Netflix (NASDAQ:NFLX) Price Target Raised to $700.00

Netflix (NASDAQ:NFLX) had its target price boosted by equities researchers at Guggenheim from $600.00 to $700.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the Internet television network’s stock. Guggenheim’s target price would indicate a potential upside of 14.06% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Bank of America upped their price target on shares of Netflix from $585.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, January 24th. KeyCorp upped their price target on shares of Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Wells Fargo & Company upped their price target on shares of Netflix from $460.00 to $650.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Piper Sandler upped their price target on shares of Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Finally, Benchmark upped their price objective on shares of Netflix from $350.00 to $425.00 and gave the stock a “sell” rating in a research report on Friday, January 19th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $614.28.

Netflix Price Performance

NASDAQ:NFLX opened at $613.69 on Tuesday. Netflix has a one year low of $315.62 and a one year high of $639.00. The company has a market cap of $265.58 billion, a P/E ratio of 51.10, a P/E/G ratio of 1.64 and a beta of 1.22. The firm’s fifty day moving average price is $604.73 and its two-hundred day moving average price is $511.17. 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 quarterly earnings data on Tuesday, January 23rd. The Internet television network reported $2.11 EPS for the quarter, missing the consensus estimate of $2.20 by ($0.09). Netflix had a net margin of 16.04% and a return on equity of 24.76%. The company had revenue of $8.83 billion during the quarter, compared to analyst estimates of $8.72 billion. During the same quarter in the prior year, the firm earned $0.12 earnings per share. Netflix’s revenue for the quarter was up 12.5% on a year-over-year basis. Equities analysts expect that Netflix will post 17.03 earnings per share for the current year.

Insider Transactions at Netflix

In related news, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $17,575,476.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Jay C. Hoag sold 47,000 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total value of $25,873,500.00. Following the transaction, the director now directly owns 431,034 shares in the company, valued at approximately $237,284,217. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total value of $148,454.67. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $17,575,476.10. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock valued at $151,619,811 in the last quarter. 2.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netflix

Large investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in Netflix during the 4th quarter worth $2,558,598,000. Wellington Management Group LLP boosted its holdings in Netflix by 540.9% during the 4th quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after acquiring an additional 3,273,592 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its holdings in 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 worth $808,575,000 after acquiring an additional 2,739,725 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Netflix by 15,039.1% during the 4th quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after acquiring an additional 2,061,859 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after acquiring an additional 1,573,978 shares during the last quarter. 80.93% of the stock is currently owned by 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.