Redburn Atlantic Increases Netflix (NASDAQ:NFLX) Price Target to $760.00

Netflix (NASDAQ:NFLX) had its price objective upped by Redburn Atlantic from $740.00 to $760.00 in a research note released on Friday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the Internet television network’s stock.

Several other research analysts have also recently issued reports on NFLX. TD Cowen increased their price objective on Netflix from $725.00 to $775.00 and gave the stock a buy rating in a research report on Tuesday, July 9th. Macquarie reiterated an outperform rating and issued a $685.00 price objective on shares of Netflix in a research report on Tuesday, July 16th. Pivotal Research increased their price objective on Netflix from $765.00 to $800.00 and gave the stock a buy rating in a research report on Friday, April 19th. Jefferies Financial Group increased their price objective on Netflix from $655.00 to $780.00 and gave the stock a buy rating in a research report on Tuesday, July 16th. Finally, Barclays raised their price target on Netflix from $475.00 to $550.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $680.76.

Netflix Price Performance

Netflix stock opened at $633.34 on Friday. Netflix has a 12 month low of $344.73 and a 12 month high of $697.49. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The business has a 50 day simple moving average of $655.73 and a 200-day simple moving average of $604.31. The stock has a market capitalization of $272.97 billion, a PE ratio of 43.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 33.22% and a net margin of 19.54%. Netflix’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.29 earnings per share. Equities analysts predict that Netflix will post 18.99 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the transaction, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $38,217.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Anne M. Sweeney sold 633 shares of Netflix stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total value of $354,480.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,385 shares of company stock valued at $44,469,351. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently modified their holdings of NFLX. Norges Bank acquired a new position in shares of Netflix in the 4th quarter valued at about $2,558,598,000. Wellington Management Group LLP raised its holdings in shares of Netflix by 540.9% during the 4th 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 buying an additional 3,273,592 shares during the period. GQG Partners LLC purchased a new stake in shares of Netflix during the 1st quarter valued at about $1,450,476,000. International Assets Investment Management LLC raised its holdings in shares of Netflix by 15,039.1% during the 4th 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 period. Finally, Jennison Associates LLC raised its holdings in shares of Netflix by 40.6% during the 4th 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 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.