Netflix (NASDAQ:NFLX) Price Target Raised to $1,490.00 at Bank of America

Netflix (NASDAQ:NFLX - Free Report) had its price objective increased by Bank of America from $1,175.00 to $1,490.00 in a research report report published on Friday morning, MarketBeat.com reports. Bank of America currently has a buy rating on the Internet television network's stock.

Other equities analysts have also recently issued reports about the company. Wells Fargo & Company raised their target price on Netflix from $1,210.00 to $1,222.00 and gave the stock an "overweight" rating in a report on Monday, April 21st. Macquarie raised their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Morgan Stanley raised their price target on Netflix from $1,150.00 to $1,200.00 and gave the company an "overweight" rating in a report on Monday, April 21st. Pivotal Research raised their price target on Netflix from $1,250.00 to $1,350.00 and gave the company a "buy" rating in a report on Monday, April 21st. Finally, Moffett Nathanson reissued a "buy" rating and set a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,122.33.

Netflix Stock Up 1.5%

NFLX traded up $17.26 during trading on Friday, hitting $1,202.12. 4,686,095 shares of the company's stock traded hands, compared to its average volume of 3,758,665. The company's 50 day simple moving average is $1,059.27 and its two-hundred day simple moving average is $974.30. The stock has a market capitalization of $511.59 billion, a price-to-earnings ratio of 60.62, a PEG ratio of 2.12 and a beta of 1.58. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56. Netflix has a 12-month low of $587.04 and a 12-month high of $1,215.91.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its earnings results 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. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company had revenue of $10.54 billion for the quarter, compared to analysts' expectations of $10.51 billion. During the same period last year, the firm earned $8.28 EPS. Analysts predict that Netflix will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the sale, the chairman now owns 394 shares of the company's stock, valued at approximately $362,933.10. The trade was a 98.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ann Mather sold 1,358 shares of Netflix stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $1,150.00, for a total transaction of $1,561,700.00. The disclosure for this sale can be found here. Insiders sold 133,348 shares of company stock worth $139,087,908 over the last 90 days. Company insiders own 1.37% of the company's stock.

Institutional Trading of Netflix

Institutional investors and hedge funds have recently modified their holdings of the stock. Nova Wealth Management Inc. raised its stake in Netflix by 25.3% in the first quarter. Nova Wealth Management Inc. now owns 109 shares of the Internet television network's stock worth $102,000 after buying an additional 22 shares in the last quarter. Silicon Valley Capital Partners raised its stake in Netflix by 3.6% in the first quarter. Silicon Valley Capital Partners now owns 663 shares of the Internet television network's stock worth $619,000 after buying an additional 23 shares in the last quarter. Anderson Financial Strategies LLC bought a new position in Netflix in the first quarter worth approximately $374,000. Strs Ohio bought a new position in Netflix in the first quarter worth approximately $142,684,000. Finally, Ellsworth Advisors LLC raised its stake in Netflix by 28.2% in the first quarter. Ellsworth Advisors LLC now owns 1,065 shares of the Internet television network's stock worth $993,000 after buying an additional 234 shares in the last quarter. 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.