Morgan Stanley Boosts Netflix (NASDAQ:NFLX) Price Target to $1,150.00

Netflix (NASDAQ:NFLX) had its price objective boosted by analysts at Morgan Stanley from $1,050.00 to $1,150.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the Internet television network’s stock. Morgan Stanley’s target price points to a potential upside of 16.77% from the stock’s current price.

Several other research analysts have also weighed in on NFLX. Oppenheimer dropped their price target on Netflix from $1,065.00 to $1,040.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 15th. Wells Fargo & Company increased their price target on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Loop Capital lowered their price objective on shares of Netflix from $950.00 to $925.00 and set a “hold” rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. upped their price objective on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Evercore ISI lifted their target price on shares of Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Netflix has an average rating of “Moderate Buy” and a consensus price target of $996.94.

Netflix Price Performance

NFLX stock opened at $984.86 on Wednesday. The firm has a 50-day moving average of $889.11 and a two-hundred day moving average of $763.41. The firm has a market capitalization of $420.99 billion, a PE ratio of 49.67, a P/E/G ratio of 1.41 and a beta of 1.27. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix has a one year low of $537.07 and a one year high of $999.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. During the same quarter in the prior year, the firm earned $2.11 EPS. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. On average, analysts forecast that Netflix will post 23.43 earnings per share for the current year.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $772.10, for a total transaction of $334,319.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,500 shares of company stock valued at $123,309,210. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently modified their holdings of NFLX. Custom Index Systems LLC raised its stake in Netflix by 3.7% during the fourth quarter. Custom Index Systems LLC now owns 1,569 shares of the Internet television network’s stock worth $1,398,000 after acquiring an additional 56 shares in the last quarter. Heck Capital Advisors LLC bought a new stake in shares of Netflix in the 4th quarter worth about $446,000. Austin Private Wealth LLC increased its position in shares of Netflix by 16.8% during the 4th quarter. Austin Private Wealth LLC now owns 834 shares of the Internet television network’s stock worth $743,000 after purchasing an additional 120 shares in the last quarter. Caprock Group LLC lifted its holdings in Netflix by 3.9% during the 4th quarter. Caprock Group LLC now owns 17,745 shares of the Internet television network’s stock valued at $15,817,000 after purchasing an additional 661 shares during the last quarter. Finally, New Wave Wealth Advisors LLC boosted its position in Netflix by 5.7% in the fourth quarter. New Wave Wealth Advisors LLC now owns 1,754 shares of the Internet television network’s stock valued at $1,563,000 after buying an additional 95 shares in the last quarter. 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.