BMO Capital Markets Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its price objective boosted by BMO Capital Markets from $825.00 to $1,000.00 in a report released on Wednesday morning, MarketBeat.com reports. The firm currently has an outperform rating on the Internet television network’s stock.

A number of other equities analysts have also recently weighed in on NFLX. TD Cowen upped their price target on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Guggenheim increased their target price on Netflix from $825.00 to $950.00 and gave the company a “buy” rating in a research report on Monday. Pivotal Research boosted their price target on shares of Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Sanford C. Bernstein upped their price objective on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company lifted their target price on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $845.82.

Netflix Price Performance

NASDAQ:NFLX opened at $848.26 on Wednesday. The company has a 50 day moving average price of $881.04 and a 200-day moving average price of $755.96. Netflix has a 1-year low of $475.26 and a 1-year high of $941.75. The firm has a market cap of $362.60 billion, a price-to-earnings ratio of 48.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Equities research analysts forecast that Netflix will post 19.78 EPS for the current year.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 267 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 156,742 shares of company stock valued at $131,030,268. 1.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NFLX. DigitalBridge Group Inc. lifted its stake in Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after acquiring an additional 9,451 shares in the last quarter. Nordea Investment Management AB increased its stake in Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after purchasing an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after purchasing an additional 29,726 shares in the last quarter. Natixis Advisors LLC lifted its position in shares of Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after purchasing an additional 11,921 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in shares of Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after purchasing an additional 1,684 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.