Evercore ISI Boosts Netflix (NASDAQ:NFLX) Price Target to $1,100.00

Netflix (NASDAQ:NFLX) had its target price raised by Evercore ISI from $950.00 to $1,100.00 in a report released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the Internet television network’s stock.

Several other equities analysts also recently commented on NFLX. Canaccord Genuity Group raised shares of Netflix from a “hold” rating to a “buy” rating and upped their price objective for the company from $940.00 to $1,150.00 in a research note on Wednesday. Bank of America upped their price target on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. BMO Capital Markets restated an “outperform” rating and set a $1,175.00 target price (up previously from $1,000.00) on shares of Netflix in a report on Wednesday. Finally, Jefferies Financial Group lifted their price target on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $993.82.

Netflix Trading Up 9.7 %

Shares of NFLX stock opened at $953.99 on Wednesday. The business has a 50-day moving average of $886.64 and a 200 day moving average of $762.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix has a 1-year low of $481.40 and a 1-year high of $999.00. The stock has a market capitalization of $407.79 billion, a PE ratio of 53.99, a P/E/G ratio of 1.40 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10,141,900 billion. During the same quarter in the prior year, the firm posted $2.11 earnings per share. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Netflix will post 19.76 earnings per share for the current year.

Insider Activity at Netflix

In other Netflix news, CEO Theodore A. Sarandos sold 1,278 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total value of $980,289.90. Following the transaction, the chief executive officer now owns 2,556 shares of the company’s stock, valued at approximately $1,960,579.80. This represents a 33.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 152,198 shares of company stock worth $127,616,898 over the last quarter. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NFLX. RPg Family Wealth Advisory LLC purchased a new position in Netflix during the third quarter valued at $25,000. E Fund Management Hong Kong Co. Ltd. raised its stake in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix during the 3rd quarter valued at about $37,000. FSA Wealth Management LLC bought a new position in shares of Netflix during the 3rd quarter valued at approximately $38,000. Finally, First Personal Financial Services purchased a new stake in Netflix in the 3rd quarter worth approximately $40,000. 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.