Bank of America Boosts Netflix (NASDAQ:NFLX) Price Target to $800.00

Netflix (NASDAQ:NFLX) had its target price boosted by research analysts at Bank of America from $740.00 to $800.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the Internet television network’s stock. Bank of America‘s price target would indicate a potential upside of 6.06% from the stock’s previous close.

Several other research analysts also recently weighed in on the company. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Redburn Atlantic upped their price target on Netflix from $740.00 to $760.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Wedbush upped their price objective on Netflix from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday. China Renaissance began coverage on Netflix in a research note on Thursday, September 5th. They set a “hold” rating and a $680.00 price target on the stock. Finally, The Goldman Sachs Group increased their target price on Netflix from $650.00 to $659.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $738.18.

Netflix Price Performance

NASDAQ NFLX traded up $66.63 during trading on Friday, hitting $754.28. 10,711,896 shares of the stock traded hands, compared to its average volume of 3,697,382. The company has a market capitalization of $325.09 billion, a P/E ratio of 52.34, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The firm has a 50-day simple moving average of $693.78 and a 200-day simple moving average of $653.62. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix has a 12-month low of $392.26 and a 12-month high of $763.41.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. Netflix’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the business posted $3.29 EPS. As a group, analysts predict that Netflix will post 19.08 EPS for the current year.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the transaction, the chairman now directly owns 57 shares in the company, valued at $35,991.51. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares of the company’s stock, valued at $35,991.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 225,167 shares of company stock worth $150,492,460. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Large investors have recently bought and sold shares of the company. Denver PWM LLC acquired a new position in shares of Netflix in the second quarter valued at approximately $25,000. Valued Wealth Advisors LLC boosted its holdings in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after buying an additional 20 shares during the period. Indiana Trust & Investment Management CO boosted its holdings in shares of Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares during the period. Proffitt & Goodson Inc. boosted its holdings in shares of Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares during the period. Finally, AlphaMark Advisors LLC boosted its holdings in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares during the period. Institutional investors own 80.93% of the company’s stock.

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.