Netflix (NASDAQ:NFLX) Given New $550.00 Price Target at Credit Suisse Group

Netflix (NASDAQ:NFLX) had its price target upped by Credit Suisse Group from $465.00 to $550.00 in a research report report published on Tuesday, BenzingaRatingsTable reports. They currently have an outperform rating on the Internet television network’s stock.

NFLX has been the topic of several other research reports. Wells Fargo & Co upgraded shares of Netflix from an underweight rating to an equal weight rating and set a $460.00 price target on the stock in a research note on Wednesday, April 22nd. Goldman Sachs Group boosted their price target on shares of Netflix from $430.00 to $490.00 and gave the stock a buy rating in a research note on Thursday, April 16th. Loop Capital upped their target price on shares of Netflix from $490.00 to $500.00 in a research report on Wednesday, April 29th. Wedbush upped their target price on shares of Netflix from $194.00 to $198.00 and gave the company an underperform rating in a research report on Wednesday, April 22nd. Finally, Cowen upped their target price on shares of Netflix from $485.00 to $535.00 and gave the company an outperform rating in a research report on Tuesday, June 30th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-seven have given a buy rating to the company’s stock. Netflix presently has an average rating of Buy and an average price target of $442.51.

NFLX opened at $493.16 on Tuesday. The stock has a market cap of $217.18 billion, a price-to-earnings ratio of 99.96, a price-to-earnings-growth ratio of 2.56 and a beta of 0.96. Netflix has a fifty-two week low of $252.28 and a fifty-two week high of $499.50. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s fifty day moving average is $440.52 and its 200 day moving average is $387.17.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, April 21st. The Internet television network reported $1.57 EPS for the quarter, missing the consensus estimate of $1.64 by ($0.07). The company had revenue of $5.77 billion during the quarter, compared to analysts’ expectations of $5.75 billion. Netflix had a return on equity of 30.83% and a net margin of 10.43%. The firm’s revenue for the quarter was up 27.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.76 EPS. On average, equities research analysts predict that Netflix will post 6.43 earnings per share for the current year.

In other news, Director Jay C. Hoag sold 3,789 shares of the company’s stock in a transaction that occurred on Friday, April 24th. The shares were sold at an average price of $418.64, for a total value of $1,586,226.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gregory K. Peters sold 5,357 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $475.00, for a total transaction of $2,544,575.00. Following the completion of the sale, the insider now directly owns 18,447 shares of the company’s stock, valued at approximately $8,762,325. The disclosure for this sale can be found here. Insiders sold a total of 187,381 shares of company stock worth $84,244,849 over the last 90 days. Insiders own 3.40% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Quarterback LLC lifted its position in shares of Netflix by 14.3% in the 1st quarter. Wealth Quarterback LLC now owns 184 shares of the Internet television network’s stock worth $69,000 after purchasing an additional 23 shares during the period. Enterprise Financial Services Corp lifted its position in shares of Netflix by 2.3% in the 1st quarter. Enterprise Financial Services Corp now owns 1,056 shares of the Internet television network’s stock worth $396,000 after purchasing an additional 24 shares during the period. Verus Capital Partners LLC lifted its position in shares of Netflix by 2.2% in the 1st quarter. Verus Capital Partners LLC now owns 1,126 shares of the Internet television network’s stock worth $423,000 after purchasing an additional 24 shares during the period. Beech Hill Advisors Inc. lifted its position in shares of Netflix by 0.5% in the 1st quarter. Beech Hill Advisors Inc. now owns 5,175 shares of the Internet television network’s stock worth $1,943,000 after purchasing an additional 25 shares during the period. Finally, Northern Oak Wealth Management Inc. lifted its position in shares of Netflix by 39.7% in the 1st quarter. Northern Oak Wealth Management Inc. now owns 88 shares of the Internet television network’s stock worth $33,000 after purchasing an additional 25 shares during the period. 82.35% of the stock is owned by hedge funds and other institutional investors.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

See Also: Sell-Side Analysts

Analyst Recommendations for Netflix (NASDAQ:NFLX)

Receive News & Ratings for Netflix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Netflix and related companies with MarketBeat.com's FREE daily email newsletter.