JPMorgan Chase & Co. Increases Netflix (NASDAQ:NFLX) Price Target to $1,150.00

Netflix (NASDAQ:NFLX) had its price objective increased by investment analysts at JPMorgan Chase & Co. from $1,000.00 to $1,150.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the Internet television network’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 16.77% from the company’s previous close.

A number of other brokerages have also weighed in on NFLX. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Wedbush reaffirmed an “outperform” rating and issued a $950.00 price objective (up from $800.00) on shares of Netflix in a research note on Monday, November 18th. Rosenblatt Securities raised shares of Netflix from a “neutral” rating to a “buy” rating and raised their target price for the company from $680.00 to $1,494.00 in a research report on Wednesday. Oppenheimer reduced their price objective on shares of Netflix from $1,065.00 to $1,040.00 and set an “outperform” rating for the company in a research note on Wednesday, January 15th. Finally, Guggenheim increased their target price on Netflix from $825.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $996.94.

Netflix Trading Up 3.2 %

NFLX stock opened at $984.86 on Wednesday. Netflix has a twelve month low of $537.07 and a twelve month high of $999.00. The stock has a market capitalization of $420.99 billion, a price-to-earnings ratio of 49.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $889.11 and its two-hundred day simple moving average is $763.41.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.11 EPS. As a group, analysts anticipate that Netflix will post 23.43 earnings per share for the current year.

Insider Transactions at Netflix

In other Netflix news, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the sale, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 146,500 shares of company stock valued at $123,309,210 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC acquired a new position in Netflix during the third quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Netflix during the third quarter worth about $37,000. FSA Wealth Management LLC acquired a new position in Netflix in the third quarter valued at approximately $38,000. Finally, First Personal Financial Services purchased a new stake in Netflix in the third quarter valued at $40,000. 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.