Pivotal Research Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX - Get Free Report) had its price objective boosted by equities researchers at Pivotal Research from $1,350.00 to $1,600.00 in a note issued to investors on Friday, MarketBeat reports. The brokerage presently has a "buy" rating on the Internet television network's stock. Pivotal Research's price objective would suggest a potential upside of 30.90% from the stock's previous close.

A number of other equities research analysts have also issued reports on NFLX. KeyCorp increased their price target on Netflix from $1,000.00 to $1,070.00 and gave the company an "overweight" rating in a research report on Monday, April 21st. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a research note on Thursday, May 15th. Phillip Securities raised shares of Netflix from a "moderate sell" rating to a "hold" rating in a research report on Monday, April 21st. UBS Group lifted their price objective on shares of Netflix from $1,150.00 to $1,450.00 and gave the stock a "buy" rating in a research report on Wednesday, June 4th. Finally, FBN Securities assumed coverage on shares of Netflix in a research note on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 target price for the company. Eleven analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $1,172.73.

Netflix Trading Up 0.1%

Shares of NFLX stock opened at $1,222.29 on Friday. Netflix has a fifty-two week low of $587.04 and a fifty-two week high of $1,262.81. The company has a 50 day moving average price of $1,144.53 and a 200 day moving average price of $1,008.57. The stock has a market capitalization of $520.17 billion, a P/E ratio of 57.76, a price-to-earnings-growth ratio of 2.36 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The company had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. During the same quarter last year, the company posted $8.28 EPS. Equities research analysts predict that Netflix will post 24.58 EPS for the current fiscal year.

Insider Activity

In other news, Director Jay C. Hoag sold 31,750 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $1,252.35, for a total transaction of $39,762,112.50. Following the transaction, the director now directly owns 63,040 shares in the company, valued at $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the transaction, the chief financial officer now directly owns 3,691 shares of the company's stock, valued at $3,402,068.52. This represents a 41.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

Institutional Trading of Netflix

Several hedge funds have recently modified their holdings of NFLX. Halbert Hargrove Global Advisors LLC boosted its position in shares of Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock worth $25,000 after purchasing an additional 13 shares in the last quarter. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix in the fourth quarter valued at about $27,000. Transce3nd LLC purchased a new stake in Netflix during the fourth quarter worth about $32,000. Copia Wealth Management acquired a new position in Netflix during the fourth quarter worth about $37,000. Finally, Flaharty Asset Management LLC purchased a new position in Netflix in the first quarter valued at about $37,000. 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.

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