Citigroup Raises Netflix (NASDAQ:NFLX) Price Target to $675.00

Netflix (NASDAQ:NFLX) had its target price lifted by Citigroup from $660.00 to $675.00 in a research report sent to investors on Monday, Benzinga reports. Citigroup currently has a neutral rating on the Internet television network’s stock.

A number of other research analysts have also recently issued reports on NFLX. Canaccord Genuity Group cut Netflix from a buy rating to a hold rating and cut their price objective for the company from $720.00 to $585.00 in a report on Friday, April 19th. Argus lifted their price target on Netflix from $660.00 to $767.00 and gave the company a buy rating in a report on Tuesday, July 2nd. Barclays lifted their price target on Netflix from $475.00 to $550.00 and gave the company an equal weight rating in a report on Tuesday, April 9th. BMO Capital Markets reaffirmed an outperform rating and issued a $713.00 price target (up from $638.00) on shares of Netflix in a report on Wednesday, April 17th. Finally, The Goldman Sachs Group lifted their price target on Netflix from $650.00 to $659.00 and gave the company a neutral rating in a report on Friday, July 19th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $681.21.

Netflix Stock Down 1.1 %

Shares of NASDAQ NFLX opened at $635.99 on Monday. The stock has a market cap of $272.95 billion, a PE ratio of 44.14, a PEG ratio of 1.32 and a beta of 1.27. The business has a fifty day moving average of $657.38 and a two-hundred day moving average of $606.92. Netflix has a 52-week low of $344.73 and a 52-week high of $697.49. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.07 and a current ratio of 0.95.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s revenue was up 16.8% on a year-over-year basis. During the same period last year, the business earned $3.29 earnings per share. As a group, equities research analysts expect that Netflix will post 19.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the sale, the chairman now owns 57 shares in the company, valued at approximately $38,217.93. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Anne M. Sweeney sold 633 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total transaction of $354,480.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction that occurred on 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 sale, the chairman now owns 57 shares in the company, valued at approximately $38,217.93. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,385 shares of company stock worth $44,469,351. 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 the stock. Columbia Trust Co 01012016 increased its holdings in shares of Netflix by 15.3% during the 4th quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock worth $762,000 after acquiring an additional 208 shares during the last quarter. Crumly & Associates Inc. increased its holdings in shares of Netflix by 4.1% during the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after acquiring an additional 83 shares during the last quarter. Venture Visionary Partners LLC increased its holdings in shares of Netflix by 15.4% during the 4th quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock worth $4,795,000 after acquiring an additional 1,318 shares during the last quarter. Sandy Cove Advisors LLC increased its holdings in shares of Netflix by 10.6% during the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock worth $578,000 after acquiring an additional 114 shares during the last quarter. Finally, Malaga Cove Capital LLC increased its holdings in shares of Netflix by 25.4% during the 4th quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock worth $761,000 after acquiring an additional 316 shares during the last quarter. Institutional investors 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.