Netflix (NASDAQ:NFLX) Given New $1,175.00 Price Target at Bank of America

Netflix (NASDAQ:NFLXFree Report) had its price target increased by Bank of America from $1,000.00 to $1,175.00 in a research report report published on Wednesday,Benzinga reports. Bank of America currently has a buy rating on the Internet television network’s stock.

A number of other research analysts have also weighed in on the company. BMO Capital Markets reissued an “outperform” rating and issued a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a report on Wednesday. Needham & Company LLC increased their price objective on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Robert W. Baird upped their target price on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Wednesday. Sanford C. Bernstein upped their target price on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, Citigroup upped their target price on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus target price of $1,009.29.

View Our Latest Research Report on NFLX

Netflix Stock Down 0.7 %

Netflix stock opened at $977.59 on Wednesday. The business’s 50-day simple moving average is $892.06 and its two-hundred day simple moving average is $764.95. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22. The company has a market cap of $417.88 billion, a PE ratio of 49.30, a PEG ratio of 1.53 and a beta of 1.27. Netflix has a fifty-two week low of $542.01 and a fifty-two week high of $999.00.

Netflix (NASDAQ:NFLXGet Free Report) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company earned $2.11 earnings per share. Equities analysts anticipate that Netflix will post 23.72 EPS for the current year.

Insider Activity at Netflix

In related news, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Reed Hastings sold 41,601 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $758.06, for a total value of $31,536,054.06. Following the completion of the sale, the chairman now directly owns 85 shares of the company’s stock, valued at approximately $64,435.10. This represents a 99.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,117 shares of company stock valued at $123,913,691. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. Epoch Investment Partners Inc. increased its stake in Netflix by 27.1% during the second quarter. Epoch Investment Partners Inc. now owns 544 shares of the Internet television network’s stock worth $367,000 after acquiring an additional 116 shares during the last quarter. Mill Creek Capital Advisors LLC increased its stake in Netflix by 24.8% during the second quarter. Mill Creek Capital Advisors LLC now owns 433 shares of the Internet television network’s stock worth $292,000 after acquiring an additional 86 shares during the last quarter. Clear Point Advisors Inc. increased its stake in Netflix by 3.9% during the second quarter. Clear Point Advisors Inc. now owns 449 shares of the Internet television network’s stock worth $303,000 after acquiring an additional 17 shares during the last quarter. Insigneo Advisory Services LLC increased its stake in Netflix by 10.6% during the second quarter. Insigneo Advisory Services LLC now owns 8,230 shares of the Internet television network’s stock worth $5,554,000 after acquiring an additional 786 shares during the last quarter. Finally, Fred Alger Management LLC increased its stake in Netflix by 4.7% during the second quarter. Fred Alger Management LLC now owns 465,249 shares of the Internet television network’s stock worth $313,987,000 after acquiring an additional 20,962 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

About Netflix

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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.

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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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