Netflix (NASDAQ:NFLX) Price Target Raised to $960.00

Netflix (NASDAQ:NFLX) had its target price hoisted by The Goldman Sachs Group from $850.00 to $960.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the Internet television network’s stock.

A number of other brokerages have also recently commented on NFLX. Argus boosted their price target on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Pivotal Research increased their target price on Netflix from $1,100.00 to $1,250.00 and gave the stock a “buy” rating in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $950.00 price target (up previously from $800.00) on shares of Netflix in a research report on Monday, November 18th. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a research report on Wednesday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,175.00 target price (up from $1,000.00) on shares of Netflix in a report on Wednesday. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $993.82.

Netflix Trading Up 9.7 %

NASDAQ NFLX opened at $953.99 on Wednesday. The stock’s 50 day moving average is $886.64 and its 200 day moving average is $762.07. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $407.79 billion, a PE ratio of 48.11, a P/E/G ratio of 1.41 and a beta of 1.27. Netflix has a twelve month low of $481.40 and a twelve month high of $999.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10,141,900 billion. During the same period last year, the business earned $2.11 EPS. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. Research analysts forecast that Netflix will post 23.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the sale, the director now directly owns 246 shares in the company, valued at $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 41,601 shares of Netflix stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $758.06, for a total value of $31,536,054.06. Following the completion of the transaction, the chairman now owns 85 shares of the company’s stock, valued at approximately $64,435.10. This trade represents a 99.80 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 152,198 shares of company stock valued at $127,616,898. 1.76% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

Several institutional investors have recently added to or reduced their stakes in NFLX. RPg Family Wealth Advisory LLC bought a new position in Netflix in the 3rd quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Netflix in the 3rd quarter worth about $37,000. FSA Wealth Management LLC purchased a new position in Netflix in the 3rd quarter worth about $38,000. Finally, First Personal Financial Services bought a new stake in Netflix during the 3rd quarter valued at about $40,000. Institutional investors own 80.93% of the company’s stock.

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.