Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Netflix (NASDAQ:NFLX) had its price target raised by stock analysts at Canaccord Genuity Group from $760.00 to $940.00 in a report issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the Internet television network’s stock. Canaccord Genuity Group’s price target points to a potential upside of 4.19% from the stock’s current price.

A number of other research analysts also recently weighed in on NFLX. Bank of America upped their price objective on shares of Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Evercore ISI upped their price target on shares of Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a research report on Monday. Barclays restated an “underweight” rating and set a $550.00 price target on shares of Netflix in a research report on Friday, October 18th. Wedbush restated an “outperform” rating and set a $950.00 price target (up previously from $800.00) on shares of Netflix in a research report on Monday, November 18th. Finally, Benchmark restated a “sell” rating and set a $545.00 price target on shares of Netflix in a research report on Tuesday, October 15th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $775.58.

Netflix Trading Up 0.5 %

Shares of Netflix stock opened at $902.17 on Monday. The firm has a 50-day simple moving average of $780.46 and a two-hundred day simple moving average of $704.75. The company has a market cap of $385.64 billion, a P/E ratio of 51.06, a price-to-earnings-growth ratio of 1.73 and a beta of 1.27. Netflix has a fifty-two week low of $445.73 and a fifty-two week high of $908.00. 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 (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. As a group, equities analysts predict that Netflix will post 19.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 4,392 shares of the firm’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total transaction of $3,184,200.00. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $9,490,250. This trade represents a 25.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the transaction, the director now directly owns 95,040 shares in the company, valued at $65,299,132.80. The trade was a 31.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 209,155 shares of company stock valued at $159,682,799. Insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several hedge funds and other institutional investors have recently made changes to their positions in NFLX. Denver PWM LLC purchased a new stake in shares of Netflix in the second quarter valued at about $25,000. RPg Family Wealth Advisory LLC purchased a new stake in shares of Netflix in the third quarter valued at about $25,000. Proffitt & Goodson Inc. boosted its holdings in shares of Netflix by 380.0% in the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares during the period. Finally, AlphaMark Advisors LLC lifted its stake in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares during the period. Hedge funds and other 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.