Evercore ISI Increases Netflix (NASDAQ:NFLX) Price Target to $650.00

Netflix (NASDAQ:NFLX) had its target price hoisted by investment analysts at Evercore ISI from $640.00 to $650.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “outperform” rating on the Internet television network’s stock. Evercore ISI’s price target suggests a potential upside of 16.59% from the stock’s previous close.

Several other analysts have also recently issued reports on NFLX. Wedbush restated an “outperform” rating and set a $725.00 target price on shares of Netflix in a research report on Friday. Seaport Res Ptn cut shares of Netflix from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 30th. Piper Sandler increased their price objective on shares of Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research report on Friday, April 12th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Netflix from $525.00 to $550.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Pivotal Research increased their price objective on shares of Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $630.58.

Netflix Price Performance

Shares of NASDAQ NFLX traded down $53.05 during mid-day trading on Friday, hitting $557.51. 11,640,996 shares of the company’s stock traded hands, compared to its average volume of 4,387,285. The company’s 50-day moving average is $605.77 and its two-hundred day moving average is $511.86. 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 has a market capitalization of $241.27 billion, a P/E ratio of 46.42, a PEG ratio of 1.65 and a beta of 1.22. Netflix has a 1 year low of $315.62 and a 1 year high of $639.00.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.77. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The business’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.88 EPS. On average, equities analysts anticipate that Netflix will post 17.05 EPS for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction 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 transaction, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $17,575,476.10. The disclosure for this sale can be found here. In the last three months, insiders have sold 268,335 shares of company stock valued at $151,619,811. Insiders own 2.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NFLX. Evolution Wealth Advisors LLC lifted its stake in shares of Netflix by 21.1% in the 1st quarter. Evolution Wealth Advisors LLC now owns 625 shares of the Internet television network’s stock worth $380,000 after acquiring an additional 109 shares during the period. SeaCrest Wealth Management LLC lifted its stake in shares of Netflix by 10.8% in the 1st quarter. SeaCrest Wealth Management LLC now owns 3,752 shares of the Internet television network’s stock worth $2,279,000 after acquiring an additional 365 shares during the period. Naviter Wealth LLC lifted its stake in shares of Netflix by 12.0% in the 1st quarter. Naviter Wealth LLC now owns 2,592 shares of the Internet television network’s stock worth $1,574,000 after acquiring an additional 277 shares during the period. Nvest Financial LLC lifted its stake in shares of Netflix by 18.3% in the 1st quarter. Nvest Financial LLC now owns 1,982 shares of the Internet television network’s stock worth $1,204,000 after acquiring an additional 306 shares during the period. Finally, State of Michigan Retirement System lifted its stake in shares of Netflix by 13.9% in the 1st quarter. State of Michigan Retirement System now owns 153,149 shares of the Internet television network’s stock worth $93,012,000 after acquiring an additional 18,700 shares during the period. 80.93% of the stock is owned by hedge funds and other 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.