Netflix (NASDAQ:NFLX) Price Target Raised to $1,150.00

Netflix (NASDAQ:NFLX) had its target price hoisted by Oppenheimer from $1,040.00 to $1,150.00 in a report issued on Wednesday, MarketBeat.com reports. Oppenheimer currently has an outperform rating on the Internet television network’s stock.

Other equities research analysts have also issued reports about the stock. JPMorgan Chase & Co. raised their price target on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group lifted their price target on Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and boosted their target price for the company from $940.00 to $1,150.00 in a research note on Wednesday. Wolfe Research reissued an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Finally, Pivotal Research boosted their price target on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $1,009.29.

Netflix Stock Performance

NASDAQ:NFLX opened at $977.59 on Wednesday. Netflix has a twelve month low of $542.01 and a twelve month high of $999.00. The firm has a market capitalization of $417.88 billion, a price-to-earnings ratio of 49.30, a PEG ratio of 1.53 and a beta of 1.27. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The firm’s fifty day simple moving average is $892.06 and its 200 day simple moving average is $764.95.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the business posted $2.11 EPS. As a group, equities research analysts expect that Netflix will post 23.72 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In related news, Director Jay C. Hoag sold 617 shares of Netflix stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total transaction of $604,481.07. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the transaction, the director now directly owns 246 shares in the company, valued at $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,117 shares of company stock valued at $123,913,691. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Enzi Wealth grew its position in Netflix by 3.4% in the 4th quarter. Enzi Wealth now owns 331 shares of the Internet television network’s stock valued at $316,000 after purchasing an additional 11 shares during the period. TCI Wealth Advisors Inc. lifted its position in shares of Netflix by 1.6% during the 4th quarter. TCI Wealth Advisors Inc. now owns 700 shares of the Internet television network’s stock worth $624,000 after buying an additional 11 shares in the last quarter. Blossom Wealth Management boosted its position in Netflix by 0.9% in the fourth quarter. Blossom Wealth Management now owns 1,248 shares of the Internet television network’s stock worth $1,112,000 after purchasing an additional 11 shares during the last quarter. Everett Harris & Co. CA boosted its holdings in shares of Netflix by 1.3% in the 4th quarter. Everett Harris & Co. CA now owns 870 shares of the Internet television network’s stock worth $775,000 after buying an additional 11 shares during the last quarter. Finally, Advisory Resource Group grew its position in shares of Netflix by 0.7% during the 3rd quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after acquiring an additional 12 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.