Netflix (NASDAQ:NFLX) Price Target Raised to $726.00

Netflix (NASDAQ:NFLX) had its price target increased by research analysts at Wells Fargo & Company from $650.00 to $726.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the Internet television network’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 18.91% from the company’s previous close.

A number of other equities research analysts also recently commented on NFLX. Robert W. Baird increased their price objective on Netflix from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Canaccord Genuity Group increased their target price on Netflix from $575.00 to $625.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. KeyCorp increased their target price on Netflix from $580.00 to $705.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Evercore ISI increased their target price on Netflix from $600.00 to $640.00 and gave the company an “outperform” rating in a report on Thursday, March 14th. Finally, TD Cowen increased their target price on Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average target price of $628.76.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $610.56 on Friday. The stock has a fifty day moving average price of $605.77 and a two-hundred day moving average price of $511.86. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market cap of $264.23 billion, a P/E ratio of 50.84, 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 issued 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. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The firm’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company posted $2.88 EPS. Research analysts forecast that Netflix will post 17.05 EPS for the current fiscal year.

Insider Activity

In related news, Director Ann Mather sold 3,673 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $2,203,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider David A. Hyman sold 47,574 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $17,003,651.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ann Mather sold 3,673 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $2,203,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KFA Private Wealth Group LLC lifted its stake in Netflix by 1.9% during the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock worth $466,000 after purchasing an additional 18 shares during the period. Legacy Capital Group California Inc. lifted its stake in Netflix by 0.6% during the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock worth $1,379,000 after purchasing an additional 18 shares during the period. Founders Financial Alliance LLC lifted its stake in Netflix by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after purchasing an additional 18 shares during the period. Capital Advisors Ltd. LLC lifted its stake in Netflix by 4.6% during the first quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock worth $250,000 after purchasing an additional 18 shares during the period. Finally, Addison Advisors LLC lifted its stake in Netflix by 7.8% during the fourth quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock worth $134,000 after purchasing an additional 20 shares during the period. Institutional investors own 80.93% of the company’s stock.

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.