Needham & Company LLC Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its price target raised by equities research analysts at Needham & Company LLC from $800.00 to $1,150.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the Internet television network’s stock. Needham & Company LLC’s price target would suggest a potential upside of 16.77% from the stock’s previous close.

A number of other research analysts have also commented on the stock. Jefferies Financial Group raised their price objective on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a research note on Saturday, December 21st. Rosenblatt Securities raised Netflix from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $680.00 to $1,494.00 in a research note on Wednesday. Evercore ISI lifted their price target on Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Finally, Argus upped their price target on Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $996.94.

Netflix Stock Up 3.2 %

NFLX opened at $984.86 on Wednesday. The stock’s 50 day moving average price is $889.11 and its 200 day moving average price is $763.41. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market cap of $420.99 billion, a P/E ratio of 49.67, a P/E/G ratio of 1.41 and a beta of 1.27. Netflix has a 12 month low of $537.07 and a 12 month high of $999.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.11 earnings per share. As a group, research analysts predict that Netflix will post 23.43 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Richard N. Barton sold 6,364 shares of the business’s 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 transaction, the director now owns 246 shares of the company’s stock, valued at $216,327.48. The trade was a 96.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,500 shares of company stock valued at $123,309,210 over the last three months. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several large investors have recently modified their holdings of NFLX. DigitalBridge Group Inc. raised its holdings in Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after buying an additional 9,451 shares during the period. Nordea Investment Management AB increased its position in shares of Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after acquiring an additional 156,958 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after acquiring an additional 29,726 shares during the period. Natixis Advisors LLC lifted its position in Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after acquiring an additional 11,921 shares in the last quarter. Finally, M&T Bank Corp boosted its stake in Netflix by 4.2% in the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after purchasing an additional 1,684 shares during the period. 80.93% of the stock is currently owned by institutional investors.

About Netflix

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.