JPMorgan Chase & Co. Raises Netflix (NASDAQ:NFLX) Price Target to $1,300.00

Netflix (NASDAQ:NFLX - Free Report) had its price objective upped by JPMorgan Chase & Co. from $1,230.00 to $1,300.00 in a research note released on Friday morning,Benzinga reports. The firm currently has a neutral rating on the Internet television network's stock.

A number of other research analysts have also recently weighed in on the company. Morgan Stanley raised their price target on Netflix from $1,450.00 to $1,500.00 and gave the company an "overweight" rating in a research report on Friday. Loop Capital reiterated a "hold" rating on shares of Netflix in a research report on Tuesday, July 15th. Moffett Nathanson reiterated a "buy" rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. BMO Capital Markets reiterated an "outperform" rating and set a $1,425.00 price objective (up previously from $1,200.00) on shares of Netflix in a research report on Tuesday, July 15th. Finally, Wedbush reiterated an "outperform" rating and set a $1,500.00 price objective (up previously from $1,400.00) on shares of Netflix in a research report on Monday, July 14th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $1,291.41.

Netflix Stock Performance

Shares of Netflix stock traded down $64.93 during trading hours on Friday, hitting $1,209.24. 10,678,762 shares of the company were exchanged, compared to its average volume of 3,762,863. Netflix has a 1 year low of $587.04 and a 1 year high of $1,341.15. 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 business has a 50-day moving average of $1,232.59 and a 200-day moving average of $1,061.94. The stock has a market capitalization of $514.62 billion, a price-to-earnings ratio of 51.52, a P/E/G ratio of 2.19 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.07 by $0.12. The firm had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. Netflix had a return on equity of 43.00% and a net margin of 24.58%. Netflix's revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.88 earnings per share. As a group, analysts expect that Netflix will post 24.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Reed Hastings sold 16,840 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,295.78, for a total transaction of $21,820,935.20. Following the completion of the transaction, the director owned 10,067 shares in the company, valued at $13,044,617.26. The trade was a 62.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the transaction, the director owned 63,040 shares of the company's stock, valued at $78,948,144. This trade represents a 33.50% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders 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

Several large investors have recently bought and sold shares of NFLX. CHURCHILL MANAGEMENT Corp boosted its stake in Netflix by 15.3% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 38,067 shares of the Internet television network's stock valued at $50,977,000 after purchasing an additional 5,040 shares during the period. Wiser Wealth Management Inc increased its holdings in Netflix by 8.6% during the 2nd quarter. Wiser Wealth Management Inc now owns 266 shares of the Internet television network's stock valued at $356,000 after purchasing an additional 21 shares in the last quarter. EWA LLC increased its holdings in Netflix by 7.2% during the 2nd quarter. EWA LLC now owns 746 shares of the Internet television network's stock valued at $999,000 after purchasing an additional 50 shares in the last quarter. Tanager Wealth Management LLP boosted its position in Netflix by 3.2% in the 2nd quarter. Tanager Wealth Management LLP now owns 358 shares of the Internet television network's stock valued at $479,000 after buying an additional 11 shares during the last quarter. Finally, Warren Street Wealth Advisors LLC boosted its position in Netflix by 3.4% in the 2nd quarter. Warren Street Wealth Advisors LLC now owns 855 shares of the Internet television network's stock valued at $1,145,000 after buying an additional 28 shares during the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.