Macquarie Increases Netflix (NASDAQ:NFLX) Price Target to $685.00

Netflix (NASDAQ:NFLX) had its price target hoisted by analysts at Macquarie from $595.00 to $685.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the Internet television network’s stock. Macquarie’s target price would indicate a potential upside of 11.62% from the stock’s previous close.

Several other equities analysts also recently weighed in on NFLX. Citigroup raised their target price on Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research report on Monday, March 25th. DZ Bank raised Netflix from a “hold” rating to a “buy” rating and set a $600.00 price target for the company in a report on Thursday, January 25th. KeyCorp increased their price target on Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Morgan Stanley increased their price target on Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, Barclays increased their price target on Netflix from $475.00 to $550.00 and gave the company an “equal weight” rating in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $614.28.

Netflix Stock Performance

NASDAQ NFLX opened at $613.69 on Tuesday. The company has a market cap of $265.58 billion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22. The stock’s 50 day simple moving average is $604.73 and its 200-day simple moving average is $511.17. Netflix has a 1-year low of $315.62 and a 1-year high of $639.00. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share for the quarter, missing the consensus estimate of $2.20 by ($0.09). The firm had revenue of $8.83 billion during the quarter, compared to analysts’ expectations of $8.72 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.12 EPS. As a group, equities research analysts anticipate that Netflix will post 17.03 EPS for the current fiscal year.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 5,352 shares of Netflix stock in a transaction on Monday, March 18th. The stock was sold at an average price of $625.00, for a total value of $3,345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,181,250. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Netflix news, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory K. Peters sold 5,352 shares of Netflix stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $625.00, for a total value of $3,345,000.00. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,181,250. The disclosure for this sale can be found here. Over the last three months, insiders sold 268,335 shares of company stock worth $151,619,811. Company insiders own 2.45% of the company’s stock.

Institutional Trading of Netflix

Institutional investors have recently bought and sold shares of the business. Columbia Trust Co 01012016 lifted its holdings in Netflix by 15.3% during the 4th quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock worth $762,000 after buying an additional 208 shares during the last quarter. Crumly & Associates Inc. lifted its holdings in Netflix by 4.1% during the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after buying an additional 83 shares during the last quarter. Venture Visionary Partners LLC increased its position in shares of Netflix by 15.4% during the fourth quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock worth $4,795,000 after purchasing an additional 1,318 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Netflix by 142.6% during the third quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock worth $252,085,000 after purchasing an additional 392,427 shares in the last quarter. Finally, Smith Anglin Financial LLC increased its position in shares of Netflix by 7.7% during the third quarter. Smith Anglin Financial LLC now owns 546 shares of the Internet television network’s stock worth $206,000 after purchasing an additional 39 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

Netflix Company Profile

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.