Netflix (NASDAQ:NFLX) Reaches New 1-Year High on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLXGet Free Report)’s stock price hit a new 52-week high during mid-day trading on Wednesday after Evercore ISI raised their price target on the stock from $650.00 to $700.00. Evercore ISI currently has an outperform rating on the stock. Netflix traded as high as $656.78 and last traded at $655.15, with a volume of 426674 shares traded. The stock had previously closed at $649.00.

Several other analysts also recently issued reports on NFLX. BMO Capital Markets reiterated an “outperform” rating and set a $713.00 price target (up previously from $638.00) on shares of Netflix in a research note on Wednesday, April 17th. Oppenheimer reaffirmed an “outperform” rating and set a $725.00 target price on shares of Netflix in a research report on Friday, April 19th. KeyCorp lifted their price target on shares of Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Canaccord Genuity Group downgraded shares of Netflix from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $720.00 to $585.00 in a report on Friday, April 19th. Finally, Citigroup raised their target price on shares of Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and an average target price of $632.00.

Check Out Our Latest Stock Analysis on NFLX

Insider Buying and Selling

In other Netflix news, CEO Gregory K. Peters sold 5,352 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,181,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Gregory K. Peters sold 5,352 shares of Netflix stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $8,181,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 18,494 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $611.22, for a total value of $11,303,902.68. Following the completion of the transaction, the chairman now directly owns 28 shares in the company, valued at $17,114.16. The disclosure for this sale can be found here. Insiders sold 68,545 shares of company stock worth $40,704,683 in the last 90 days. 1.76% of the stock is owned by company insiders.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Netflix by 0.4% in the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after purchasing an additional 149,341 shares in the last quarter. Capital World Investors raised its position in shares of Netflix by 0.7% during the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after acquiring an additional 78,320 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after acquiring an additional 929,193 shares during the period. Norges Bank acquired a new position in shares of Netflix during the fourth quarter valued at $2,558,598,000. Finally, Northern Trust Corp boosted its holdings in Netflix by 2.1% in the third quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock valued at $1,749,712,000 after acquiring an additional 96,938 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

Netflix Stock Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market capitalization of $282.14 billion, a price-to-earnings ratio of 45.43, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23. The stock has a 50-day moving average of $609.27 and a 200 day moving average of $554.14.

Netflix (NASDAQ:NFLXGet Free Report) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the previous year, the company earned $2.88 EPS. Netflix’s revenue was up 14.8% on a year-over-year basis. On average, analysts expect that Netflix, Inc. will post 18.31 EPS for the current year.

About Netflix

(Get Free Report)

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.

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