Netflix (NASDAQ:NFLX) Price Target Raised to $1,500.00

Netflix (NASDAQ:NFLX - Get Free Report) had its price target lifted by investment analysts at Wells Fargo & Company from $1,222.00 to $1,500.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "overweight" rating on the Internet television network's stock. Wells Fargo & Company's target price suggests a potential upside of 22.72% from the stock's current price.

Several other brokerages have also recently issued reports on NFLX. Wolfe Research set a $1,340.00 price objective on Netflix and gave the company an "outperform" rating in a report on Friday, May 16th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $1,220.00 price objective (up previously from $1,150.00) on shares of Netflix in a research report on Monday, May 19th. Citigroup reaffirmed a "neutral" rating and set a $1,250.00 target price (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. Cfra Research upgraded shares of Netflix to a "strong-buy" rating in a research report on Monday, April 28th. Finally, Bank of America upped their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $1,172.73.

Netflix Price Performance

NASDAQ NFLX opened at $1,222.29 on Friday. Netflix has a 12-month low of $587.04 and a 12-month high of $1,262.81. The firm's fifty day simple moving average is $1,144.53 and its two-hundred day simple moving average is $1,008.57. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $520.17 billion, a P/E ratio of 57.76, a P/E/G ratio of 2.36 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last announced 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. 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 period in the previous year, the company earned $8.28 earnings per share. Analysts forecast that Netflix will post 24.58 EPS for the current fiscal year.

Insider Activity

In other news, Director Jay C. Hoag sold 32,515 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the transaction, the director now directly owns 79,040 shares in the company, valued at $87,099,708.80. This represents a 29.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cletus R. Willems sold 298 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total transaction of $339,124.00. Following the completion of the sale, the insider now owns 31,610 shares of the company's stock, valued at approximately $35,972,180. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 185,140 shares of company stock valued at $210,271,552 over the last 90 days. Insiders own 1.37% of the company's stock.

Hedge Funds Weigh In On Netflix

A number of large investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in Netflix by 109,524.3% during the first quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network's stock valued at $8,239,576,000 after acquiring an additional 8,827,662 shares during the period. Norges Bank acquired a new position in shares of Netflix in the 4th quarter valued at about $5,019,087,000. Nuveen LLC acquired a new stake in Netflix during the 1st quarter worth approximately $2,385,585,000. Proficio Capital Partners LLC increased its position in Netflix by 123,836.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network's stock worth $1,716,662,000 after purchasing an additional 1,924,423 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Netflix by 57.3% in the first quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network's stock valued at $3,164,134,000 after buying an additional 1,236,251 shares during the period. Hedge funds and other 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.

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