Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Netflix (NASDAQ:NFLX) had its target price hoisted by Robert W. Baird from $1,200.00 to $1,300.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the Internet television network’s stock. Robert W. Baird’s price objective points to a potential upside of 9.10% from the company’s current price.

Several other equities analysts also recently issued reports on NFLX. Bank of America upped their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Pivotal Research increased their target price on shares of Netflix from $1,250.00 to $1,350.00 and gave the stock a “buy” rating in a research note on Monday, April 21st. Deutsche Bank Aktiengesellschaft upped their price objective on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research note on Wednesday, January 22nd. Benchmark reiterated a “hold” rating on shares of Netflix in a research note on Monday, April 21st. Finally, Macquarie upped their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Monday, April 21st. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,093.39.

Netflix Price Performance

Netflix stock opened at $1,191.53 on Friday. The company has a fifty day simple moving average of $1,009.34 and a 200-day simple moving average of $946.93. The firm has a market capitalization of $507.08 billion, a price-to-earnings ratio of 60.09, a PEG ratio of 2.12 and a beta of 1.58. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix has a 52-week low of $587.04 and a 52-week high of $1,196.50.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period last year, the company earned $8.28 EPS. On average, equities analysts anticipate that Netflix will post 24.58 EPS for the current fiscal year.

Insider Activity

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $982.05, for a total transaction of $2,554,312.05. Following the sale, the chief financial officer now owns 3,691 shares in the company, valued at $3,624,746.55. This represents a 41.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jay C. Hoag sold 32,515 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the sale, the director now owns 79,040 shares of the company’s stock, valued at $87,099,708.80. This trade represents a 29.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 132,868 shares of company stock worth $138,483,256 over the last 90 days. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of large investors have recently modified their holdings of NFLX. Janus Henderson Group PLC raised its position in shares of Netflix by 8.7% during the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network’s stock worth $1,227,468,000 after purchasing an additional 110,432 shares during the period. First National Trust Co raised its position in shares of Netflix by 1.0% in the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after purchasing an additional 12 shares during the period. Haven Private LLC acquired a new stake in Netflix in the 4th quarter valued at approximately $733,000. Sigma Planning Corp boosted its holdings in Netflix by 7.4% in the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock valued at $4,966,000 after purchasing an additional 386 shares during the period. Finally, Quilter Plc increased its stake in Netflix by 8.2% during the fourth quarter. Quilter Plc now owns 143,757 shares of the Internet television network’s stock valued at $128,133,000 after acquiring an additional 10,946 shares during the period. Institutional investors and hedge funds 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.