Needham & Company LLC Raises Netflix (NASDAQ:NFLX) Price Target to $1,500.00

Netflix (NASDAQ:NFLX - Get Free Report) had its price target lifted by analysts at Needham & Company LLC from $1,126.00 to $1,500.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the Internet television network's stock. Needham & Company LLC's price target indicates a potential upside of 19.94% from the stock's previous close.

A number of other research analysts have also recently weighed in on NFLX. Wedbush reiterated an "outperform" rating and set a $1,200.00 price objective on shares of Netflix in a research report on Monday, May 5th. Macquarie upped their price target on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. JPMorgan Chase & Co. restated a "neutral" rating and issued a $1,220.00 price target (up from $1,150.00) on shares of Netflix in a report on Monday, May 19th. Robert W. Baird upped their price target on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Finally, Oppenheimer upped their price target on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an "outperform" rating in a report on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Netflix has an average rating of "Moderate Buy" and a consensus price target of $1,206.64.

Netflix Trading Down 2.9%

NFLX stock opened at $1,250.59 on Friday. 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 stock has a market capitalization of $532.21 billion, a price-to-earnings ratio of 59.10, a price-to-earnings-growth ratio of 2.34 and a beta of 1.59. The firm's fifty day simple moving average is $1,219.93 and its two-hundred day simple moving average is $1,046.88.

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

Insiders Place Their Bets

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the sale, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,824,949.02. This represents a 41.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ann Mather sold 1,090 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,250.00, for a total value of $1,362,500.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 186,723 shares of company stock worth $223,307,201. Corporate insiders own 1.37% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Netflix by 33.4% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 16,541 shares of the Internet television network's stock valued at $22,137,000 after buying an additional 4,140 shares in the last quarter. Kingstone Capital Partners Texas LLC boosted its stake in Netflix by 343,058.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 2,463,876 shares of the Internet television network's stock worth $3,299,450,000 after purchasing an additional 2,463,158 shares during the last quarter. IFM Investors Pty Ltd boosted its stake in Netflix by 4.3% during the 2nd quarter. IFM Investors Pty Ltd now owns 82,889 shares of the Internet television network's stock worth $110,999,000 after purchasing an additional 3,439 shares during the last quarter. Anderson Hoagland & Co. purchased a new stake in shares of Netflix during the second quarter worth $213,000. Finally, Sterling Financial Group Inc. acquired a new stake in shares of Netflix in the second quarter valued at about $205,000. 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.

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