Netflix (NASDAQ:NFLX) Price Target Increased to $700.00 by Analysts at Guggenheim

Netflix (NASDAQ:NFLX) had its price target upped by Guggenheim from $600.00 to $700.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the Internet television network’s stock.

NFLX has been the topic of a number of other research reports. Morgan Stanley boosted their price objective on shares of Netflix from $600.00 to $700.00 and gave the company an overweight rating in a research report on Friday, April 12th. Citigroup upped their price target on shares of Netflix from $555.00 to $660.00 and gave the stock a neutral rating in a report on Monday, March 25th. Seaport Res Ptn cut shares of Netflix from a buy rating to a neutral rating in a report on Tuesday, January 30th. Jefferies Financial Group upped their price target on shares of Netflix from $580.00 to $700.00 and gave the stock a buy rating in a report on Tuesday, March 12th. Finally, The Goldman Sachs Group upped their price target on shares of Netflix from $500.00 to $565.00 and gave the stock a neutral rating in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, Netflix currently has an average rating of Moderate Buy and a consensus target price of $614.75.

Netflix Trading Down 0.5 %

NFLX stock opened at $610.56 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix has a twelve month low of $315.62 and a twelve month high of $639.00. The stock has a market capitalization of $264.23 billion, a price-to-earnings ratio of 50.84, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. The firm’s fifty day simple moving average is $605.77 and its two-hundred day simple moving average is $511.86.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the previous year, the business posted $2.88 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. As a group, analysts anticipate that Netflix will post 17.05 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares in the company, valued at approximately $17,091.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Netflix news, CEO Gregory K. Peters sold 5,352 shares of Netflix stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,181,250. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 20,566 shares of Netflix stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the sale, the chairman now owns 28 shares of the company’s stock, valued at $17,091.76. The disclosure for this sale can be found here. Insiders sold 268,335 shares of company stock worth $151,619,811 in the last three months. Corporate insiders own 2.45% of the company’s stock.

Institutional Trading of Netflix

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. Fairfield Bush & CO. lifted its stake in Netflix by 26.5% during the 1st quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock valued at $916,000 after acquiring an additional 512 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Netflix by 21.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock valued at $179,820,000 after purchasing an additional 84,179 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in shares of Netflix by 14.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock valued at $1,094,000 after purchasing an additional 363 shares in the last quarter. Candriam Luxembourg S.C.A. increased its holdings in shares of Netflix by 6.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock valued at $13,610,000 after purchasing an additional 2,358 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Netflix by 13.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock valued at $1,426,000 after purchasing an additional 441 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

About Netflix

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.