Oppenheimer Raises Netflix (NASDAQ:NFLX) Price Target to $450.00

Netflix (NASDAQ:NFLX – Get Rating) had its price target raised by Oppenheimer from $415.00 to $450.00 in a report issued on Wednesday morning, The Fly reports.

NFLX has been the subject of several other reports. Wedbush reaffirmed an outperform rating on shares of Netflix in a research report on Thursday, April 13th. TheStreet raised Netflix from a c rating to a b- rating in a research report on Tuesday, April 18th. Pivotal Research upped their price objective on Netflix from $400.00 to $425.00 and gave the stock a buy rating in a research report on Wednesday, April 19th. Jefferies Financial Group reduced their price objective on Netflix from $415.00 to $405.00 and set a buy rating for the company in a research report on Wednesday, April 19th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Netflix from $400.00 to $410.00 and gave the stock a buy rating in a research report on Wednesday, April 19th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, Netflix has an average rating of Moderate Buy and a consensus target price of $348.75.

Netflix Stock Up 2.5 %

Shares of Netflix stock opened at $364.85 on Wednesday. Netflix has a 1 year low of $164.28 and a 1 year high of $379.43. The business has a 50-day moving average of $332.66 and a two-hundred day moving average of $322.23. The company has a market capitalization of $162.19 billion, a P/E ratio of 39.23, a price-to-earnings-growth ratio of 1.44 and a beta of 1.27. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 1.26.

Netflix (NASDAQ:NFLX – Get Rating) last announced its quarterly earnings results on Tuesday, April 18th. The Internet television network reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.83 by $0.05. Netflix had a return on equity of 20.43% and a net margin of 13.16%. The company had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.18 billion. During the same period in the prior year, the company earned $3.53 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, equities analysts predict that Netflix will post 11.19 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, Director Timothy M. Haley sold 7,147 shares of the firm’s stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $334.28, for a total transaction of $2,389,099.16. Following the transaction, the director now owns 86 shares in the company, valued at approximately $28,748.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Netflix news, Chairman Reed Hastings sold 26,278 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $323.96, for a total value of $8,513,020.88. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Timothy M. Haley sold 7,147 shares of the firm’s stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $334.28, for a total value of $2,389,099.16. Following the completion of the sale, the director now directly owns 86 shares in the company, valued at approximately $28,748.08. The disclosure for this sale can be found here. Corporate insiders own 2.45% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of large investors have recently modified their holdings of NFLX. Mizuho Markets Americas LLC boosted its holdings in shares of Netflix by 11,985.6% in the 1st quarter. Mizuho Markets Americas LLC now owns 7,000,000 shares of the Internet television network’s stock valued at $56,700,000 after purchasing an additional 6,942,080 shares in the last quarter. Norges Bank acquired a new stake in shares of Netflix during the 4th quarter valued at $1,501,762,000. Jennison Associates LLC boosted its holdings in shares of Netflix by 111.4% during the 4th quarter. Jennison Associates LLC now owns 5,499,391 shares of the Internet television network’s stock valued at $1,621,660,000 after acquiring an additional 2,898,263 shares in the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in shares of Netflix by 117,939.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 2,742,048 shares of the Internet television network’s stock valued at $808,575,000 after acquiring an additional 2,739,725 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Netflix by 21.2% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 11,405,142 shares of the Internet television network’s stock valued at $2,690,289,000 after acquiring an additional 1,991,099 shares in the last quarter. Institutional investors and hedge funds own 77.26% of the company’s stock.

About Netflix

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Netflix, Inc engages in providing entertainment services. It also offers a broad set of activities for leisure time, entertainment video, video gaming, and other sources of entertainment. It operates through the United States and International geographic segments. The company was founded by Marc Randolph and Wilmot Reed Hastings on August 29, 1997 and is headquartered in Los Gatos, CA.