Pivotal Research Increases Netflix (NASDAQ:NFLX) Price Target to $1,600.00

Netflix (NASDAQ:NFLX) had its price target hoisted by research analysts at Pivotal Research from $1,350.00 to $1,600.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm presently has a “buy” rating on the Internet television network’s stock. Pivotal Research’s target price indicates a potential upside of 30.90% from the stock’s previous close.

Several other equities analysts also recently issued reports on the stock. Morgan Stanley upped their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, April 21st. JPMorgan Chase & Co. reissued a “neutral” rating and set a $1,220.00 price target (up previously from $1,150.00) on shares of Netflix in a research note on Monday, May 19th. Needham & Company LLC restated a “buy” rating and set a $1,126.00 price objective on shares of Netflix in a report on Thursday, April 17th. Wedbush reiterated an “outperform” rating and issued a $1,200.00 target price on shares of Netflix in a research note on Monday, May 5th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $1,200.00 price target (up from $1,175.00) on shares of Netflix in a research note on Friday, April 18th. Eleven equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,172.73.

Netflix Stock Up 0.1%

NFLX stock opened at $1,222.29 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. Netflix has a 12 month low of $587.04 and a 12 month high of $1,262.81. The firm has a market capitalization of $520.17 billion, a PE ratio of 57.76, a P/E/G ratio of 2.36 and a beta of 1.59. The company’s 50 day simple moving average is $1,144.53 and its 200-day simple moving average is $1,008.57.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion during the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 23.07% and a return on equity of 39.61%. During the same quarter in the previous year, the company posted $8.28 EPS. Equities analysts expect that Netflix will post 24.58 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, Director Jay C. Hoag sold 31,750 shares of Netflix stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $1,252.35, for a total value of $39,762,112.50. Following the completion of the transaction, the director now directly owns 63,040 shares in the company, valued at $78,948,144. The trade was a 33.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Cletus R. Willems sold 298 shares of the company’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $1,138.00, for a total value of $339,124.00. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $35,972,180. This trade represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 185,140 shares of company stock worth $210,271,552 in the last ninety days. 1.37% 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 NFLX. Fullcircle Wealth LLC boosted its holdings in shares of Netflix by 2.5% during the first quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network’s stock valued at $344,000 after acquiring an additional 9 shares during the period. Capital Analysts LLC boosted its stake in Netflix by 0.3% during the 1st quarter. Capital Analysts LLC now owns 2,620 shares of the Internet television network’s stock valued at $2,443,000 after purchasing an additional 9 shares during the period. Enterprise Financial Services Corp grew its position in Netflix by 1.8% in the 1st quarter. Enterprise Financial Services Corp now owns 505 shares of the Internet television network’s stock worth $471,000 after purchasing an additional 9 shares during the last quarter. West Michigan Advisors LLC increased its stake in shares of Netflix by 1.3% in the fourth quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network’s stock valued at $692,000 after purchasing an additional 10 shares during the period. Finally, Warwick Investment Management Inc. raised its holdings in shares of Netflix by 3.5% during the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network’s stock valued at $266,000 after buying an additional 10 shares during the last quarter. Institutional investors and hedge funds 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.