Netflix (NASDAQ:NFLX) Reaches New 12-Month High on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLXGet Free Report) shares hit a new 52-week high on Wednesday after Evercore ISI raised their price target on the stock from $650.00 to $700.00. Evercore ISI currently has an outperform rating on the stock. Netflix traded as high as $656.78 and last traded at $655.15, with a volume of 426674 shares trading hands. The stock had previously closed at $649.00.

NFLX has been the topic of several other research reports. Wedbush reissued an “outperform” rating and issued a $725.00 target price on shares of Netflix in a research note on Monday, May 20th. BMO Capital Markets reiterated an “outperform” rating and set a $713.00 target price (up from $638.00) on shares of Netflix in a report on Wednesday, April 17th. Guggenheim increased their target price on shares of Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. Barclays increased their target price on shares of Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 9th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $700.00 target price on shares of Netflix in a report on Friday, May 17th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $632.00.

Read Our Latest Stock Analysis on Netflix

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 18,494 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $611.22, for a total value of $11,303,902.68. Following the sale, the chairman now owns 28 shares of the company’s stock, valued at $17,114.16. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Netflix news, CEO Gregory K. Peters sold 5,352 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,181,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 18,494 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $611.22, for a total transaction of $11,303,902.68. Following the transaction, the chairman now owns 28 shares in the company, valued at $17,114.16. The disclosure for this sale can be found here. Insiders have sold a total of 68,545 shares of company stock valued at $40,704,683 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently modified their holdings of the business. Columbia Trust Co 01012016 grew its position in Netflix by 15.3% in the 4th quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock valued at $762,000 after buying an additional 208 shares during the last quarter. Crumly & Associates Inc. grew its position in Netflix by 4.1% in the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock valued at $1,025,000 after buying an additional 83 shares during the last quarter. Venture Visionary Partners LLC grew its position in Netflix by 15.4% in the 4th quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock valued at $4,795,000 after buying an additional 1,318 shares during the last quarter. Sandy Cove Advisors LLC grew its position in Netflix by 10.6% in the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock valued at $578,000 after buying an additional 114 shares during the last quarter. Finally, Malaga Cove Capital LLC grew its position in Netflix by 25.4% in the 4th quarter. Malaga Cove Capital LLC now owns 1,562 shares of the Internet television network’s stock valued at $761,000 after buying an additional 316 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Trading Up 1.1 %

The business’s 50-day moving average is $608.73 and its two-hundred day moving average is $553.43. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market capitalization of $282.91 billion, a PE ratio of 45.04, a price-to-earnings-growth ratio of 1.40 and a beta of 1.23.

Netflix (NASDAQ:NFLXGet Free Report) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter last year, the company earned $2.88 earnings per share. Netflix’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Netflix, Inc. will post 18.31 earnings per share for the current year.

Netflix Company Profile

(Get Free Report)

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.

Further Reading

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