TD Cowen Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX - Get Free Report) had its target price increased by stock analysts at TD Cowen from $1,440.00 to $1,450.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the Internet television network's stock. TD Cowen's price objective suggests a potential upside of 19.46% from the company's current price.

Several other brokerages also recently issued reports on NFLX. Wells Fargo & Company boosted their price target on shares of Netflix from $1,222.00 to $1,500.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Morgan Stanley lifted their price objective on shares of Netflix from $1,450.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Friday. FBN Securities began coverage on shares of Netflix in a research note on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective on the stock. Barclays restated a "sell" rating and set a $1,100.00 price objective (up from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Finally, Bank of America lifted their price objective on shares of Netflix from $1,175.00 to $1,490.00 and gave the company a "buy" rating in a research note on Friday, May 30th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Netflix currently has an average rating of "Moderate Buy" and a consensus price target of $1,263.94.

Netflix Stock Down 4.7%

Shares of NASDAQ:NFLX traded down $60.38 during midday trading on Friday, reaching $1,213.79. The company had a trading volume of 2,122,219 shares, compared to its average volume of 3,772,961. The stock has a market capitalization of $516.55 billion, a P/E ratio of 57.43, a PEG ratio of 2.26 and a beta of 1.59. The stock's fifty day moving average price is $1,231.20 and its 200-day moving average price is $1,058.57. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. Netflix has a one year low of $587.04 and a one year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping analysts' consensus estimates of $7.07 by $0.12. The firm had revenue of $11.08 billion during the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The firm's revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.88 earnings per share. Equities research analysts expect that Netflix will post 24.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 32,515 shares of Netflix stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the transaction, the director owned 79,040 shares in the company, valued at $87,099,708.80. The trade was a 29.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Reed Hastings sold 26,977 shares of Netflix stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the completion of the sale, the director directly owned 394 shares in the company, valued at approximately $446,421.70. This represents a 98.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 186,723 shares of company stock worth $223,307,201. Company insiders own 1.37% of the company's stock.

Institutional Trading of Netflix

Several institutional investors have recently added to or reduced their stakes in NFLX. Janus Henderson Group PLC lifted its position in shares of Netflix by 8.7% during the 4th quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network's stock valued at $1,227,468,000 after acquiring an additional 110,432 shares during the period. PharVision Advisers LLC bought a new position in Netflix in the fourth quarter valued at about $873,000. New England Research & Management Inc. raised its position in shares of Netflix by 148.5% during the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network's stock worth $1,979,000 after acquiring an additional 1,268 shares during the last quarter. Xcel Wealth Management LLC raised its position in shares of Netflix by 15.2% during the first quarter. Xcel Wealth Management LLC now owns 492 shares of the Internet television network's stock worth $459,000 after acquiring an additional 65 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Netflix by 6.1% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network's stock valued at $50,952,000 after buying an additional 3,137 shares during the period. 80.93% of the stock is currently 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.

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