Evercore ISI Boosts Netflix (NASDAQ:NFLX) Price Target to $650.00

Netflix (NASDAQ:NFLX) had its price objective lifted by Evercore ISI from $640.00 to $650.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an outperform rating on the Internet television network’s stock.

Other equities analysts have also issued research reports about the stock. Seaport Res Ptn lowered shares of Netflix from a buy rating to a neutral rating in a research report on Tuesday, January 30th. StockNews.com upgraded shares of Netflix from a hold rating to a buy rating in a research note on Monday, February 26th. Oppenheimer reaffirmed an outperform rating and issued a $725.00 price target on shares of Netflix in a report on Friday. Benchmark reissued a sell rating and set a $440.00 price objective on shares of Netflix in a report on Thursday. Finally, Bank of America raised their target price on Netflix from $585.00 to $650.00 and gave the stock a buy rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $630.58.

Netflix Price Performance

Netflix stock opened at $555.04 on Friday. The stock has a market cap of $240.20 billion, a P/E ratio of 38.52, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average price is $605.65 and its two-hundred day moving average price is $514.99. Netflix has a 52 week low of $315.62 and a 52 week high of $639.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a return on equity of 29.46% and a net margin of 18.42%. Netflix’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $2.88 earnings per share. On average, equities analysts predict that Netflix will post 17.13 earnings per share for the current year.

Insider Transactions at Netflix

In other Netflix news, CEO Gregory K. Peters sold 13,655 shares of Netflix stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total transaction of $7,425,589.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,118,342. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Jay C. Hoag sold 47,000 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total transaction 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory K. Peters sold 13,655 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total value of $7,425,589.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,118,342. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Indiana Trust & Investment Management CO boosted its stake in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares in the last quarter. VitalStone Financial LLC boosted its position in Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after buying an additional 56 shares during the period. Scarborough Advisors LLC bought a new position in shares of Netflix during the fourth quarter valued at about $32,000. Aspect Partners LLC purchased a new position in shares of Netflix in the fourth quarter worth about $32,000. Finally, Authentikos Wealth Advisory LLC purchased a new position in shares of Netflix in the third quarter worth about $25,000. 80.93% of the stock is currently owned by 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.