Evercore ISI Boosts Netflix (NASDAQ:NFLX) Price Target to $775.00

Netflix (NASDAQ:NFLX) had its price objective boosted by stock analysts at Evercore ISI from $750.00 to $775.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the Internet television network’s stock. Evercore ISI’s price target would suggest a potential upside of 2.75% from the stock’s previous close.

NFLX has been the subject of a number of other research reports. UBS Group upped their price objective on shares of Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday. Oppenheimer upped their price target on shares of Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research note on Friday. Benchmark reaffirmed a “sell” rating and set a $545.00 price target on shares of Netflix in a research note on Tuesday. Macquarie reaffirmed an “outperform” rating and set a $795.00 price target on shares of Netflix in a research note on Friday. Finally, Barclays reissued an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $738.18.

Netflix Stock Up 9.7 %

Shares of Netflix stock traded up $66.63 during trading hours on Friday, hitting $754.28. The company had a trading volume of 10,711,896 shares, compared to its average volume of 3,697,382. The company’s 50-day moving average is $693.78 and its two-hundred day moving average is $653.62. Netflix has a twelve month low of $392.26 and a twelve month high of $763.41. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $325.09 billion, a P/E ratio of 52.34, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating the consensus estimate of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. Netflix’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.29 EPS. Analysts anticipate that Netflix will post 19.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the transaction, the chairman now owns 85 shares in the company, valued at $60,023.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $19,128,159.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,167 shares of company stock worth $150,492,460. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently modified their holdings of the business. Heartland Bank & Trust Co boosted its position in shares of Netflix by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock valued at $1,195,000 after acquiring an additional 15 shares during the period. Meritas Wealth Management LLC boosted its position in shares of Netflix by 2.9% in the third quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock valued at $406,000 after acquiring an additional 16 shares during the period. Stage Harbor Financial LLC boosted its position in shares of Netflix by 4.8% in the third quarter. Stage Harbor Financial LLC now owns 346 shares of the Internet television network’s stock valued at $250,000 after acquiring an additional 16 shares during the period. Obermeyer Wood Investment Counsel Lllp boosted its position in shares of Netflix by 2.8% in the first quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock valued at $378,000 after acquiring an additional 17 shares during the period. Finally, Private Portfolio Partners LLC boosted its position in shares of Netflix by 1.7% in the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock valued at $633,000 after acquiring an additional 17 shares during the period. 80.93% of the stock is 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.