Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, Bank of America Analyst Says

Netflix (NASDAQ:NFLX) had its target price raised by Bank of America from $1,175.00 to $1,490.00 in a research report sent to investors on Friday morning, MarketBeat reports. Bank of America currently has a buy rating on the Internet television network’s stock.

Other equities research analysts also recently issued research reports about the stock. Wolfe Research set a $1,340.00 price objective on shares of Netflix and gave the stock an “outperform” rating in a research note on Friday, May 16th. Moffett Nathanson restated a “buy” rating and issued a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. FBN Securities began coverage on shares of Netflix in a report on Thursday, March 27th. They set an “outperform” rating and a $1,165.00 price objective on the stock. Wells Fargo & Company increased their target price on shares of Netflix from $1,210.00 to $1,222.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. Finally, Loop Capital restated a “hold” rating on shares of Netflix in a research note on Monday, March 24th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $1,122.33.

Netflix Trading Up 1.5%

Shares of NASDAQ:NFLX opened at $1,202.12 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The stock’s 50-day moving average is $1,059.27 and its 200-day moving average is $974.30. The company has a market cap of $511.59 billion, a P/E ratio of 60.62, a P/E/G ratio of 2.12 and a beta of 1.58. Netflix has a 52-week low of $587.04 and a 52-week high of $1,215.91.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. During the same quarter in the prior year, the company earned $8.28 EPS. Equities research analysts predict that Netflix will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In related news, CAO Jeffrey William Karbowski sold 640 shares of the firm’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $1,194.77, for a total transaction of $764,652.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ann Mather sold 1,358 shares of the business’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $1,150.00, for a total value of $1,561,700.00. The disclosure for this sale can be found here. Insiders have sold a total of 133,348 shares of company stock worth $139,087,908 over the last ninety days. Corporate insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of hedge funds have recently added to or reduced their stakes in NFLX. Halbert Hargrove Global Advisors LLC boosted its position in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after buying an additional 13 shares during the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix in the fourth quarter valued at about $27,000. Pathway Financial Advisers LLC increased its position in Netflix by 82.4% in the fourth 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 period. Transce3nd LLC bought a new stake in Netflix during the 4th quarter worth about $32,000. Finally, Newton One Investments LLC bought a new stake in Netflix during the 4th quarter worth about $34,000. Institutional investors own 80.93% of the company’s stock.

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.