Needham & Company LLC Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its price target hoisted by Needham & Company LLC from $1,126.00 to $1,500.00 in a research report released on Friday,Benzinga reports. Needham & Company LLC currently has a buy rating on the Internet television network’s stock.

Several other research analysts have also issued reports on NFLX. Macquarie raised their target price on Netflix from $1,150.00 to $1,200.00 and gave the stock an “outperform” rating in a research report on Monday, April 21st. Seaport Res Ptn lowered Netflix from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 6th. Wedbush reissued an “outperform” rating and issued a $1,200.00 price objective on shares of Netflix in a research report on Monday, May 5th. Jefferies Financial Group lifted their price objective on Netflix from $1,200.00 to $1,400.00 and gave the stock a “buy” rating in a research report on Tuesday, June 3rd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $1,200.00 price objective (up from $1,175.00) on shares of Netflix in a research report on Friday, April 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,214.52.

Netflix Stock Down 0.4%

Shares of NASDAQ:NFLX opened at $1,245.11 on Friday. The firm has a market cap of $529.88 billion, a P/E ratio of 58.84, a P/E/G ratio of 2.27 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. Netflix has a 12-month low of $587.04 and a 12-month high of $1,341.15. The business has a fifty day simple moving average of $1,221.70 and a 200 day simple moving average of $1,049.04.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period last year, the company earned $8.28 EPS. Analysts predict that Netflix will post 24.58 earnings per share for the current year.

Insider Transactions at Netflix

In related news, Director Jay C. Hoag sold 32,515 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the transaction, the director owned 79,040 shares in the company, valued at approximately $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of the company’s stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the completion of the transaction, the chief financial officer owned 3,691 shares in the company, valued at approximately $4,179,614.58. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 186,723 shares of company stock worth $223,307,201 in the last ninety days. Company insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several institutional investors have recently bought and sold shares of NFLX. Fullcircle Wealth LLC lifted its position 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 worth $344,000 after acquiring an additional 9 shares in the last quarter. Capital Analysts LLC lifted its position in shares of Netflix by 0.3% during the first quarter. Capital Analysts LLC now owns 2,620 shares of the Internet television network’s stock worth $2,443,000 after acquiring an additional 9 shares in the last quarter. Enterprise Financial Services Corp lifted its position in shares of Netflix by 1.8% during the first quarter. Enterprise Financial Services Corp now owns 505 shares of the Internet television network’s stock worth $471,000 after acquiring an additional 9 shares in the last quarter. Sunpointe LLC lifted its position in shares of Netflix by 1.4% during the second quarter. Sunpointe LLC now owns 644 shares of the Internet television network’s stock worth $862,000 after acquiring an additional 9 shares in the last quarter. Finally, Deane Retirement Strategies Inc. lifted its position in shares of Netflix by 0.3% during the second quarter. Deane Retirement Strategies Inc. now owns 3,440 shares of the Internet television network’s stock worth $4,604,000 after acquiring an additional 9 shares in the last quarter. Hedge funds and other 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.