Netflix (NASDAQ:NFLX) Given New $1,100.00 Price Target at Guggenheim

Netflix (NASDAQ:NFLX) had its price target increased by equities researchers at Guggenheim from $950.00 to $1,100.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the Internet television network’s stock. Guggenheim’s price objective would suggest a potential upside of 11.84% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on the company. Robert W. Baird upped their price target on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday. Argus upped their target price on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Evercore ISI upped their target price on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Wednesday. Jefferies Financial Group upped their target price on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Finally, Wedbush reissued an “outperform” rating and set a $950.00 price target (up previously from $800.00) on shares of Netflix in a research note on Monday, November 18th. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given 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 $976.55.

Netflix Stock Up 13.1 %

NASDAQ NFLX traded up $113.85 during trading on Wednesday, reaching $983.53. 4,222,143 shares of the company’s stock were exchanged, compared to its average volume of 3,597,309. Netflix has a 1 year low of $481.40 and a 1 year 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 stock has a market cap of $420.42 billion, a P/E ratio of 55.56, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The company has a 50 day moving average price of $886.64 and a two-hundred day moving average price of $762.07.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. During the same quarter in the previous year, the firm posted $2.11 EPS. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. On average, equities research analysts anticipate that Netflix will post 19.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 6,364 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the sale, the director now owns 246 shares of the company’s stock, valued at $216,327.48. This trade represents a 96.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 152,198 shares of company stock worth $127,616,898 over the last ninety days. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Large investors have recently added to or reduced their stakes in the company. DigitalBridge Group Inc. raised its stake in Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares during the period. Nordea Investment Management AB increased its stake in shares of Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after acquiring an additional 156,958 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Netflix by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after acquiring an additional 29,726 shares during the last quarter. Natixis Advisors LLC increased its stake in shares of Netflix by 2.0% in the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after acquiring an additional 11,921 shares during the last quarter. Finally, M&T Bank Corp increased its stake in shares of Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after acquiring an additional 1,684 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.