Oppenheimer Lowers Netflix (NASDAQ:NFLX) Price Target to $1,040.00

Netflix (NASDAQ:NFLX) had its price target cut by research analysts at Oppenheimer from $1,065.00 to $1,040.00 in a report issued on Wednesday. The brokerage currently has an “outperform” rating on the Internet television network’s stock. Oppenheimer’s price target would suggest a potential upside of 25.54% from the stock’s current price.

Several other brokerages also recently issued reports on NFLX. Wells Fargo & Company upped their target price on shares of Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Needham & Company LLC boosted their price objective on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Bank of America increased their target price on Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Barclays boosted their price target on Netflix from $550.00 to $715.00 and gave the stock an “underweight” rating in a research note on Tuesday. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $845.82.

Netflix Stock Performance

Netflix stock opened at $828.40 on Wednesday. The stock’s 50 day moving average is $881.04 and its 200 day moving average is $755.96. The company has a market capitalization of $354.11 billion, a P/E ratio of 46.88, a PEG ratio of 1.77 and a beta of 1.27. Netflix has a twelve month low of $475.26 and a twelve month high of $941.75. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, equities research analysts predict that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of the firm’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,742 shares of company stock valued at $131,030,268 over the last three months. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

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