JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX - Free Report) had its target price hoisted by JPMorgan Chase & Co. from $1,220.00 to $1,230.00 in a research note released on Friday,Benzinga reports. The firm currently has a neutral rating on the Internet television network's stock.

A number of other research analysts also recently commented on the company. Pivotal Research reissued a "buy" rating on shares of Netflix in a report on Thursday. Loop Capital restated a "hold" rating on shares of Netflix in a research note on Monday, March 24th. Canaccord Genuity Group reiterated a "buy" rating on shares of Netflix in a research note on Thursday. Phillip Securities raised shares of Netflix from a "moderate sell" rating to a "hold" rating in a report on Monday, April 21st. Finally, Wells Fargo & Company upped their target price on shares of Netflix from $1,222.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. One equities research 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 assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $1,214.52.

Netflix Stock Down 0.4%

Shares of NASDAQ NFLX traded down $5.48 during trading on Friday, reaching $1,245.11. 3,948,915 shares of the stock were exchanged, compared to its average volume of 3,766,443. The company has a market capitalization of $529.88 billion, a price-to-earnings ratio of 58.84, a price-to-earnings-growth ratio of 2.27 and a beta of 1.59. The business's 50-day moving average price is $1,221.70 and its 200 day moving average price is $1,049.04. 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.

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

Insider Transactions at Netflix

In other news, Director Bradford L. Smith sold 3,919 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the sale, the director owned 7,969 shares of the company's stock, valued at approximately $8,959,227.94. The trade was a 32.97% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Reed Hastings sold 26,977 shares of the firm's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the transaction, the director directly owned 394 shares of the company's stock, valued at $446,421.70. This represents a 98.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 186,723 shares of company stock valued at $223,307,201. Company insiders own 1.37% of the company's stock.

Institutional Investors Weigh In On Netflix

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Brighton Jones LLC increased its position in shares of Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock worth $4,804,000 after acquiring an additional 257 shares in the last quarter. Revolve Wealth Partners LLC grew its position in Netflix by 16.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock worth $912,000 after purchasing an additional 144 shares in the last quarter. BIP Wealth LLC raised its stake in Netflix by 23.8% during the 4th quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after purchasing an additional 87 shares during the period. Proficio Capital Partners LLC raised its stake in Netflix by 39.1% during the 4th quarter. Proficio Capital Partners LLC now owns 2,161 shares of the Internet television network's stock valued at $1,926,000 after purchasing an additional 607 shares during the period. Finally, Parnassus Investments LLC lifted its holdings in shares of Netflix by 8.7% in the fourth quarter. Parnassus Investments LLC now owns 1,234 shares of the Internet television network's stock valued at $1,100,000 after purchasing an additional 99 shares in the last quarter. Institutional investors and hedge funds 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.