Robert W. Baird Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its price objective lifted by equities researchers at Robert W. Baird from $875.00 to $1,200.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the Internet television network’s stock. Robert W. Baird’s price objective indicates a potential upside of 37.98% from the stock’s previous close.

A number of other analysts also recently weighed in on NFLX. Pivotal Research increased their price objective on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Benchmark increased their price target on Netflix from $555.00 to $720.00 and gave the company a “sell” rating in a research note on Friday, January 3rd. TD Cowen lifted their price objective on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Wolfe Research reissued an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Finally, Wells Fargo & Company boosted 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $952.30.

Netflix Stock Performance

Shares of NFLX stock opened at $869.68 on Wednesday. The firm has a market capitalization of $371.75 billion, a price-to-earnings ratio of 49.22, a PEG ratio of 1.40 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. The business’s 50-day moving average price is $885.64 and its 200-day moving average price is $760.81. Netflix has a 12 month low of $479.90 and a 12 month high of $941.75.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. During the same period last year, the company earned $2.11 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. Equities research analysts forecast that Netflix will post 19.76 EPS for the current year.

Insider Buying and Selling at Netflix

In related news, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard N. Barton sold 5,698 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the completion of the transaction, the director now owns 246 shares in the company, valued at approximately $185,976. The trade was a 95.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,198 shares of company stock worth $127,616,898. Insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several hedge funds have recently made changes to their positions in the company. State Street Corp increased its holdings in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after purchasing an additional 123,029 shares in the last quarter. Jennison Associates LLC raised its position in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares during the period. International Assets Investment Management LLC raised its position in shares of Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after buying an additional 23,702 shares in the last quarter. 80.93% of the stock is currently owned by 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.