Netflix (NASDAQ:NFLX) Price Target Raised to $1,000.00 at Bank of America

Netflix (NASDAQ:NFLX) had its price objective lifted by Bank of America from $800.00 to $1,000.00 in a research report released on Thursday,Benzinga reports. The firm currently has a buy rating on the Internet television network’s stock.

A number of other equities research analysts have also weighed in on NFLX. Guggenheim boosted their price objective on Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC upped their price objective on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Rosenblatt Securities lifted their target price on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. UBS Group upped their price target on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Wolfe Research reaffirmed an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $764.82.

Netflix Stock Up 0.0 %

NFLX stock opened at $897.79 on Thursday. The firm has a 50-day moving average price of $755.40 and a 200-day moving average price of $691.50. Netflix has a 12 month low of $445.73 and a 12 month high of $908.00. 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 stock has a market capitalization of $383.77 billion, a P/E ratio of 50.81, a price-to-earnings-growth ratio of 1.73 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating 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 business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. As a group, equities research analysts anticipate that Netflix will post 19.78 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at $60,023.60. This trade represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,866 shares of company stock valued at $133,393,921. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several institutional investors and hedge funds have recently added to or reduced their stakes in NFLX. Denver PWM LLC purchased a new position in Netflix in the second quarter worth $25,000. RPg Family Wealth Advisory LLC bought a new position in Netflix during the third quarter valued at about $25,000. Proffitt & Goodson Inc. increased its holdings in Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after buying an additional 38 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its position in 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 acquiring an additional 42 shares during the period. Finally, AlphaMark Advisors LLC raised its position in Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares during the period. Hedge funds and other 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.