Oppenheimer Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

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

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC lifted their target price on shares of Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday. Loop Capital decreased their target price on Netflix from $950.00 to $925.00 and set a “hold” rating for the company in a research note on Thursday, January 16th. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Sanford C. Bernstein raised their price target on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, BMO Capital Markets restated an “outperform” rating and set a $1,175.00 price objective (up previously from $1,000.00) on shares of Netflix in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $993.82.

Netflix Stock Up 9.7 %

Shares of NASDAQ NFLX opened at $953.99 on Wednesday. Netflix has a 1 year low of $481.40 and a 1 year high of $999.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $407.79 billion, a PE ratio of 48.11, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. The company has a 50 day simple moving average of $886.64 and a 200 day simple moving average of $762.07.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share 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 return on equity of 39.48% and a net margin of 22.34%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.11 earnings per share. On average, research analysts forecast that Netflix will post 23.43 EPS for the current year.

Insider Activity

In related news, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction on Tuesday, January 7th. The shares were 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 $216,327.48. This represents a 96.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now directly owns 114 shares of the company’s stock, valued at $102,212.40. The trade was a 99.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,198 shares of company stock valued at $127,616,898. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. State Street Corp boosted its holdings in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares during the period. Jennison Associates LLC boosted its position in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after acquiring an additional 316,594 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after buying an additional 23,702 shares in the last quarter. Hedge funds and other 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.