Macquarie Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX) had its price target increased by research analysts at Macquarie from $965.00 to $1,150.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the Internet television network’s stock. Macquarie’s target price would suggest a potential upside of 16.77% from the company’s current price.

Several other research analysts have also weighed in on the stock. TD Cowen raised their price objective on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Bank of America upped their price objective on Netflix from $800.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $680.00 to $1,494.00 in a research report on Wednesday. Argus upped their price target on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $996.94.

Netflix Stock Up 3.2 %

Shares of NASDAQ NFLX opened at $984.86 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix has a 1 year low of $537.07 and a 1 year high of $999.00. The stock’s 50-day simple moving average is $889.11 and its 200-day simple moving average is $763.41. The firm has a market cap of $420.99 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 1.41 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a return on equity of 39.48% and a net margin of 22.34%. Netflix’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $2.11 EPS. As a group, equities analysts anticipate that Netflix will post 23.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,500 shares of company stock worth $123,309,210. 1.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently modified their holdings of NFLX. DigitalBridge Group Inc. boosted its holdings in shares of Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after buying an additional 9,451 shares during the period. Nordea Investment Management AB boosted its stake in Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after purchasing an additional 156,958 shares during the period. Charles Schwab Investment Management Inc. grew its position in Netflix by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after purchasing an additional 29,726 shares in the last quarter. Natixis Advisors LLC raised its stake in Netflix by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after purchasing an additional 11,921 shares during the period. Finally, M&T Bank Corp lifted its holdings in shares of Netflix by 4.2% in the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after purchasing an additional 1,684 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.