Macquarie Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX) had its target price hoisted by stock analysts at Macquarie from $965.00 to $1,150.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the Internet television network’s stock. Macquarie’s target price indicates a potential upside of 16.77% from the company’s previous close.

Other analysts also recently issued reports about the stock. Evercore ISI boosted their target price on shares of Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Robert W. Baird boosted their price target on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Wednesday. UBS Group boosted their target price on Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Wells Fargo & Company increased their price target on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, TD Cowen boosted their price objective on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Ten research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus target price of $996.94.

Netflix Stock Up 3.2 %

NFLX stock opened at $984.86 on Wednesday. The company has a 50 day moving average of $889.11 and a two-hundred day moving average of $763.41. The company has a market cap of $420.99 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 1.41 and a beta of 1.27. Netflix has a 12-month low of $537.07 and a 12-month 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 posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 39.48%. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business posted $2.11 earnings per share. On average, equities analysts anticipate that Netflix will post 23.43 earnings per share for the current fiscal year.

Insider Activity

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 transaction of $8,405,776.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 41,601 shares of the firm’s stock in a transaction 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 sale, the chairman now directly owns 85 shares of the company’s stock, valued at $64,435.10. This represents a 99.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,500 shares of company stock worth $123,309,210. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently made changes to their positions in NFLX. RPg Family Wealth Advisory LLC acquired a new stake in Netflix in the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. grew its stake 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 valued at $34,000 after purchasing an additional 42 shares during the last quarter. Decker Retirement Planning Inc. acquired a new stake in shares of Netflix in the fourth quarter valued at approximately $43,000. EMC Capital Management bought a new position in Netflix in the 4th quarter worth approximately $45,000. Finally, MidAtlantic Capital Management Inc. acquired a new position in Netflix during the 3rd quarter worth $37,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.