Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Netflix (NASDAQ:NFLX - Get Free Report) had its target price increased by analysts at Canaccord Genuity Group from $1,200.00 to $1,380.00 in a report released on Friday,Benzinga reports. The firm currently has a "buy" rating on the Internet television network's stock. Canaccord Genuity Group's target price would indicate a potential upside of 17.15% from the stock's current price.

NFLX has been the subject of several other reports. Loop Capital restated a "hold" rating on shares of Netflix in a research report on Monday, March 24th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Netflix from $650.00 to $875.00 and gave the company a "hold" rating in a research report on Wednesday, January 22nd. Phillip Securities upgraded shares of Netflix from a "moderate sell" rating to a "hold" rating in a report on Monday, April 21st. Wolfe Research upgraded shares of Netflix from a "peer perform" rating to an "outperform" rating and set a $1,100.00 target price for the company in a report on Thursday, January 23rd. Finally, Wedbush restated an "outperform" rating and set a $1,200.00 price target on shares of Netflix in a research report on Monday, May 5th. Ten equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,090.36.

Netflix Stock Performance

NASDAQ NFLX opened at $1,177.98 on Friday. Netflix has a 1-year low of $587.04 and a 1-year high of $1,191.53. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The stock's 50 day simple moving average is $1,003.42 and its 200-day simple moving average is $942.62. The company has a market cap of $501.31 billion, a PE ratio of 59.40, a price-to-earnings-growth ratio of 2.12 and a beta of 1.58.

Netflix (NASDAQ:NFLX - Get Free Report) last released its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping analysts' consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. During the same period last year, the company posted $8.28 EPS. As a group, equities research analysts anticipate that Netflix will post 24.58 EPS for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, Director Jay C. Hoag sold 32,515 shares of the stock in a transaction on 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 sale, the director now directly owns 79,040 shares of the company's stock, valued at approximately $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ann Mather sold 1,358 shares of Netflix stock in a transaction dated 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 132,868 shares of company stock valued at $138,483,256 over the last 90 days. Corporate insiders own 1.76% of the company's stock.

Hedge Funds Weigh In On Netflix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFLX. Vanguard Group Inc. lifted its position in Netflix by 1.4% in the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network's stock worth $35,433,585,000 after purchasing an additional 509,255 shares during the period. FMR LLC increased its holdings in shares of Netflix by 1.8% in the fourth quarter. FMR LLC now owns 20,887,090 shares of the Internet television network's stock valued at $18,617,081,000 after buying an additional 375,234 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Netflix by 2.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network's stock worth $10,940,505,000 after purchasing an additional 304,399 shares in the last quarter. Geode Capital Management LLC lifted its stake in Netflix by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network's stock valued at $8,287,823,000 after buying an additional 175,596 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of 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. 80.93% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.