Netflix (NASDAQ:NFLX) Price Target Raised to $600.00

Netflix (NASDAQ:NFLX) had its target price raised by Sanford C. Bernstein from $490.00 to $600.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a market perform rating on the Internet television network’s stock.

Several other research analysts have also weighed in on NFLX. Evercore ISI increased their target price on shares of Netflix from $600.00 to $640.00 and gave the stock an outperform rating in a research note on Thursday, March 14th. DZ Bank raised shares of Netflix from a hold rating to a buy rating and set a $600.00 target price for the company in a research note on Thursday, January 25th. Piper Sandler increased their target price on shares of Netflix from $550.00 to $600.00 and gave the stock a neutral rating in a research note on Friday, April 12th. Bank of America increased their target price on shares of Netflix from $585.00 to $650.00 and gave the stock a buy rating in a research note on Wednesday, January 24th. Finally, Barclays raised their price objective on shares of Netflix from $475.00 to $550.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $630.58.

Netflix Trading Down 9.1 %

Shares of NFLX opened at $555.04 on Friday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix has a 12-month low of $315.62 and a 12-month high of $639.00. The firm has a 50-day moving average price of $605.65 and a 200 day moving average price of $514.99. The firm has a market capitalization 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.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.46%. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same quarter in the prior year, the firm posted $2.88 earnings per share. Netflix’s quarterly revenue was up 14.8% on a year-over-year basis. Sell-side analysts forecast that Netflix will post 17.13 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the sale, the chief executive officer now owns 1,278 shares of the company’s stock, valued at $717,379.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the sale, the chief executive officer now owns 1,278 shares of the company’s stock, valued at $717,379.74. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the transaction, the insider now owns 31,610 shares in the company, valued at $17,003,651.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently modified their holdings of the business. KFA Private Wealth Group LLC grew its position in shares of Netflix by 1.9% during the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock worth $466,000 after acquiring an additional 18 shares during the last quarter. Legacy Capital Group California Inc. grew its position in Netflix by 0.6% in the 4th quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock valued at $1,379,000 after buying an additional 18 shares during the last quarter. Founders Financial Alliance LLC grew its position in Netflix by 2.4% in the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after buying an additional 18 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in Netflix by 4.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock valued at $250,000 after buying an additional 18 shares during the last quarter. Finally, Addison Advisors LLC grew its position in Netflix by 7.8% in the 4th quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock valued at $134,000 after buying an additional 20 shares during the last quarter. 80.93% of the stock is currently 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.