KeyCorp Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX - Get Free Report) had its price objective lifted by research analysts at KeyCorp from $1,070.00 to $1,390.00 in a report released on Thursday, Marketbeat Ratings reports. The brokerage currently has an "overweight" rating on the Internet television network's stock. KeyCorp's price objective suggests a potential upside of 11.15% from the stock's current price.

Several other equities analysts have also recently weighed in on NFLX. Robert W. Baird raised their price objective on Netflix from $1,200.00 to $1,300.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Needham & Company LLC reissued a "buy" rating and issued a $1,126.00 price objective on shares of Netflix in a research report on Thursday, April 17th. Moffett Nathanson reiterated a "buy" rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Loop Capital reissued a "hold" rating on shares of Netflix in a research report on Monday, March 24th. Finally, Jefferies Financial Group raised their price objective on Netflix from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a research report on Tuesday, June 3rd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Netflix presently has an average rating of "Moderate Buy" and an average target price of $1,195.30.

Netflix Trading Down 2.9%

Shares of Netflix stock traded down $37.69 during trading on Thursday, reaching $1,250.59. 4,228,410 shares of the company were exchanged, compared to its average volume of 3,771,046. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix has a twelve month low of $587.04 and a twelve month high of $1,341.15. The firm has a market capitalization of $532.21 billion, a price-to-earnings ratio of 59.10, a P/E/G ratio of 2.34 and a beta of 1.59. The business has a 50-day moving average price of $1,217.58 and a 200-day moving average price of $1,044.54.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The company had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same quarter in the previous year, the business earned $8.28 EPS. Sell-side analysts anticipate that Netflix will post 24.58 EPS for the current fiscal year.

Insider Activity

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the sale, the chief financial officer owned 3,691 shares of the company's stock, valued at approximately $4,179,614.58. This trade represents a 41.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bradford L. Smith sold 3,919 shares of Netflix stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the completion of the transaction, the director owned 7,969 shares in the company, valued at approximately $8,959,227.94. This represents a 32.97% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 186,723 shares of company stock valued at $223,307,201. 1.37% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Hedge funds and other institutional investors have recently bought and sold shares of the company. Anderson Hoagland & Co. bought a new position in Netflix in the second quarter valued at about $213,000. Sterling Financial Group Inc. acquired a new stake in Netflix during the 2nd quarter worth approximately $205,000. White Wing Wealth Management bought a new stake in Netflix during the 2nd quarter worth approximately $256,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Netflix in the second quarter worth $558,000. Finally, Three Seasons Wealth LLC increased its stake in shares of Netflix by 5.9% in the second quarter. Three Seasons Wealth LLC now owns 2,074 shares of the Internet television network's stock valued at $2,777,000 after buying an additional 116 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.