Netflix (NASDAQ:NFLX) Price Target Raised to $726.00

Netflix (NASDAQ:NFLX) had its price target increased by investment analysts at Wells Fargo & Company from $650.00 to $726.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the Internet television network’s stock. Wells Fargo & Company‘s target price points to a potential upside of 18.91% from the company’s previous close.

Several other brokerages also recently commented on NFLX. KeyCorp boosted their price objective on Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Macquarie lifted their target price on Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a report on Tuesday. Seaport Res Ptn cut Netflix from a “buy” rating to a “neutral” rating in a report on Tuesday, January 30th. Evercore ISI lifted their target price on Netflix from $600.00 to $640.00 and gave the stock an “outperform” rating in a report on Thursday, March 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $628.76.

Netflix Price Performance

NASDAQ NFLX opened at $610.56 on Friday. The company has a market capitalization of $264.23 billion, a PE ratio of 50.84, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The business’s fifty day moving average is $605.77 and its 200 day moving average is $511.86. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The business had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same period in the previous year, the business earned $2.88 earnings per share. The business’s revenue was up 14.8% on a year-over-year basis. Sell-side analysts predict that Netflix will post 17.05 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, Director Jay C. Hoag sold 47,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total value of $25,873,500.00. Following the sale, the director now owns 431,034 shares of the company’s stock, valued at $237,284,217. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the sale, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jay C. Hoag sold 47,000 shares of the business’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total transaction of $25,873,500.00. Following the transaction, the director now owns 431,034 shares of the company’s stock, valued at approximately $237,284,217. The disclosure for this sale can be found here. Insiders have sold a total of 268,335 shares of company stock valued at $151,619,811 over the last quarter. 2.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netflix

A number of institutional investors and hedge funds have recently modified their holdings of NFLX. Norges Bank acquired a new position in shares of Netflix during the fourth quarter worth $2,558,598,000. Wellington Management Group LLP boosted its stake in Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after acquiring an additional 3,273,592 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Netflix by 117,939.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,742,048 shares of the Internet television network’s stock valued at $808,575,000 after acquiring an additional 2,739,725 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after buying an additional 2,061,859 shares during the last quarter. Finally, Jennison Associates LLC raised its holdings in shares of Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after buying an additional 1,573,978 shares during the last quarter. 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.