Oppenheimer Raises Netflix (NASDAQ:NFLX) Price Target to $1,425.00

Netflix (NASDAQ:NFLX - Get Free Report) had its price target boosted by analysts at Oppenheimer from $1,200.00 to $1,425.00 in a research report issued on Thursday, Marketbeat reports. The firm currently has an "outperform" rating on the Internet television network's stock. Oppenheimer's target price indicates a potential upside of 17.56% from the company's current price.

Other research analysts have also issued reports about the stock. Citigroup reissued a "neutral" rating and set a $1,250.00 price objective (up from $1,020.00) on shares of Netflix in a report on Thursday, May 29th. FBN Securities initiated coverage on shares of Netflix in a report on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective for the company. Macquarie raised their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Monday, April 21st. Wells Fargo & Company raised their price target on shares of Netflix from $1,210.00 to $1,222.00 and gave the stock an "overweight" rating in a research report on Monday, April 21st. Finally, Guggenheim restated a "buy" rating and issued a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $1,156.73.

Netflix Stock Down 0.2%

NASDAQ:NFLX traded down $2.88 during trading hours on Thursday, hitting $1,212.15. The stock had a trading volume of 2,209,188 shares, compared to its average volume of 3,761,170. 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 1-year low of $587.04 and a 1-year high of $1,262.81. The business has a 50 day simple moving average of $1,120.37 and a two-hundred day simple moving average of $1,000.96. The company has a market cap of $515.86 billion, a PE ratio of 61.13, a price-to-earnings-growth ratio of 2.12 and a beta of 1.59.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. During the same quarter last year, the company earned $8.28 earnings per share. Analysts predict that Netflix will post 24.58 EPS for the current year.

Insider Buying and Selling at Netflix

In other news, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the transaction, the director now owns 63,040 shares of the company's stock, valued at $78,948,144. The trade was a 33.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the transaction, the chairman now directly owns 394 shares in the company, valued at $362,933.10. This represents a 98.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,140 shares of company stock valued at $210,271,552. Company insiders own 1.37% of the company's stock.

Hedge Funds Weigh In On Netflix

Several hedge funds have recently made changes to their positions in NFLX. Fullcircle Wealth LLC increased its position in shares of Netflix by 2.5% in the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock worth $344,000 after acquiring an additional 9 shares in the last quarter. Capital Analysts LLC increased its position in shares of Netflix by 0.3% in the first quarter. Capital Analysts LLC now owns 2,620 shares of the Internet television network's stock worth $2,443,000 after acquiring an additional 9 shares in the last quarter. Enterprise Financial Services Corp increased its position in shares of Netflix by 1.8% in the first quarter. Enterprise Financial Services Corp now owns 505 shares of the Internet television network's stock worth $471,000 after acquiring an additional 9 shares in the last quarter. West Michigan Advisors LLC increased its position in shares of Netflix by 1.3% in the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock worth $692,000 after acquiring an additional 10 shares in the last quarter. Finally, Warwick Investment Management Inc. increased its position in shares of Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock worth $266,000 after acquiring an additional 10 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.