Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Netflix (NASDAQ:NFLX) had its target price upped by stock analysts at The Goldman Sachs Group from $750.00 to $850.00 in a research note issued on Wednesday, Marketbeat Ratings reports. The firm presently has a “neutral” rating on the Internet television network’s stock. The Goldman Sachs Group’s price objective suggests a potential downside of 2.86% from the stock’s previous close.

A number of other research analysts have also weighed in on NFLX. Pivotal Research upped their price objective on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. KeyCorp raised their price objective on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Rosenblatt Securities upped their target price on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Needham & Company LLC lifted their price target on shares of Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Evercore ISI boosted their price target on Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a research note on Monday, December 2nd. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $824.30.

Netflix Stock Down 0.5 %

Shares of Netflix stock opened at $875.00 on Wednesday. Netflix has a one year low of $472.95 and a one year high of $941.75. The company has a market cap of $374.03 billion, a P/E ratio of 49.52, a PEG ratio of 1.77 and a beta of 1.27. 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 firm has a fifty day moving average of $876.43 and a two-hundred day moving average of $751.52.

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

Insider Buying and Selling

In other news, Director Richard N. Barton sold 6,364 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the sale, the director now owns 246 shares of the company’s stock, valued at $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Reed Hastings sold 35,868 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $101,241.12. This represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 156,742 shares of company stock valued at $131,030,268. 1.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Netflix

A number of large investors have recently modified their holdings of NFLX. Legacy Private Trust Co. lifted its position in Netflix by 2.4% during the 4th quarter. Legacy Private Trust Co. now owns 3,274 shares of the Internet television network’s stock worth $2,918,000 after acquiring an additional 78 shares in the last quarter. Farmers Trust Co. acquired a new position in shares of Netflix during the fourth quarter worth $202,000. Douglas Lane & Associates LLC boosted its stake in shares of Netflix by 17.9% in the fourth quarter. Douglas Lane & Associates LLC now owns 579 shares of the Internet television network’s stock valued at $516,000 after purchasing an additional 88 shares during the period. Private Client Services LLC acquired a new stake in Netflix during the 4th quarter valued at $234,000. Finally, Worth Asset Management LLC increased its stake in Netflix by 210.3% during the 4th quarter. Worth Asset Management LLC now owns 3,094 shares of the Internet television network’s stock worth $2,758,000 after buying an additional 2,097 shares during the period. Institutional investors and hedge funds 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.