JPMorgan Chase & Co. Increases Netflix (NASDAQ:NFLX) Price Target to $1,150.00

Netflix (NASDAQ:NFLX) had its price objective raised by JPMorgan Chase & Co. from $1,000.00 to $1,150.00 in a report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the Internet television network’s stock.

Other equities analysts have also issued reports about the stock. Argus raised their price target on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Guggenheim raised their target price on shares of Netflix from $825.00 to $950.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Jefferies Financial Group upped their price target on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $680.00 to $1,494.00 in a research note on Wednesday. Finally, Barclays upped their target price on Netflix from $550.00 to $715.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 14th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $993.82.

Netflix Stock Up 9.7 %

NFLX stock opened at $953.99 on Wednesday. The stock has a market capitalization of $407.79 billion, a PE ratio of 53.99, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. Netflix has a 52 week low of $481.40 and a 52 week high of $999.00. 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 firm has a 50 day moving average of $886.64 and a 200 day moving average of $762.07.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. During the same period in the previous year, the company earned $2.11 earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. Sell-side analysts forecast that Netflix will post 19.76 earnings per share for the current year.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the transaction, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. The trade was a 0.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Barton sold 5,698 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the transaction, the director now directly owns 246 shares in the company, valued at approximately $185,976. The trade was a 95.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 152,198 shares of company stock worth $127,616,898 in the last ninety days. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of institutional investors have recently bought and sold shares of NFLX. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix during the 3rd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. grew 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. Decker Retirement Planning Inc. acquired a new stake in Netflix during the fourth quarter worth $43,000. MidAtlantic Capital Management Inc. purchased a new stake in Netflix in the third quarter valued at $37,000. Finally, FSA Wealth Management LLC acquired a new position in shares of Netflix in the 3rd quarter valued at $38,000. 80.93% of the stock is 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.