Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Netflix (NASDAQ:NFLX) had its price target boosted by equities researchers at Canaccord Genuity Group from $1,150.00 to $1,200.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the Internet television network’s stock. Canaccord Genuity Group’s price target would indicate a potential upside of 23.33% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Evercore ISI raised their price target on shares of Netflix from $950.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 22nd. Wedbush restated an “outperform” rating and issued a $1,150.00 target price on shares of Netflix in a research note on Friday, April 11th. Bank of America increased their price target on Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research note on Wednesday, January 22nd. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Nine analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $1,039.91.

Netflix Stock Up 1.2 %

NFLX stock opened at $973.03 on Monday. Netflix has a 1-year low of $542.01 and a 1-year high of $1,064.50. The stock has a market cap of $416.22 billion, a P/E ratio of 49.07, a P/E/G ratio of 2.12 and a beta of 1.55. The stock’s fifty day simple moving average is $954.87 and its two-hundred day simple moving average is $894.38. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. During the same period in the previous year, the firm earned $8.28 EPS. Analysts expect that Netflix will post 24.58 EPS for the current year.

Insider Buying and Selling at Netflix

In other news, CAO Jeffrey William Karbowski sold 160 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $1,000.00, for a total transaction of $160,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory K. Peters sold 102,228 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $980.74, for a total value of $100,259,088.72. Following the completion of the sale, the chief executive officer now directly owns 12,950 shares in the company, valued at $12,700,583. The trade was a 88.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 274,312 shares of company stock worth $267,919,297. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

A number of large investors have recently modified their holdings of the stock. Principal Financial Group Inc. boosted its position in Netflix by 13.3% during the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network’s stock valued at $1,200,485,000 after acquiring an additional 198,148 shares in the last quarter. McIlrath & Eck LLC raised its position in shares of Netflix by 13.8% in the 3rd quarter. McIlrath & Eck LLC now owns 247 shares of the Internet television network’s stock worth $175,000 after acquiring an additional 30 shares in the last quarter. Advisory Resource Group lifted its stake in shares of Netflix by 0.7% in the 3rd quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after purchasing an additional 12 shares during the period. Virtu Financial LLC boosted its position in shares of Netflix by 356.5% during the third quarter. Virtu Financial LLC now owns 13,879 shares of the Internet television network’s stock valued at $9,844,000 after purchasing an additional 10,839 shares in the last quarter. Finally, SOA Wealth Advisors LLC. grew its stake in Netflix by 1.2% in the third quarter. SOA Wealth Advisors LLC. now owns 1,515 shares of the Internet television network’s stock worth $1,075,000 after purchasing an additional 18 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.