Bank of America Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX) had its target price raised by Bank of America from $800.00 to $1,000.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “buy” rating on the Internet television network’s stock. Bank of America‘s target price would indicate a potential upside of 11.38% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Macquarie reissued an “outperform” rating and issued a $795.00 price objective on shares of Netflix in a research report on Friday, October 18th. Loop Capital boosted their price target on Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a report on Wednesday, October 16th. JPMorgan Chase & Co. raised their price objective on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Finally, Evercore ISI raised their price target on Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $764.82.

Netflix Price Performance

NFLX stock opened at $897.79 on Thursday. The stock’s 50 day moving average price is $755.40 and its 200 day moving average price is $690.34. The firm has a market cap of $383.77 billion, a P/E ratio of 50.81, a PEG ratio of 1.68 and a beta of 1.25. 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 1 year low of $445.73 and a 1 year high of $908.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, sell-side analysts expect that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Chairman Reed Hastings sold 25,074 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the transaction, the chairman now directly owns 85 shares in the company, valued at $57,878.20. This represents a 99.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 185,866 shares of company stock valued at $133,393,921. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. RPg Family Wealth Advisory LLC bought a new position in Netflix during the third quarter worth $25,000. Denver PWM LLC bought a new position in shares of Netflix in the 2nd quarter worth about $25,000. Proffitt & Goodson Inc. boosted its holdings in shares of Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the last quarter. Finally, AlphaMark Advisors LLC raised its stake in Netflix by 642.9% during the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares during the period. Institutional investors own 80.93% of the company’s stock.

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.