Netflix (NASDAQ:NFLX) Price Target Raised to $960.00 at The Goldman Sachs Group

Netflix (NASDAQ:NFLX) had its price objective hoisted by analysts at The Goldman Sachs Group from $850.00 to $960.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the Internet television network’s stock. The Goldman Sachs Group’s price objective suggests a potential downside of 2.52% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on NFLX. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $715.00 to $900.00 in a research note on Wednesday. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a report on Saturday, December 21st. Macquarie boosted their price objective on Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research note on Wednesday. Seaport Res Ptn raised Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $996.94.

Netflix Stock Performance

NFLX opened at $984.86 on Wednesday. The stock has a market capitalization of $420.99 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 1.41 and a beta of 1.27. Netflix has a fifty-two week low of $537.07 and a fifty-two week high of $999.00. 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 company has a fifty day moving average of $889.11 and a 200 day moving average of $763.41.

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

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 41,601 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $758.06, for a total value of $31,536,054.06. Following the sale, the chairman now directly owns 85 shares in the company, valued at approximately $64,435.10. This trade represents a 99.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 146,500 shares of company stock valued at $123,309,210. 1.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix during the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new stake in Netflix during the 3rd quarter worth approximately $37,000. FSA Wealth Management LLC acquired a new position in Netflix during the 3rd quarter valued at approximately $38,000. Finally, First Personal Financial Services acquired a new stake in shares of Netflix during the third quarter worth $40,000. 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.