Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, Macquarie Analyst Says

Netflix (NASDAQ:NFLX) had its price target upped by Macquarie from $795.00 to $965.00 in a research note issued to investors on Monday,Benzinga reports. Macquarie currently has an outperform rating on the Internet television network’s stock.

A number of other brokerages have also recently commented on NFLX. Loop Capital cut Netflix from a “buy” rating to a “hold” rating and boosted their price target for the stock from $800.00 to $950.00 in a research report on Monday, December 16th. Bank of America boosted their target price on Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. BMO Capital Markets restated an “outperform” rating and set a $825.00 price target (up from $770.00) on shares of Netflix in a report on Friday, October 18th. Citigroup upped their price target on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Finally, Oppenheimer raised their price objective on shares of Netflix from $825.00 to $1,065.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $832.94.

Netflix Price Performance

NFLX opened at $840.29 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market cap of $359.19 billion, a price-to-earnings ratio of 47.55, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The stock has a fifty day simple moving average of $879.75 and a two-hundred day simple moving average of $754.88. Netflix has a 12-month low of $475.26 and a 12-month high of $941.75.

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

Insiders Place Their Bets

In other Netflix news, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total value of $518,320.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction of $43,362,265.80. Following the sale, the chairman now owns 114 shares in the company, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,742 shares of company stock worth $131,030,268 over the last quarter. 1.76% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently made changes to their positions in NFLX. State Street Corp lifted its holdings in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after acquiring an additional 123,029 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock valued at $3,473,571,000 after acquiring an additional 23,702 shares in the last quarter. 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.