Netflix (NASDAQ:NFLX) Price Target Raised to $1,300.00

Netflix (NASDAQ:NFLX) had its price objective hoisted by JPMorgan Chase & Co. from $1,230.00 to $1,300.00 in a research report sent to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the Internet television network’s stock.

Other analysts have also issued research reports about the company. Sanford C. Bernstein upped their price objective on Netflix from $1,200.00 to $1,390.00 and gave the company an “outperform” rating in a research note on Thursday. Macquarie upped their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Monday, April 21st. Loop Capital restated a “hold” rating on shares of Netflix in a research note on Tuesday, July 15th. Guggenheim restated a “buy” rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Finally, Oppenheimer upped their price objective on Netflix from $1,200.00 to $1,425.00 and gave the company an “outperform” rating in a research note on Thursday, June 12th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,291.41.

Netflix Stock Performance

NFLX opened at $1,209.24 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 $514.62 billion, a PE ratio of 51.52, a PEG ratio of 2.15 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.34. The business’s 50-day simple moving average is $1,232.59 and its 200 day simple moving average is $1,063.17.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 42.50% and a net margin of 24.58%. The business had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same quarter in the prior year, the company posted $4.88 earnings per share. Netflix’s revenue was up 15.9% on a year-over-year basis. As a group, sell-side analysts expect that Netflix will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, Director Strive Masiyiwa sold 290 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,336.54, for a total transaction of $387,596.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the sale, the chief financial officer owned 3,691 shares of the company’s stock, valued at $4,824,949.02. The trade was a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 186,563 shares of company stock valued at $223,147,201 over the last ninety days. 1.37% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Netflix

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CHURCHILL MANAGEMENT Corp lifted its stake in shares of Netflix by 15.3% in the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 38,067 shares of the Internet television network’s stock valued at $50,977,000 after acquiring an additional 5,040 shares during the last quarter. Wiser Wealth Management Inc lifted its stake in shares of Netflix by 8.6% in the 2nd quarter. Wiser Wealth Management Inc now owns 266 shares of the Internet television network’s stock valued at $356,000 after acquiring an additional 21 shares during the last quarter. EWA LLC lifted its stake in shares of Netflix by 7.2% in the 2nd quarter. EWA LLC now owns 746 shares of the Internet television network’s stock valued at $999,000 after acquiring an additional 50 shares during the last quarter. Tanager Wealth Management LLP lifted its stake in shares of Netflix by 3.2% in the 2nd quarter. Tanager Wealth Management LLP now owns 358 shares of the Internet television network’s stock valued at $479,000 after acquiring an additional 11 shares during the last quarter. Finally, Warren Street Wealth Advisors LLC lifted its stake in shares of Netflix by 3.4% in the 2nd quarter. Warren Street Wealth Advisors LLC now owns 855 shares of the Internet television network’s stock valued at $1,145,000 after acquiring an additional 28 shares during the last quarter. 80.93% of the stock is currently owned by 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.