Evercore ISI Increases Netflix (NASDAQ:NFLX) Price Target to $650.00

Netflix (NASDAQ:NFLX) had its price target raised by equities research analysts at Evercore ISI from $640.00 to $650.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the Internet television network’s stock. Evercore ISI’s price objective points to a potential upside of 16.59% from the company’s current price.

NFLX has been the subject of a number of other research reports. The Goldman Sachs Group increased their price target on Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. KeyCorp increased their price target on Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Canaccord Genuity Group reiterated a “hold” rating and issued a $585.00 price target (down previously from $720.00) on shares of Netflix in a research report on Friday. Wells Fargo & Company increased their price target on Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Piper Sandler raised their price objective on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $630.58.

Netflix Price Performance

NASDAQ:NFLX traded down $53.05 during mid-day trading on Friday, reaching $557.51. 11,640,996 shares of the stock were exchanged, compared to its average volume of 4,387,285. The business has a fifty day moving average price of $605.77 and a 200 day moving average price of $511.86. The firm has a market capitalization of $241.27 billion, a PE ratio of 46.42, a PEG ratio of 1.65 and a beta of 1.22. Netflix has a 1-year low of $315.62 and a 1-year high of $639.00. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. Netflix’s revenue was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.88 earnings per share. Research analysts expect that Netflix will post 17.05 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ann Mather sold 3,673 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total transaction of $2,203,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider David A. Hyman sold 47,574 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ann Mather sold 3,673 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $2,203,800.00. The disclosure for this sale can be found here. Insiders sold 268,335 shares of company stock worth $151,619,811 over the last ninety days. 2.45% of the stock is currently owned by corporate insiders.

Institutional Trading of Netflix

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 36,438,570 shares of the Internet television network’s stock valued at $17,741,211,000 after buying an additional 178,286 shares during the last quarter. State Street Corp lifted its position in shares of Netflix by 0.4% in the first quarter. State Street Corp now owns 16,195,490 shares of the Internet television network’s stock valued at $5,595,196,000 after buying an additional 62,507 shares during the last quarter. Capital World Investors lifted its position in shares of Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after buying an additional 78,320 shares during the last quarter. Morgan Stanley increased its stake in shares of Netflix by 11.1% during the fourth quarter. Morgan Stanley now owns 6,463,661 shares of the Internet television network’s stock worth $1,906,005,000 after purchasing an additional 644,162 shares during the period. Finally, Jennison Associates LLC increased its stake in shares of Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares during the period. 80.93% of the stock is 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.