Netflix (NASDAQ:NFLX) Price Target Increased to $650.00 by Analysts at Evercore ISI

Netflix (NASDAQ:NFLX) had its price objective hoisted by Evercore ISI from $640.00 to $650.00 in a research report report published on Friday morning, Benzinga reports. They currently have an outperform rating on the Internet television network’s stock.

A number of other equities research analysts have also issued reports on the stock. Benchmark restated a sell rating and set a $440.00 price target on shares of Netflix in a report on Thursday. Bank of America boosted their price objective on shares of Netflix from $585.00 to $650.00 and gave the company a buy rating in a research report on Wednesday, January 24th. Guggenheim boosted their price objective on shares of Netflix from $600.00 to $700.00 and gave the company a buy rating in a research report on Tuesday. Sanford C. Bernstein boosted their price objective on shares of Netflix from $490.00 to $600.00 and gave the company a market perform rating in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Netflix from $525.00 to $550.00 and gave the company a hold rating in a research report on Monday, April 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $630.58.

Netflix Stock Down 9.1 %

NASDAQ NFLX opened at $555.04 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. The company’s 50 day simple moving average is $605.65 and its 200 day simple moving average is $513.07. Netflix has a 12 month low of $315.62 and a 12 month high of $639.00. The company has a market capitalization of $240.20 billion, a P/E ratio of 38.52, a PEG ratio of 1.64 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.46%. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same quarter in the previous year, the business earned $2.88 earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. Equities research analysts expect that Netflix will post 17.08 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction dated 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 sale, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction dated 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 sale, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 267 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $17,575,476.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

A number of hedge funds have recently added to or reduced their stakes in the stock. KFA Private Wealth Group LLC grew its holdings in Netflix by 1.9% during the 4th quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock worth $466,000 after acquiring an additional 18 shares during the last quarter. Legacy Capital Group California Inc. grew its holdings in Netflix by 0.6% during the 4th quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock worth $1,379,000 after acquiring an additional 18 shares during the last quarter. Founders Financial Alliance LLC boosted its stake in shares of Netflix by 2.4% in the 4th quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock valued at $369,000 after purchasing an additional 18 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Netflix by 4.6% in the 1st quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock valued at $250,000 after purchasing an additional 18 shares during the last quarter. Finally, Addison Advisors LLC boosted its stake in shares of Netflix by 7.8% in the 4th quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock valued at $134,000 after purchasing an additional 20 shares during the last quarter. Institutional investors 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.