Netflix (NASDAQ:NFLX) Price Target Raised to $1,450.00

Netflix (NASDAQ:NFLX) had its target price lifted by TD Cowen from $1,440.00 to $1,450.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a buy rating on the Internet television network’s stock.

A number of other brokerages also recently issued reports on NFLX. BMO Capital Markets reissued an “outperform” rating and set a $1,425.00 price target (up from $1,200.00) on shares of Netflix in a report on Tuesday, July 15th. Loop Capital restated a “hold” rating on shares of Netflix in a research report on Tuesday, July 15th. Canaccord Genuity Group reiterated a “buy” rating on shares of Netflix in a research report on Thursday, July 10th. Morgan Stanley increased their price objective on shares of Netflix from $1,450.00 to $1,500.00 and gave the company an “overweight” rating in a report on Friday. Finally, Sanford C. Bernstein lifted 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. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,291.41.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $1,209.24 on Friday. The stock has a market cap of $514.62 billion, a price-to-earnings ratio of 51.52, a PEG ratio of 2.15 and a beta of 1.59. Netflix has a 12 month low of $587.04 and a 12 month high of $1,341.15. The company has a 50 day simple moving average of $1,232.59 and a two-hundred day simple moving average of $1,063.17. The company has a current ratio of 1.34, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 42.50% and a net margin of 24.58%. The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business posted $4.88 EPS. As a group, analysts predict that Netflix will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In other Netflix news, Director Jay C. Hoag sold 31,750 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the sale, the director directly owned 63,040 shares in the company, valued at $78,948,144. This trade represents a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Reed Hastings sold 16,840 shares of the company’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $1,295.78, for a total value of $21,820,935.20. Following the transaction, the director directly owned 10,067 shares of the company’s stock, valued at approximately $13,044,617.26. This represents a 62.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 186,563 shares of company stock worth $223,147,201. Corporate insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several hedge funds have recently made changes to their positions in NFLX. Optima Capital LLC grew its position in shares of Netflix by 3.5% during the second quarter. Optima Capital LLC now owns 239 shares of the Internet television network’s stock worth $320,000 after acquiring an additional 8 shares during the last quarter. Unified Investment Management raised its holdings in shares of Netflix by 1.7% in the second quarter. Unified Investment Management now owns 474 shares of the Internet television network’s stock valued at $635,000 after buying an additional 8 shares during the last quarter. Plancorp LLC grew its holdings in shares of Netflix by 0.6% during the second quarter. Plancorp LLC now owns 1,278 shares of the Internet television network’s stock worth $1,711,000 after buying an additional 8 shares during the last quarter. Five Oceans Advisors increased its position in Netflix by 1.1% in the 2nd quarter. Five Oceans Advisors now owns 751 shares of the Internet television network’s stock valued at $1,006,000 after acquiring an additional 8 shares during the period. Finally, Old Port Advisors raised its stake in Netflix by 1.3% during the 2nd quarter. Old Port Advisors now owns 624 shares of the Internet television network’s stock valued at $836,000 after acquiring an additional 8 shares during the last quarter. Hedge funds and other institutional investors 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.