Bank of America Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX) had its target price boosted by analysts at Bank of America from $1,000.00 to $1,175.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the Internet television network’s stock. Bank of America‘s price objective suggests a potential upside of 19.31% from the stock’s previous close.

A number of other equities analysts have also recently weighed in on NFLX. BMO Capital Markets reissued an “outperform” rating and set a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a report on Wednesday. Argus boosted their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. UBS Group increased their target price on shares of Netflix from $825.00 to $1,040.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Oppenheimer lowered their price target on shares of Netflix from $1,065.00 to $1,040.00 and set an “outperform” rating for the company in a research note on Wednesday, January 15th. Finally, Sanford C. Bernstein lifted their price objective on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Ten research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $996.94.

Netflix Trading Up 3.2 %

Shares of Netflix stock opened at $984.86 on Wednesday. The company has a 50 day simple moving average of $889.11 and a two-hundred day simple moving average of $763.41. The firm has a market cap of $420.99 billion, a PE ratio of 49.67, a PEG ratio of 1.41 and a beta of 1.27. Netflix has a 1 year low of $537.07 and a 1 year high of $999.00. 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 (NASDAQ:NFLX) last announced its earnings results 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. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10,141,900 billion. During the same period in the previous year, the business earned $2.11 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Analysts expect that Netflix will post 23.43 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other news, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the transaction, the director now owns 246 shares in the company, valued at approximately $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Anne M. Sweeney sold 589 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Insiders sold a total of 146,500 shares of company stock valued at $123,309,210 in the last quarter. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Institutional investors have recently modified their holdings of the business. Epoch Investment Partners Inc. boosted its holdings in shares of Netflix by 27.1% during the 2nd quarter. Epoch Investment Partners Inc. now owns 544 shares of the Internet television network’s stock valued at $367,000 after acquiring an additional 116 shares during the last quarter. Mill Creek Capital Advisors LLC lifted its position in Netflix by 24.8% during the second quarter. Mill Creek Capital Advisors LLC now owns 433 shares of the Internet television network’s stock valued at $292,000 after purchasing an additional 86 shares during the period. Clear Point Advisors Inc. boosted its holdings in Netflix by 3.9% in the second quarter. Clear Point Advisors Inc. now owns 449 shares of the Internet television network’s stock worth $303,000 after purchasing an additional 17 shares during the last quarter. Insigneo Advisory Services LLC grew its position in Netflix by 10.6% in the 2nd quarter. Insigneo Advisory Services LLC now owns 8,230 shares of the Internet television network’s stock worth $5,554,000 after purchasing an additional 786 shares during the period. Finally, Fred Alger Management LLC raised its stake in Netflix by 4.7% during the 2nd quarter. Fred Alger Management LLC now owns 465,249 shares of the Internet television network’s stock valued at $313,987,000 after buying an additional 20,962 shares during the last quarter. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.