Netflix (NASDAQ:NFLX) Price Target Raised to $1,150.00

Netflix (NASDAQ:NFLX) had its target price boosted by Morgan Stanley from $1,050.00 to $1,150.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the Internet television network’s stock.

Several other analysts have also recently weighed in on NFLX. BMO Capital Markets restated an “outperform” rating and set a $1,175.00 price target (up from $1,000.00) on shares of Netflix in a report on Wednesday. Jefferies Financial Group boosted their price target on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. boosted their price target on Netflix from $1,000.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Wednesday. Loop Capital reduced their price target on Netflix from $950.00 to $925.00 and set a “hold” rating on the stock in a report on Thursday, January 16th. Finally, Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $1,009.29.

Netflix Stock Performance

Netflix stock opened at $977.59 on Wednesday. Netflix has a 12-month low of $542.01 and a 12-month high of $999.00. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The business’s 50-day moving average price is $892.06 and its two-hundred day moving average price is $764.95. The stock has a market cap of $417.88 billion, a PE ratio of 49.30, a P/E/G ratio of 1.53 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.11 earnings per share. As a group, analysts expect that Netflix will post 23.72 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 147,117 shares of company stock valued at $123,913,691 over the last ninety days. 1.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Netflix

Several institutional investors have recently bought and sold shares of the stock. State Street Corp grew its holdings in Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares in the last quarter. Geode Capital Management LLC grew its holdings in Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares in the last quarter. Jennison Associates LLC grew its holdings in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares in the last quarter. International Assets Investment Management LLC grew its holdings in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after buying an additional 23,702 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

Netflix Company Profile

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.