Evercore ISI Boosts Netflix (NASDAQ:NFLX) Price Target to $1,100.00

Netflix (NASDAQ:NFLX) had its price objective boosted by equities research analysts at Evercore ISI from $950.00 to $1,100.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the Internet television network’s stock. Evercore ISI’s price target suggests a potential upside of 11.69% from the company’s current price.

NFLX has been the subject of several other research reports. Guggenheim increased their price objective on shares of Netflix from $825.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, January 13th. Citigroup increased their price target on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a report on Saturday, December 21st. Pivotal Research increased their target price on Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Needham & Company LLC boosted their price target on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $996.94.

Netflix Trading Up 3.2 %

Shares of NFLX opened at $984.86 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix has a 52-week low of $537.07 and a 52-week high of $999.00. The firm has a market cap of $420.99 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 1.41 and a beta of 1.27. The business’s fifty day moving average is $889.11 and its 200-day moving average is $763.41.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a return on equity of 39.48% and a net margin of 22.34%. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.11 earnings per share. Equities analysts anticipate that Netflix will post 23.43 EPS for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the sale, the chairman now owns 114 shares in the company, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,500 shares of company stock valued at $123,309,210 over the last ninety days. 1.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Netflix

A number of hedge funds have recently modified their holdings of the stock. State Street Corp increased its position in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after acquiring an additional 123,029 shares during the period. Jennison Associates LLC increased its holdings in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. International Assets Investment Management LLC raised its stake in Netflix by 116,620.0% in the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after purchasing an additional 23,702 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

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.