Bank of America Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its target price hoisted by Bank of America from $1,175.00 to $1,490.00 in a research report released on Friday, Marketbeat Ratings reports. They currently have a buy rating on the Internet television network’s stock.

NFLX has been the topic of several other research reports. Wells Fargo & Company lifted their target price on Netflix from $1,210.00 to $1,222.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $1,220.00 target price (up previously from $1,150.00) on shares of Netflix in a research note on Monday, May 19th. Phillip Securities upgraded Netflix from a “moderate sell” rating to a “hold” rating in a research note on Monday, April 21st. Barclays boosted their price target on Netflix from $900.00 to $1,000.00 and gave the stock an “equal weight” rating in a research note on Monday, April 21st. Finally, KeyCorp boosted their price target on Netflix from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Eleven investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $1,122.33.

Netflix Stock Performance

NFLX stock opened at $1,202.12 on Friday. The business has a 50-day moving average price of $1,059.27 and a 200 day moving average price of $976.26. Netflix has a 1-year low of $587.04 and a 1-year high of $1,215.91. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $511.59 billion, a P/E ratio of 60.62, a PEG ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX) last posted its earnings results 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. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the previous year, the firm earned $8.28 earnings per share. As a group, equities research analysts forecast that Netflix will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, CAO Jeffrey William Karbowski sold 480 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $978.18, for a total value of $469,526.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bradford L. Smith sold 3,919 shares of the business’s stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the completion of the transaction, the director now directly owns 7,969 shares of the company’s stock, valued at $8,959,227.94. The trade was a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,262 shares of company stock valued at $106,599,765. 1.37% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in NFLX. GAMMA Investing LLC raised its stake in shares of Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after buying an additional 8,827,662 shares during the period. Norges Bank acquired a new position in shares of Netflix during the 4th quarter worth approximately $5,019,087,000. Nuveen LLC acquired a new position in shares of Netflix during the 1st quarter worth approximately $2,385,585,000. Proficio Capital Partners LLC raised its stake in shares of Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock worth $1,716,662,000 after buying an additional 1,924,423 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Netflix by 57.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network’s stock worth $3,164,134,000 after buying an additional 1,236,251 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

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.