JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $1,220.00 to $1,230.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the Internet television network’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential downside of 1.21% from the stock’s previous close.

A number of other equities research analysts have also issued reports on the stock. Macquarie upped their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Moffett Nathanson reissued a “buy” rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Bank of America upped their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a “buy” rating in a report on Friday, May 30th. Phillip Securities raised shares of Netflix from a “moderate sell” rating to a “hold” rating in a report on Monday, April 21st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $1,200.00 price objective (up previously from $1,175.00) on shares of Netflix in a report on Friday, April 18th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $1,214.52.

Netflix Price Performance

Netflix stock opened at $1,245.11 on Friday. Netflix has a 52-week low of $587.04 and a 52-week high of $1,341.15. The firm has a market capitalization of $529.88 billion, a price-to-earnings ratio of 58.84, a PEG ratio of 2.26 and a beta of 1.59. The company has a fifty day simple moving average of $1,221.70 and a 200-day simple moving average of $1,049.85. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last released 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. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the prior year, the firm earned $8.28 earnings per share. On average, equities analysts anticipate that Netflix will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Director Strive Masiyiwa sold 290 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $1,336.54, for a total transaction of $387,596.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jeffrey William Karbowski sold 620 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $1,286.84, for a total transaction of $797,840.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 186,723 shares of company stock valued at $223,307,201. Corporate insiders own 1.37% of the company’s stock.

Institutional Trading of Netflix

Hedge funds have recently added to or reduced their stakes in the company. Halbert Hargrove Global Advisors LLC raised its holdings in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 13 shares in the last quarter. Brown Shipley& Co Ltd acquired a new stake in Netflix in the fourth quarter valued at approximately $27,000. Ransom Advisory Ltd purchased a new position in Netflix in the second quarter valued at approximately $47,000. Transce3nd LLC purchased a new position in Netflix in the fourth quarter valued at approximately $32,000. Finally, Flaharty Asset Management LLC purchased a new position in Netflix in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.