Netflix (NASDAQ:NFLX) Price Target Raised to $390.00 at JPMorgan Chase & Co.

Netflix (NASDAQ:NFLX – Get Rating) had its price target hoisted by research analysts at JPMorgan Chase & Co. from $330.00 to $390.00 in a report issued on Friday, The Fly reports. The firm presently has an “overweight” rating on the Internet television network’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 13.87% from the company’s previous close.

Several other analysts have also issued reports on NFLX. Atlantic Securities raised Netflix from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $211.00 to $283.00 in a report on Wednesday, September 28th. Daiwa Capital Markets upgraded Netflix from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $226.00 to $330.00 in a research report on Tuesday, October 25th. Rosenblatt Securities upped their price objective on Netflix from $201.00 to $226.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 19th. Jefferies Financial Group upped their price objective on Netflix from $385.00 to $400.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Credit Suisse Group upped their price objective on Netflix from $263.00 to $271.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 19th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, Netflix presently has a consensus rating of “Hold” and an average price target of $338.47.

Netflix Stock Performance

NFLX opened at $342.50 on Friday. The firm has a market cap of $152.42 billion, a P/E ratio of 30.69, a price-to-earnings-growth ratio of 3.69 and a beta of 1.27. Netflix has a 52-week low of $162.71 and a 52-week high of $458.48. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.14 and a current ratio of 1.14. The business’s fifty day moving average is $304.91 and its 200-day moving average is $259.68.

Netflix (NASDAQ:NFLX – Get Rating) last released its earnings results on Thursday, January 19th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.30). The company had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.85 billion. Netflix had a return on equity of 27.64% and a net margin of 16.03%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period last year, the company posted $1.33 earnings per share. Sell-side analysts expect that Netflix will post 10.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Netflix

A number of hedge funds have recently added to or reduced their stakes in the company. DAVENPORT & Co LLC grew its stake in Netflix by 211.7% in the fourth quarter. DAVENPORT & Co LLC now owns 6,037 shares of the Internet television network’s stock valued at $1,780,000 after acquiring an additional 4,100 shares during the period. Lehman & Derafelo Financial Resources LLC acquired a new stake in Netflix in the fourth quarter valued at approximately $380,000. Fidelis Capital Partners LLC acquired a new stake in Netflix in the fourth quarter valued at approximately $341,000. Diligent Investors LLC grew its stake in Netflix by 14.0% in the fourth quarter. Diligent Investors LLC now owns 1,426 shares of the Internet television network’s stock valued at $420,000 after acquiring an additional 175 shares during the period. Finally, Veriti Management LLC grew its stake in Netflix by 14.4% in the fourth quarter. Veriti Management LLC now owns 7,133 shares of the Internet television network’s stock valued at $2,103,000 after acquiring an additional 896 shares during the period. Institutional investors and hedge funds own 77.26% of the company’s stock.

About Netflix

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Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.