Netflix (NASDAQ:NFLX) Price Target Raised to $767.00 at Argus

Netflix (NASDAQ:NFLX) had its target price upped by equities researchers at Argus from $660.00 to $767.00 in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The brokerage presently has a “buy” rating on the Internet television network’s stock. Argus’ price target would suggest a potential upside of 12.38% from the stock’s current price.

NFLX has been the topic of a number of other reports. Loop Capital boosted their price target on shares of Netflix from $700.00 to $750.00 and gave the company a “buy” rating in a research note on Tuesday, June 18th. Sanford C. Bernstein upped their price target on Netflix from $490.00 to $600.00 and gave the stock a “market perform” rating in a research note on Friday, April 19th. Wells Fargo & Company lifted their price objective on Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. KeyCorp boosted their price objective on Netflix from $705.00 to $707.00 and gave the company an “overweight” rating in a report on Thursday, June 13th. Finally, JPMorgan Chase & Co. raised their target price on Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $637.34.

Netflix Price Performance

NFLX stock opened at $682.51 on Tuesday. Netflix has a 52-week low of $344.73 and a 52-week high of $689.88. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a market cap of $294.16 billion, a price-to-earnings ratio of 47.36, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. The business has a fifty day moving average of $633.35 and a two-hundred day moving average of $587.97.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company earned $2.88 EPS. As a group, research analysts anticipate that Netflix will post 18.31 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 268 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $18,764,328.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Chairman Reed Hastings sold 18,361 shares of Netflix stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total value of $10,126,825.94. Following the transaction, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $15,443.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Hyman sold 268 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total transaction of $159,090.16. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $18,764,328.20. The disclosure for this sale can be found here. Insiders sold 71,385 shares of company stock worth $44,469,351 over the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of institutional investors and hedge funds have recently made changes to their positions in NFLX. Vanguard Group Inc. raised its stake in Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after acquiring an additional 149,341 shares during the last quarter. Capital World Investors raised its stake in shares of Netflix by 0.7% during the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after purchasing an additional 78,320 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares during the period. Norges Bank purchased a new position in Netflix in the 4th quarter valued at $2,558,598,000. Finally, Fisher Asset Management LLC increased its stake in Netflix by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock valued at $2,006,483,000 after buying an additional 78,298 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.