Netflix (NASDAQ:NFLX) Given New $685.00 Price Target at Macquarie

Netflix (NASDAQ:NFLX) had its target price hoisted by Macquarie from $595.00 to $685.00 in a research note issued to investors on Tuesday morning, Benzinga reports. Macquarie currently has an outperform rating on the Internet television network’s stock.

A number of other analysts also recently commented on the company. Robert W. Baird raised their price objective on Netflix from $500.00 to $600.00 and gave the stock an outperform rating in a research report on Wednesday, January 24th. Guggenheim lifted their price objective on Netflix from $500.00 to $600.00 and gave the company a buy rating in a research report on Wednesday, January 24th. Bank of America lifted their price objective on Netflix from $585.00 to $650.00 and gave the company a buy rating in a research report on Wednesday, January 24th. Piper Sandler lifted their price objective on Netflix from $550.00 to $600.00 and gave the company a neutral rating in a research report on Friday, April 12th. Finally, UBS Group lifted their price objective on Netflix from $570.00 to $685.00 and gave the company a buy rating in a research report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $630.58.

Netflix Stock Performance

NFLX opened at $555.04 on Tuesday. The firm has a market capitalization of $240.20 billion, a P/E ratio of 46.21, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. The stock’s 50 day moving average price is $605.65 and its two-hundred day moving average price is $513.07. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix has a 12-month low of $315.62 and a 12-month high of $639.00.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same quarter last year, the firm posted $2.88 EPS. The company’s revenue was up 14.8% on a year-over-year basis. On average, equities analysts forecast that Netflix will post 17.05 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 5,352 shares of Netflix stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,181,250. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Gregory K. Peters sold 5,352 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $625.00, for a total value of $3,345,000.00. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,181,250. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gregory K. Peters sold 13,655 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total value of $7,425,589.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at $7,118,342. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 268,335 shares of company stock worth $151,619,811. Corporate insiders own 2.45% of the company’s stock.

Institutional Trading of Netflix

A number of institutional investors have recently modified their holdings of the company. KFA Private Wealth Group LLC lifted its holdings in shares of Netflix by 1.9% in the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock valued at $466,000 after purchasing an additional 18 shares in the last quarter. Legacy Capital Group California Inc. raised its holdings in Netflix by 0.6% during the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock worth $1,379,000 after acquiring an additional 18 shares in the last quarter. Founders Financial Alliance LLC raised its holdings in Netflix by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after acquiring an additional 18 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in Netflix by 4.6% during the first quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock worth $250,000 after acquiring an additional 18 shares in the last quarter. Finally, Addison Advisors LLC raised its holdings in Netflix by 7.8% during the fourth quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock worth $134,000 after acquiring an additional 20 shares in the last quarter. 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.