Canaccord Genuity Group Raises Netflix (NASDAQ:NFLX) Price Target to $760.00

Netflix (NASDAQ:NFLX) had its target price increased by equities researchers at Canaccord Genuity Group from $750.00 to $760.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the Internet television network’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 0.86% from the company’s current price.

A number of other brokerages have also commented on NFLX. Deutsche Bank Aktiengesellschaft increased their price target on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group increased their target price on Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. Jefferies Financial Group upped their price target on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday. Guggenheim lifted their target price on Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Morgan Stanley increased their price objective on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $731.94.

Netflix Price Performance

NFLX traded up $65.88 during trading on Friday, reaching $753.53. 5,342,535 shares of the company traded hands, compared to its average volume of 3,670,801. The company has a market cap of $324.77 billion, a P/E ratio of 52.29, a PEG ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix has a 12-month low of $392.26 and a 12-month high of $756.90. The firm has a fifty day simple moving average of $693.78 and a 200 day simple moving average of $653.62.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.29 EPS. On average, equities analysts forecast that Netflix will post 19.08 EPS for the current year.

Insiders Place Their Bets

In other news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the sale, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Netflix news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the sale, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Spencer Adam Neumann sold 433 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $626.19, for a total value of $271,140.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 225,167 shares of company stock valued at $150,492,460. Insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Institutional investors and hedge funds have recently bought and sold shares of the business. Denver PWM LLC purchased a new position in shares of Netflix during the second quarter worth $25,000. Valued Wealth Advisors LLC grew its position in Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares during the period. Proffitt & Goodson Inc. grew its position in Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares during the period. AlphaMark Advisors LLC raised its stake in shares of Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares during the last quarter. Finally, Indiana Trust & Investment Management CO lifted its holdings in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.