Netflix (NASDAQ:NFLX) Price Target Raised to $600.00 at Sanford C. Bernstein

Netflix (NASDAQ:NFLX) had its price objective lifted by Sanford C. Bernstein from $490.00 to $600.00 in a research note released on Friday, Benzinga reports. The firm currently has a market perform rating on the Internet television network’s stock.

Several other brokerages have also recently weighed in on NFLX. Guggenheim boosted their price objective on Netflix from $600.00 to $700.00 and gave the stock a buy rating in a report on Tuesday. TD Cowen boosted their price objective on Netflix from $600.00 to $725.00 and gave the stock a buy rating in a report on Monday, April 8th. Robert W. Baird boosted their price objective on Netflix from $500.00 to $600.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. KeyCorp boosted their price objective on Netflix from $580.00 to $705.00 and gave the stock an overweight rating in a report on Wednesday, March 20th. Finally, Loop Capital boosted their price objective on Netflix from $585.00 to $700.00 and gave the stock a buy rating in a report on Monday, March 18th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $630.58.

Netflix Stock Down 9.1 %

Shares of NASDAQ NFLX opened at $555.04 on Friday. The firm’s 50-day simple moving average is $605.65 and its 200 day simple moving average is $513.07. The company has a market cap of $240.20 billion, a price-to-earnings ratio of 38.52, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix has a 12-month low of $315.62 and a 12-month high of $639.00.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.46%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.88 EPS. On average, research analysts expect that Netflix will post 17.08 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the sale, the chief executive officer now owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the sale, the chief executive officer now owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jay C. Hoag sold 47,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $550.50, for a total value of $25,873,500.00. Following the completion of the sale, the director now directly owns 431,034 shares of the company’s stock, valued at approximately $237,284,217. The disclosure for this sale can be found here. In the last 90 days, insiders sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

A number of large investors have recently added to or reduced their stakes in the business. Mezzasalma Advisors LLC raised its stake in Netflix by 1.3% in the 1st quarter. Mezzasalma Advisors LLC now owns 6,861 shares of the Internet television network’s stock valued at $4,167,000 after acquiring an additional 90 shares during the period. FORVIS Wealth Advisors LLC raised its stake in Netflix by 119.4% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 974 shares of the Internet television network’s stock valued at $592,000 after acquiring an additional 530 shares during the period. Teamwork Financial Advisors LLC raised its stake in Netflix by 3,476.5% in the 1st quarter. Teamwork Financial Advisors LLC now owns 15,987 shares of the Internet television network’s stock valued at $9,709,000 after acquiring an additional 15,540 shares during the period. Veracity Capital LLC raised its stake in Netflix by 44.8% in the 1st quarter. Veracity Capital LLC now owns 640 shares of the Internet television network’s stock valued at $389,000 after acquiring an additional 198 shares during the period. Finally, Willis Johnson & Associates Inc. raised its stake in Netflix by 9.0% in the 1st quarter. Willis Johnson & Associates Inc. now owns 1,030 shares of the Internet television network’s stock valued at $626,000 after acquiring an additional 85 shares during the period. 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.