Netflix (NASDAQ:NFLX) Price Target Raised to $780.00

Netflix (NASDAQ:NFLX) had its target price raised by equities research analysts at Morgan Stanley from $700.00 to $780.00 in a report released on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the Internet television network’s stock. Morgan Stanley’s price target suggests a potential upside of 20.44% from the stock’s previous close.

NFLX has been the subject of a number of other research reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $713.00 price target (up previously from $638.00) on shares of Netflix in a research note on Wednesday, April 17th. Oppenheimer reissued an “outperform” rating and issued a $725.00 price objective on shares of Netflix in a research note on Friday, April 19th. Loop Capital boosted their price target on Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a report on Tuesday, June 18th. Benchmark upped their price objective on Netflix from $440.00 to $450.00 and gave the stock a “sell” rating in a research report on Friday, May 17th. Finally, Argus boosted their target price on Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research note on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus target price of $644.71.

Netflix Stock Down 0.8 %

NFLX stock opened at $647.60 on Monday. Netflix has a 1-year low of $344.73 and a 1-year high of $697.49. The business’s 50 day simple moving average is $651.70 and its 200 day simple moving average is $598.44. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $279.12 billion, a PE ratio of 44.94, a PEG ratio of 1.40 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the prior year, the business earned $2.88 earnings per share. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, research analysts anticipate that Netflix will post 18.31 EPS for the current year.

Insider Activity

In related news, CEO Gregory K. Peters sold 1,278 shares of Netflix stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $593.81, for a total transaction of $758,889.18. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $7,772,972.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Spencer Adam Neumann sold 564 shares of Netflix stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $613.08, for a total transaction of $345,777.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gregory K. Peters sold 1,278 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $593.81, for a total value of $758,889.18. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,772,972.90. The disclosure for this sale can be found here. Insiders sold 71,385 shares of company stock worth $44,469,351 over the last three months. 1.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netflix

Several institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its stake in shares of Netflix by 107.2% in the fourth quarter. IFP Advisors Inc now owns 4,699 shares of the Internet television network’s stock valued at $2,288,000 after buying an additional 2,431 shares during the period. Daymark Wealth Partners LLC raised its position in shares of Netflix by 4.1% in the fourth quarter. Daymark Wealth Partners LLC now owns 1,592 shares of the Internet television network’s stock valued at $775,000 after purchasing an additional 63 shares during the period. Nordea Investment Management AB lifted its stake in shares of Netflix by 53.5% during the 4th quarter. Nordea Investment Management AB now owns 476,365 shares of the Internet television network’s stock valued at $231,175,000 after buying an additional 166,019 shares in the last quarter. Strategic Investment Advisors MI bought a new position in Netflix in the 4th quarter worth approximately $260,000. Finally, KMG Fiduciary Partners LLC grew its stake in Netflix by 3.7% in the 4th quarter. KMG Fiduciary Partners LLC now owns 4,671 shares of the Internet television network’s stock valued at $2,274,000 after buying an additional 167 shares in 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.