Evercore ISI Increases Netflix (NASDAQ:NFLX) Price Target to $950.00

Netflix (NASDAQ:NFLX) had its price objective raised by equities researchers at Evercore ISI from $775.00 to $950.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the Internet television network’s stock. Evercore ISI’s price target suggests a potential upside of 7.13% from the company’s current price.

A number of other research firms have also weighed in on NFLX. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Loop Capital lifted their price objective on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their target price on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Needham & Company LLC raised their target price on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Guggenheim boosted their price target on shares of Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Two investment 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’s stock. According to data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average price target of $770.12.

Netflix Stock Performance

NASDAQ NFLX opened at $886.81 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s 50 day simple moving average is $773.01 and its 200-day simple moving average is $700.75. The company has a market cap of $379.08 billion, a PE ratio of 50.19, a price-to-earnings-growth ratio of 1.71 and a beta of 1.25. Netflix has a 1-year low of $445.73 and a 1-year high of $908.00.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, equities research analysts anticipate that Netflix will post 19.78 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 25,074 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the sale, the chairman now directly owns 85 shares in the company, valued at approximately $57,878.20. This trade represents a 99.66 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Insiders sold 185,866 shares of company stock worth $133,393,921 over the last 90 days. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Several institutional investors have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix during the 3rd quarter worth approximately $25,000. Denver PWM LLC purchased a new stake in Netflix in the second quarter valued at $25,000. Proffitt & Goodson Inc. boosted its stake in Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Netflix by 700.0% during the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the last quarter. Finally, AlphaMark Advisors LLC increased its position in shares of Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares in 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.