Netflix (NASDAQ:NFLX) Given New $700.00 Price Target at Guggenheim

Netflix (NASDAQ:NFLX) had its price target boosted by Guggenheim from $600.00 to $700.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the Internet television network’s stock.

NFLX has been the subject of a number of other research reports. UBS Group boosted their price target on shares of Netflix from $570.00 to $685.00 and gave the company a buy rating in a research note on Tuesday, February 27th. Bank of America upped their target price on shares of Netflix from $585.00 to $650.00 and gave the stock a buy rating in a research note on Wednesday, January 24th. Sanford C. Bernstein upped their target price on shares of Netflix from $390.00 to $490.00 and gave the stock a market perform rating in a research note on Wednesday, January 24th. Seaport Res Ptn lowered shares of Netflix from a buy rating to a neutral rating in a research note on Tuesday, January 30th. Finally, Evercore ISI upped their target price on shares of Netflix from $600.00 to $640.00 and gave the stock an outperform rating in a research note on Thursday, March 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Netflix has an average rating of Moderate Buy and a consensus price target of $603.48.

Netflix Stock Up 1.7 %

Netflix stock opened at $617.52 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix has a 12-month low of $315.62 and a 12-month high of $639.00. The firm’s fifty day moving average is $603.65 and its 200 day moving average is $510.44. The company has a market capitalization of $267.24 billion, a PE ratio of 51.42, a PEG ratio of 1.69 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The business had revenue of $8.83 billion for the quarter, compared to the consensus estimate of $8.72 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.12 EPS. As a group, sell-side analysts predict that Netflix will post 17.02 EPS for the current fiscal year.

Insider Transactions at Netflix

In other news, Director Ann Mather sold 3,673 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $2,203,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the sale, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at $717,379.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ann Mather sold 3,673 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total transaction of $2,203,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Netflix

Institutional investors and hedge funds have recently bought and sold shares of the stock. Indiana Trust & Investment Management CO raised its stake in Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares in the last quarter. VitalStone Financial LLC raised its stake in Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares in the last quarter. Aspect Partners LLC purchased a new stake in Netflix in the fourth quarter valued at approximately $32,000. Scarborough Advisors LLC purchased a new stake in Netflix in the fourth quarter valued at approximately $32,000. Finally, Authentikos Wealth Advisory LLC purchased a new stake in Netflix in the third quarter valued at approximately $25,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.