Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Netflix (NASDAQ:NFLX) had its price target boosted by stock analysts at Morgan Stanley from $1,450.00 to $1,500.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the Internet television network’s stock. Morgan Stanley’s target price points to a potential upside of 24.04% from the company’s previous close.

A number of other equities analysts have also issued reports on NFLX. Benchmark reiterated a “hold” rating on shares of Netflix in a research report on Monday, April 21st. Sanford C. Bernstein increased their target price on shares of Netflix from $1,200.00 to $1,390.00 and gave the company an “outperform” rating in a research report on Thursday. Moffett Nathanson reiterated a “buy” rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Guggenheim reiterated a “buy” rating and issued a $1,150.00 target price (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Finally, Citigroup reiterated a “neutral” rating and issued a $1,250.00 target price (up previously from $1,020.00) on shares of Netflix in a research report on Thursday, May 29th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $1,291.41.

Netflix Stock Down 5.1%

Shares of NASDAQ:NFLX opened at $1,209.24 on Friday. The stock has a market capitalization of $514.62 billion, a price-to-earnings ratio of 51.52, a price-to-earnings-growth ratio of 2.19 and a beta of 1.59. Netflix has a 1-year low of $587.04 and a 1-year high of $1,341.15. The company’s fifty day moving average is $1,232.59 and its two-hundred day moving average is $1,061.94. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. The business had revenue of $11.08 billion during the quarter, compared to analyst estimates of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 43.00%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.88 earnings per share. Equities analysts anticipate that Netflix will post 24.58 EPS for the current year.

Insider Activity at Netflix

In other Netflix news, Director Jay C. Hoag sold 32,515 shares of the business’s stock in a transaction 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 sale, the director owned 79,040 shares of the company’s stock, valued at $87,099,708.80. The trade was a 29.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Bradford L. Smith sold 3,919 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the completion of the sale, the director directly owned 7,969 shares in the company, valued at $8,959,227.94. This trade represents a 32.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,723 shares of company stock worth $223,307,201. 1.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Several large investors have recently made changes to their positions in NFLX. Brighton Jones LLC lifted its position in Netflix by 5.0% during the 4th quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network’s stock worth $4,804,000 after buying an additional 257 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network’s stock worth $912,000 after buying an additional 144 shares in the last quarter. BIP Wealth LLC lifted its position in Netflix by 23.8% during the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network’s stock worth $403,000 after buying an additional 87 shares in the last quarter. Northwest & Ethical Investments L.P. acquired a new position in Netflix during the 4th quarter worth about $4,674,000. Finally, Whittier Trust Co. lifted its position in Netflix by 1.1% during the 4th quarter. Whittier Trust Co. now owns 4,047 shares of the Internet television network’s stock worth $3,607,000 after buying an additional 45 shares in the last quarter. Institutional investors 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.