Macquarie Increases Netflix (NASDAQ:NFLX) Price Target to $685.00

Netflix (NASDAQ:NFLX) had its target price hoisted by analysts at Macquarie from $595.00 to $685.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the Internet television network’s stock. Macquarie’s price target points to a potential upside of 11.62% from the company’s current price.

A number of other research firms have also recently weighed in on NFLX. JPMorgan Chase & Co. lifted their price objective on Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Redburn Atlantic lifted their price objective on Netflix from $550.00 to $610.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Morgan Stanley lifted their price objective on Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. Oppenheimer lifted their price objective on Netflix from $615.00 to $725.00 and gave the company an “outperform” rating in a research report on Monday, March 11th. Finally, UBS Group lifted their price objective on Netflix from $570.00 to $685.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $614.28.

Netflix Trading Down 0.6 %

Shares of NASDAQ:NFLX opened at $613.69 on Tuesday. The stock has a market capitalization of $265.58 billion, a price-to-earnings ratio of 51.10, a PEG ratio of 1.64 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s 50-day simple moving average is $604.73 and its two-hundred day simple moving average is $511.17. Netflix has a 52-week low of $315.62 and a 52-week high of $639.00.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.09). The firm had revenue of $8.83 billion during the quarter, compared to analysts’ expectations of $8.72 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The company’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.12 earnings per share. Analysts expect that Netflix will post 17.03 EPS for the current year.

Insider Activity

In related news, CEO Gregory K. Peters sold 5,352 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,181,250. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at approximately $17,575,476.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Gregory K. Peters sold 5,352 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,181,250. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

Hedge funds have recently made changes to their positions in the company. Authentikos Wealth Advisory LLC purchased a new stake in shares of Netflix in the 3rd quarter worth $25,000. Spartan Planning & Wealth Management purchased a new stake in shares of Netflix in the 3rd quarter worth $26,000. Carmel Capital Partners LLC lifted its holdings in shares of Netflix by 290.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock worth $30,000 after buying an additional 58 shares during the period. VitalStone Financial LLC lifted its holdings in shares of Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after buying an additional 56 shares during the period. Finally, Beaird Harris Wealth Management LLC lifted its holdings in shares of Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after buying an additional 62 shares during the period. 80.93% of the stock is currently owned by hedge funds and other 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.