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

Netflix (NASDAQ:NFLX) had its price objective upped by The Goldman Sachs Group from $850.00 to $960.00 in a report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the Internet television network’s stock.

Several other brokerages have also weighed in on NFLX. Robert W. Baird boosted their price objective on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday. Sanford C. Bernstein upped their price target on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Guggenheim lifted their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company increased their target price on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Seaport Res Ptn raised shares of 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 given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,009.29.

Netflix Price Performance

NFLX stock opened at $977.59 on Wednesday. The company has a market capitalization of $417.88 billion, a PE ratio of 49.30, a P/E/G ratio of 1.53 and a beta of 1.27. 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 stock’s 50 day moving average is $892.06 and its two-hundred day moving average is $764.95. Netflix has a 52-week low of $542.01 and a 52-week high of $999.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) 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 analysts’ expectations of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.11 earnings per share. Analysts predict that Netflix will post 23.72 earnings per share for the current fiscal year.

Insider Activity

In other Netflix news, Director Jay C. Hoag sold 617 shares of the firm’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction dated 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. Insiders sold 147,117 shares of company stock worth $123,913,691 over the last quarter. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several institutional investors and hedge funds have recently modified their holdings of NFLX. Epoch Investment Partners Inc. boosted its position in Netflix by 27.1% during the second quarter. Epoch Investment Partners Inc. now owns 544 shares of the Internet television network’s stock valued at $367,000 after purchasing an additional 116 shares during the last quarter. Mill Creek Capital Advisors LLC lifted its holdings in shares of Netflix by 24.8% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 433 shares of the Internet television network’s stock valued at $292,000 after buying an additional 86 shares during the last quarter. Clear Point Advisors Inc. grew its stake in shares of Netflix by 3.9% in the 2nd quarter. Clear Point Advisors Inc. now owns 449 shares of the Internet television network’s stock valued at $303,000 after buying an additional 17 shares in the last quarter. Insigneo Advisory Services LLC increased its holdings in Netflix by 10.6% in the second quarter. Insigneo Advisory Services LLC now owns 8,230 shares of the Internet television network’s stock worth $5,554,000 after buying an additional 786 shares during the last quarter. Finally, Fred Alger Management LLC lifted its stake in Netflix by 4.7% in the second quarter. Fred Alger Management LLC now owns 465,249 shares of the Internet television network’s stock valued at $313,987,000 after acquiring an additional 20,962 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other 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.