Rosenblatt Securities Increases Netflix (NASDAQ:NFLX) Price Target to $680.00

Netflix (NASDAQ:NFLX) had its price objective lifted by research analysts at Rosenblatt Securities from $635.00 to $680.00 in a research report issued on Friday, MarketBeat Ratings reports. The firm currently has a “neutral” rating on the Internet television network’s stock. Rosenblatt Securities’ price target suggests a potential downside of 10.98% from the company’s previous close.

Several other brokerages have also recently issued reports on NFLX. China Renaissance initiated coverage on Netflix in a report on Thursday, September 5th. They set a “hold” rating and a $680.00 price objective on the stock. Jefferies Financial Group upped their price target on shares of Netflix from $655.00 to $780.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Barclays reissued an “underweight” rating and issued a $550.00 price objective on shares of Netflix in a research note on Monday, October 7th. UBS Group boosted their target price on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Finally, Evercore ISI increased their price target on shares of Netflix from $710.00 to $750.00 and gave the company an “outperform” rating in a report on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $747.70.

Netflix Stock Up 11.1 %

Shares of NFLX stock opened at $763.89 on Friday. The company’s fifty day simple moving average is $696.38 and its two-hundred day simple moving average is $654.94. Netflix has a 52 week low of $392.26 and a 52 week high of $766.28. The stock has a market cap of $329.24 billion, a P/E ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the previous year, the business earned $3.29 earnings per share. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. Analysts predict that Netflix will post 19.08 EPS for the current fiscal year.

Insider Activity

In related news, Chairman Reed Hastings sold 25,599 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares of the company’s stock, valued at $35,991.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total transaction of $785,254.32. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the transaction, the chairman now owns 57 shares in the company, valued at $35,991.51. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 225,167 shares of company stock worth $150,492,460. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Institutional investors have recently modified their holdings of the company. RFG Advisory LLC boosted its position in shares of Netflix by 24.7% in the 1st quarter. RFG Advisory LLC now owns 2,292 shares of the Internet television network’s stock worth $1,392,000 after purchasing an additional 454 shares in the last quarter. Meyer Handelman Co. grew its stake in shares of Netflix by 0.8% during the first quarter. Meyer Handelman Co. now owns 3,358 shares of the Internet television network’s stock worth $2,039,000 after acquiring an additional 25 shares during the last quarter. Congress Asset Management Co. MA increased its holdings in shares of Netflix by 6.6% during the first quarter. Congress Asset Management Co. MA now owns 18,885 shares of the Internet television network’s stock valued at $11,469,000 after acquiring an additional 1,174 shares in the last quarter. MJP Associates Inc. ADV purchased a new position in shares of Netflix in the 1st quarter valued at approximately $360,000. Finally, &PARTNERS boosted its stake in Netflix by 158.2% in the 1st quarter. &PARTNERS now owns 1,379 shares of the Internet television network’s stock worth $838,000 after purchasing an additional 845 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

Netflix Company Profile

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.