Netflix (NASDAQ:NFLX) Price Target Increased to $800.00 by Analysts at Needham & Company LLC

Netflix (NASDAQ:NFLX) had its price target upped by Needham & Company LLC from $700.00 to $800.00 in a research note published on Friday morning, MarketBeat.com reports. They currently have a buy rating on the Internet television network’s stock.

Several other equities research analysts have also weighed in on the company. Evercore ISI upped their price objective on Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a research note on Tuesday, August 27th. Deutsche Bank Aktiengesellschaft increased their price objective on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. Oppenheimer increased their price target on Netflix from $725.00 to $775.00 and gave the company an “outperform” rating in a research note on Thursday, October 10th. UBS Group raised their price objective on Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Wedbush raised their price objective on Netflix from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $739.38.

Netflix Stock Performance

Shares of NFLX stock opened at $763.89 on Friday. Netflix has a 1-year low of $392.26 and a 1-year high of $766.28. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $329.24 billion, a price-to-earnings ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26. The stock’s fifty day simple moving average is $696.38 and its 200-day simple moving average is $654.66.

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

Insiders Place Their Bets

In other Netflix 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 sale, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was 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 approximately $25,741,260. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 225,167 shares of company stock valued at $150,492,460. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Large investors have recently modified their holdings of the business. RFG Advisory LLC grew its holdings in shares of Netflix by 24.7% in the first quarter. RFG Advisory LLC now owns 2,292 shares of the Internet television network’s stock valued at $1,392,000 after purchasing an additional 454 shares during the period. Meyer Handelman Co. grew its holdings in shares of Netflix by 0.8% in the first quarter. Meyer Handelman Co. now owns 3,358 shares of the Internet television network’s stock valued at $2,039,000 after purchasing an additional 25 shares during the period. Congress Asset Management Co. MA grew its holdings in shares of Netflix by 6.6% in the first quarter. Congress Asset Management Co. MA now owns 18,885 shares of the Internet television network’s stock valued at $11,469,000 after purchasing an additional 1,174 shares during the period. MJP Associates Inc. ADV purchased a new stake in shares of Netflix in the first quarter valued at about $360,000. Finally, &PARTNERS grew its holdings in shares of Netflix by 158.2% in the first quarter. &PARTNERS now owns 1,379 shares of the Internet television network’s stock valued at $838,000 after purchasing an additional 845 shares during the period. Hedge funds and other 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.