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

Netflix (NASDAQ:NFLX) had its price target boosted by Needham & Company LLC from $800.00 to $1,150.00 in a research report report published on Wednesday,Benzinga reports. They currently have a buy rating on the Internet television network’s stock.

A number of other research firms have also recently weighed in on NFLX. JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday. Jefferies Financial Group lifted their price objective on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Macquarie lifted their price objective on shares of Netflix from $965.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday. Bank of America lifted their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Seaport Res Ptn raised shares of Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $1,009.29.

Netflix Trading Down 0.7 %

NASDAQ NFLX opened at $977.59 on Wednesday. The company has a market capitalization of $417.88 billion, a PE ratio of 49.30, a P/E/G ratio of 1.53 and a beta of 1.27. The company has a fifty day moving average of $892.06 and a 200 day moving average of $764.95. Netflix has a 1 year low of $542.01 and a 1 year high of $999.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10,141,900 billion. During the same quarter in the previous year, the company earned $2.11 earnings per share. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. Research analysts forecast that Netflix will post 23.72 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, Director Jay C. Hoag sold 617 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total value of $604,481.07. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Theodore A. Sarandos sold 1,278 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total transaction of $980,289.90. Following the completion of the transaction, the chief executive officer now owns 2,556 shares in the company, valued at $1,960,579.80. The trade was a 33.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,117 shares of company stock worth $123,913,691 in the last ninety days. 1.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Netflix

Large investors have recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix in the 3rd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Netflix in the 3rd quarter worth approximately $37,000. FSA Wealth Management LLC acquired a new position in shares of Netflix in the 3rd quarter worth approximately $38,000. Finally, First Personal Financial Services acquired a new position in shares of Netflix in the 3rd quarter worth approximately $40,000. 80.93% of the stock is currently 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.