Argus Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its price target raised by Argus from $840.00 to $1,040.00 in a research note published on Monday, Marketbeat reports. Argus currently has a buy rating on the Internet television network’s stock.

A number of other brokerages have also recently issued reports on NFLX. JPMorgan Chase & Co. upped their target price on shares of Netflix from $850.00 to $1,010.00 and gave the company an “overweight” rating in a report on Wednesday, December 11th. Jefferies Financial Group upped their price objective on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Wolfe Research reiterated an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Evercore ISI increased their price target on Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a research note on Monday, December 2nd. Finally, Benchmark lifted their price objective on shares of Netflix from $555.00 to $720.00 and gave the stock a “sell” rating in a research report on Friday. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $821.27.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $881.79 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a 50 day moving average price of $869.23 and a 200 day moving average price of $748.42. The stock has a market capitalization of $376.93 billion, a PE ratio of 49.90, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. Netflix has a 52 week low of $472.95 and a 52 week high of $941.75.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. The business had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. Analysts predict that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the sale, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 150,761 shares of company stock valued at $125,713,484. 1.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netflix

Large investors have recently bought and sold shares of the company. Strategic Financial Concepts LLC raised its holdings in Netflix by 58,624.5% in the 2nd quarter. Strategic Financial Concepts LLC now owns 213,757 shares of the Internet television network’s stock valued at $1,443,000 after buying an additional 213,393 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Netflix by 142.3% during the second quarter. Acadian Asset Management LLC now owns 55,345 shares of the Internet television network’s stock valued at $37,346,000 after acquiring an additional 32,505 shares during the last quarter. Stonekeep Investments LLC acquired a new position in shares of Netflix during the second quarter worth $585,000. NRI Wealth Management LC bought a new stake in shares of Netflix in the second quarter worth $2,320,000. Finally, Fox Hill Wealth Management increased its holdings in Netflix by 32.6% in the second quarter. Fox Hill Wealth Management now owns 5,493 shares of the Internet television network’s stock valued at $3,707,000 after purchasing an additional 1,350 shares during the period. 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.