and a one year high of $697.49. The company’s 50-day moving average is $655.73 and its two-hundred day moving average is $604.31. The company has a market capitalization of $279.07 billion, a price-to-earnings ratio of 44.93, a price-to-earnings-growth ratio of 1.37 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 33.22% and a net margin of 19.54%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the business posted $3.29 EPS. On average, analysts forecast that Netflix will post 18.99 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.81, for a total value of $758,889.18. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $7,772,972.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Gregory K. Peters sold 1,278 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.81, for a total value of $758,889.18. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $7,772,972.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 18,361 shares of the business’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $551.54, for a total transaction of $10,126,825.94. Following the sale, the chairman now directly owns 28 shares in the company, valued at approximately $15,443.12. The disclosure for this sale can be found here. Insiders sold a total of 71,385 shares of company stock worth $44,469,351 over the last three months. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently added to or reduced their stakes in the business. Valued Wealth Advisors LLC lifted its holdings in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the period. VitalStone Financial LLC lifted its holdings in Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after buying an additional 56 shares during the period. Beaird Harris Wealth Management LLC lifted its holdings in Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after buying an additional 62 shares during the period. Scarborough Advisors LLC bought a new stake in shares of Netflix in the 4th quarter valued at about $32,000. Finally, Indiana Trust & Investment Management CO increased its stake in shares of Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.