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

Netflix (NASDAQ:NFLX) had its price objective lifted by equities researchers at KeyCorp from $1,000.00 to $1,100.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the Internet television network’s stock. KeyCorp’s target price would indicate a potential upside of 11.69% from the stock’s current price.

Several other brokerages also recently commented on NFLX. Jefferies Financial Group lifted 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. Sanford C. Bernstein lifted their price target on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Morgan Stanley increased their price objective on shares of Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their target price on Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Wolfe Research reiterated an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $996.94.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $984.86 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $420.99 billion, a PE ratio of 49.67, a P/E/G ratio of 1.41 and a beta of 1.27. The firm has a fifty day simple moving average of $889.11 and a 200 day simple moving average of $763.41. Netflix has a twelve month low of $537.07 and a twelve month high of $999.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 39.48% and a net margin of 22.34%. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. During the same period in the previous year, the business earned $2.11 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. On average, sell-side analysts forecast that Netflix will post 23.43 EPS for the current year.

Insider Activity

In related news, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the sale, the director now directly owns 246 shares in the company, valued at approximately $216,327.48. This represents a 96.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 41,601 shares of Netflix stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the completion of the transaction, the chairman now owns 85 shares of the company’s stock, valued at $64,435.10. This represents a 99.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 146,500 shares of company stock valued at $123,309,210 in the last 90 days. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of large investors have recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC purchased a new stake in Netflix during the 3rd quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings 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 worth $34,000 after buying an additional 42 shares in the last quarter. Decker Retirement Planning Inc. bought a new position in shares of Netflix in the fourth quarter valued at approximately $43,000. EMC Capital Management purchased a new position in Netflix during the fourth quarter valued at approximately $45,000. Finally, MidAtlantic Capital Management Inc. bought a new stake in Netflix during the 3rd quarter worth approximately $37,000. 80.93% of the stock is 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.