KeyCorp Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX) had its price objective hoisted by investment analysts at KeyCorp from $1,000.00 to $1,070.00 in a research report issued on Monday, MarketBeat reports. The firm currently has an “overweight” rating on the Internet television network’s stock. KeyCorp’s price objective suggests a potential upside of 2.85% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Pivotal Research reaffirmed a “buy” rating and set a $1,350.00 price target (up from $1,250.00) on shares of Netflix in a research note on Thursday, April 17th. UBS Group reduced their price objective on shares of Netflix from $1,150.00 to $1,140.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Guggenheim reissued a “buy” rating and issued a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research note on Friday. Finally, Evercore ISI upped their target price on Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Wednesday, January 22nd. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $1,070.65.

Netflix Trading Up 5.3 %

NFLX opened at $1,040.34 on Monday. The stock has a 50-day moving average of $954.01 and a 200 day moving average of $897.26. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix has a 12 month low of $544.25 and a 12 month high of $1,064.97. The firm has a market cap of $445.01 billion, a P/E ratio of 52.46, a P/E/G ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same period last year, the company earned $8.28 EPS. As a group, research analysts forecast that Netflix will post 24.58 EPS for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,939 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at $13,338,500. This trade represents a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jay C. Hoag sold 617 shares of Netflix stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total transaction of $604,481.07. The disclosure for this sale can be found here. Insiders have sold 274,472 shares of company stock worth $268,079,297 over the last quarter. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Halbert Hargrove Global Advisors LLC increased its holdings in shares of Netflix by 100.0% during the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 13 shares in the last quarter. Pathway Financial Advisers LLC grew its position in Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 14 shares during the last quarter. Brown Shipley& Co Ltd acquired a new position in Netflix during the 4th quarter valued at approximately $27,000. Transce3nd LLC purchased a new position in shares of Netflix in the fourth quarter worth $32,000. Finally, Newton One Investments LLC purchased a new position in shares of Netflix in the fourth quarter worth $34,000. 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.