Netflix (NASDAQ:NFLX) Price Target Raised to $850.00 at The Goldman Sachs Group

Netflix (NASDAQ:NFLX) had its price objective boosted by equities research analysts at The Goldman Sachs Group from $750.00 to $850.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the Internet television network’s stock. The Goldman Sachs Group’s price target would indicate a potential downside of 3.32% from the company’s previous close.

NFLX has been the topic of several other reports. Wedbush reissued an “outperform” rating and issued a $950.00 price objective (up from $800.00) on shares of Netflix in a research report on Monday, November 18th. Barclays reissued an “underweight” rating and set a $550.00 price target on shares of Netflix in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Rosenblatt Securities boosted their target price on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Oppenheimer raised their price target on shares of Netflix from $825.00 to $1,065.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $824.30.

Netflix Trading Down 0.3 %

Shares of NFLX opened at $879.19 on Wednesday. The stock’s fifty day simple moving average is $871.62 and its 200 day simple moving average is $749.78. Netflix has a twelve month low of $472.95 and a twelve month high of $941.75. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $375.82 billion, a P/E ratio of 49.76, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, equities research analysts forecast that Netflix will post 19.78 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of Netflix stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the transaction, the chairman now owns 114 shares in the company, valued at approximately $101,241.12. This trade represents a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 150,761 shares of company stock worth $125,713,484. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Several large investors have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC bought a new stake in Netflix during the third quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Netflix in the 3rd quarter worth $37,000. FSA Wealth Management LLC acquired a new stake in shares of Netflix during the third quarter worth $38,000. Finally, First Personal Financial Services purchased a new stake in shares of Netflix during the third quarter valued at $40,000. 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.