Netflix (NASDAQ:NFLX) Given New $800.00 Price Target at Bank of America

Netflix (NASDAQ:NFLX) had its price target boosted by Bank of America from $740.00 to $800.00 in a research note published on Friday, Benzinga reports. The firm currently has a buy rating on the Internet television network’s stock.

NFLX has been the subject of a number of other research reports. Benchmark restated a “sell” rating and issued a $545.00 price target on shares of Netflix in a research report on Tuesday. Rosenblatt Securities upped their price target on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research report on Friday. Guggenheim upped their price target on Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. upped their price target on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research report on Friday. Finally, Pivotal Research upped their price target on Netflix from $900.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $739.38.

Netflix Stock Up 11.1 %

Netflix stock opened at $763.89 on Friday. The stock has a market cap of $329.24 billion, a PE ratio of 53.01, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. Netflix has a one year low of $392.26 and a one year high of $766.28. The stock has a fifty day moving average of $696.38 and a 200 day moving average of $654.66.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. Netflix’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.29 earnings per share. As a group, sell-side analysts predict that Netflix will post 19.08 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Netflix news, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 225,167 shares of company stock valued at $150,492,460. 1.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently modified their holdings of the stock. Denver PWM LLC acquired a new position in shares of Netflix in the 2nd quarter valued at about $25,000. Valued Wealth Advisors LLC lifted its holdings in shares of Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after buying an additional 20 shares during the period. Proffitt & Goodson Inc. lifted its holdings in shares of Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares during the period. AlphaMark Advisors LLC lifted its holdings in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares during the period. Finally, Indiana Trust & Investment Management CO increased its stake in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares in the last quarter. 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.