Netflix (NASDAQ:NFLX) Price Target Raised to $1,150.00

Netflix (NASDAQ:NFLX) had its target price lifted by JPMorgan Chase & Co. from $1,000.00 to $1,150.00 in a research note released on Wednesday,Benzinga reports. They currently have an overweight rating on the Internet television network’s stock.

Several other equities analysts have also recently issued reports on the company. Morgan Stanley boosted their target price on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. BMO Capital Markets reiterated an “outperform” rating and set a $1,175.00 target price (up previously from $1,000.00) on shares of Netflix in a research report on Wednesday. UBS Group boosted their target price on Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Loop Capital dropped their target price on Netflix from $950.00 to $925.00 and set a “hold” rating on the stock in a research report on Thursday, January 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and an average price target of $1,009.29.

Netflix Stock Performance

Shares of NFLX stock opened at $977.59 on Wednesday. The stock has a market capitalization of $417.88 billion, a PE ratio of 49.30, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. Netflix has a 52-week low of $542.01 and a 52-week high of $999.00. The stock’s 50-day moving average price is $892.06 and its 200 day moving average price is $764.95. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a return on equity of 38.32% 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 quarter in the previous year, the firm posted $2.11 EPS. As a group, equities research analysts forecast that Netflix will post 23.72 EPS for the current year.

Insider Transactions at Netflix

In other news, Director Jay C. Hoag sold 617 shares of the company’s stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,117 shares of company stock worth $123,913,691 in the last ninety days. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC bought a new position in shares of Netflix during the third quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Netflix by 700.0% in 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. bought a new position in Netflix in the third quarter worth about $37,000. FSA Wealth Management LLC bought a new position in Netflix in the third quarter worth about $38,000. Finally, First Personal Financial Services bought a new position in Netflix in the third quarter worth about $40,000. 80.93% of the stock is 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.