Netflix (NASDAQ:NFLX) Price Target Raised to $960.00

Netflix (NASDAQ:NFLX) had its target price raised by research analysts at The Goldman Sachs Group from $850.00 to $960.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “neutral” rating on the Internet television network’s stock. The Goldman Sachs Group’s price objective suggests a potential downside of 0.03% from the company’s previous close.

NFLX has been the subject of a number of other research reports. KeyCorp boosted their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the stock an “overweight” rating in a research note on Wednesday. Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Oppenheimer increased their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday. Barclays raised Netflix from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $715.00 to $900.00 in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $984.42.

Netflix Price Performance

NASDAQ NFLX traded up $90.60 during trading hours on Wednesday, reaching $960.28. The company’s stock had a trading volume of 9,960,949 shares, compared to its average volume of 4,214,347. The company has a market capitalization of $410.48 billion, a price-to-earnings ratio of 54.36, a PEG ratio of 1.40 and a beta of 1.27. The firm’s 50-day moving average price is $886.64 and its 200-day moving average price is $762.07. Netflix has a 1 year low of $481.40 and a 1 year high of $999.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.11 EPS. On average, equities research analysts predict that Netflix will post 19.76 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard N. Barton sold 6,364 shares of Netflix stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the sale, the director now owns 246 shares in the company, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 152,198 shares of company stock valued at $127,616,898. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of hedge funds have recently added to or reduced their stakes in the stock. Kavar Capital Partners Group LLC boosted its stake in Netflix by 3.4% during the 4th quarter. Kavar Capital Partners Group LLC now owns 1,011 shares of the Internet television network’s stock valued at $901,000 after purchasing an additional 33 shares during the period. Webster Bank N. A. grew its holdings in Netflix by 1.3% in the 4th quarter. Webster Bank N. A. now owns 2,471 shares of the Internet television network’s stock worth $2,202,000 after buying an additional 31 shares in the last quarter. United Asset Strategies Inc. increased its position in Netflix by 2.6% in the 4th quarter. United Asset Strategies Inc. now owns 2,517 shares of the Internet television network’s stock valued at $2,243,000 after acquiring an additional 64 shares during the period. waypoint wealth counsel raised its stake in Netflix by 3.5% during the 4th quarter. waypoint wealth counsel now owns 539 shares of the Internet television network’s stock valued at $480,000 after acquiring an additional 18 shares in the last quarter. Finally, KBC Group NV boosted its position in Netflix by 226.3% during the 4th quarter. KBC Group NV now owns 399,186 shares of the Internet television network’s stock worth $355,803,000 after acquiring an additional 276,865 shares during the period. 80.93% of the stock is currently owned by institutional investors.

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.