JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX) had its price objective raised by JPMorgan Chase & Co. from $850.00 to $1,010.00 in a research note published on Wednesday morning, MarketBeat reports. The firm currently has an overweight rating on the Internet television network’s stock.

NFLX has been the topic of a number of other reports. Bank of America raised their price objective on Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. TD Cowen lifted their price target on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. UBS Group increased their price objective on shares of Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. China Renaissance initiated coverage on shares of Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 target price on the stock. Finally, StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average target price of $787.85.

Netflix Price Performance

Netflix stock opened at $918.87 on Wednesday. Netflix has a 1 year low of $461.86 and a 1 year high of $941.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a 50 day moving average price of $814.02 and a 200 day moving average price of $719.34. The company has a market cap of $392.78 billion, a price-to-earnings ratio of 52.00, a PEG ratio of 1.80 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Sell-side analysts predict that Netflix will post 19.78 earnings per share for the current year.

Insider Transactions at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,392 shares of the business’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $9,490,250. The trade was a 25.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 165,405 shares of company stock worth $129,623,487. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lord Abbett & CO. LLC raised its stake in shares of Netflix by 20.0% in the 3rd quarter. Lord Abbett & CO. LLC now owns 291,259 shares of the Internet television network’s stock worth $206,581,000 after buying an additional 48,538 shares in the last quarter. DGS Capital Management LLC raised its position in Netflix by 5.2% in the third quarter. DGS Capital Management LLC now owns 1,931 shares of the Internet television network’s stock worth $1,370,000 after acquiring an additional 95 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of Netflix in the 3rd quarter worth approximately $21,594,000. American Trust bought a new stake in shares of Netflix in the 3rd quarter worth approximately $323,000. Finally, Old North State Trust LLC lifted its stake in Netflix by 3.2% during the third quarter. Old North State Trust LLC now owns 699 shares of the Internet television network’s stock valued at $496,000 after purchasing an additional 22 shares during 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.