Netflix (NASDAQ:NFLX) PT Raised to $650.00

Netflix (NASDAQ:NFLX) had its price objective raised by Evercore ISI from $640.00 to $650.00 in a research report report published on Friday morning, Benzinga reports. The firm currently has an outperform rating on the Internet television network’s stock.

Several other brokerages have also recently issued reports on NFLX. Deutsche Bank Aktiengesellschaft increased their target price on Netflix from $525.00 to $550.00 and gave the company a hold rating in a research report on Monday, April 15th. Citigroup lifted their target price on Netflix from $555.00 to $660.00 and gave the company a neutral rating in a research note on Monday, March 25th. Macquarie raised their price target on shares of Netflix from $595.00 to $685.00 and gave the company an outperform rating in a report on Tuesday, April 16th. Needham & Company LLC raised shares of Netflix from a hold rating to a buy rating and set a $700.00 price objective on the stock in a research report on Friday. Finally, Piper Sandler increased their target price on shares of Netflix from $550.00 to $600.00 and gave the company a neutral rating in a research report on Friday, April 12th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $630.58.

Netflix Stock Performance

NFLX stock opened at $554.60 on Friday. Netflix has a 1-year low of $315.62 and a 1-year high of $639.00. The business has a 50-day moving average price of $605.58 and a 200 day moving average price of $516.27. The company has a market capitalization of $238.98 billion, a P/E ratio of 38.49, a PEG ratio of 1.49 and a beta of 1.22. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.12.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same quarter in the previous year, the business posted $2.88 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts forecast that Netflix will post 17.13 EPS for the current fiscal year.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the transaction, the insider now owns 31,610 shares in the company, valued at $17,575,476.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider David A. Hyman sold 47,574 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $17,575,476.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 268,335 shares of company stock valued at $151,619,811. Corporate insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On Netflix

Hedge funds and other institutional investors have recently bought and sold shares of the company. Indiana Trust & Investment Management CO boosted its position in Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares during the period. VitalStone Financial LLC raised its stake in shares of Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares in the last quarter. Scarborough Advisors LLC acquired a new stake in shares of Netflix in the fourth quarter valued at $32,000. Authentikos Wealth Advisory LLC purchased a new position in Netflix in the third quarter valued at $25,000. Finally, Beaird Harris Wealth Management LLC grew its stake in Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other 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.