Macquarie Increases Netflix (NASDAQ:NFLX) Price Target to $965.00

Netflix (NASDAQ:NFLX) had its price target lifted by analysts at Macquarie from $795.00 to $965.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “outperform” rating on the Internet television network’s stock. Macquarie’s target price would suggest a potential upside of 15.51% from the stock’s current price.

NFLX has been the subject of a number of other reports. BMO Capital Markets reiterated an “outperform” rating and issued a $825.00 price objective (up from $770.00) on shares of Netflix in a report on Friday, October 18th. KeyCorp increased their price target on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. TD Cowen lifted their price target on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Oppenheimer upped their price objective on shares of Netflix from $825.00 to $1,065.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average price target of $832.94.

Netflix Stock Performance

NFLX stock traded down $2.28 during mid-day trading on Monday, hitting $835.41. The company had a trading volume of 1,705,488 shares, compared to its average volume of 2,875,430. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $357.10 billion, a PE ratio of 47.28, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. Netflix has a 12 month low of $475.26 and a 12 month high of $941.75. The stock’s fifty day moving average price is $878.06 and its two-hundred day moving average price is $753.78.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, analysts forecast that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Hyman sold 267 shares of the company’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 completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 156,742 shares of company stock valued at $131,030,268 in the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several hedge funds have recently modified their holdings of the stock. Thoroughbred Financial Services LLC grew its holdings in Netflix by 99.1% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 1,802 shares of the Internet television network’s stock valued at $1,216,000 after buying an additional 897 shares in the last quarter. Redwood Wealth Management Group LLC bought a new stake in shares of Netflix in the 2nd quarter worth about $145,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Netflix by 11.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 4,142 shares of the Internet television network’s stock valued at $2,795,000 after acquiring an additional 431 shares during the last quarter. Fairfield Financial Advisors LTD bought a new stake in Netflix during the second quarter worth approximately $82,000. Finally, Angeles Investment Advisors LLC raised its position in Netflix by 19.3% during the second quarter. Angeles Investment Advisors LLC now owns 1,099 shares of the Internet television network’s stock valued at $742,000 after purchasing an additional 178 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.