Guggenheim Increases Netflix (NASDAQ:NFLX) Price Target to $700.00

Netflix (NASDAQ:NFLX) had its target price boosted by Guggenheim from $600.00 to $700.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the Internet television network’s stock. Guggenheim’s price objective would indicate a potential upside of 14.06% from the company’s current price.

Several other research firms have also commented on NFLX. Piper Sandler increased their target price on shares of Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Pivotal Research increased their target price on shares of Netflix from $700.00 to $765.00 and gave the company a “buy” rating in a research note on Friday, April 5th. Wells Fargo & Company increased their target price on shares of Netflix from $460.00 to $650.00 and gave the company an “overweight” rating in a research note on Wednesday, January 24th. Wedbush increased their target price on shares of Netflix from $615.00 to $725.00 and gave the company an “outperform” rating in a research note on Wednesday, March 27th. Finally, Citigroup increased their target price on shares of Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and an average target price of $614.28.

Netflix Trading Down 0.6 %

Netflix stock opened at $613.69 on Tuesday. The firm has a 50 day simple moving average of $604.73 and a 200-day simple moving average of $511.17. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $265.58 billion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 1.64 and a beta of 1.22. Netflix has a 12-month low of $315.62 and a 12-month high of $639.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.09). The company had revenue of $8.83 billion during the quarter, compared to the consensus estimate of $8.72 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The company’s revenue was up 12.5% on a year-over-year basis. During the same quarter last year, the business earned $0.12 earnings per share. As a group, equities research analysts expect that Netflix will post 17.03 EPS for the current fiscal year.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 5,352 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,181,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Gregory K. Peters sold 5,352 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,181,250. The disclosure for this sale can be found here. In the last three months, insiders have sold 268,335 shares of company stock worth $151,619,811. 2.45% of the stock is owned by insiders.

Institutional Trading of Netflix

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 36,438,570 shares of the Internet television network’s stock worth $17,741,211,000 after acquiring an additional 178,286 shares during the period. State Street Corp lifted its holdings in shares of Netflix by 0.4% during the 1st quarter. State Street Corp now owns 16,195,490 shares of the Internet television network’s stock worth $5,595,196,000 after acquiring an additional 62,507 shares during the period. Capital World Investors lifted its holdings in shares of Netflix by 0.7% during the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after acquiring an additional 78,320 shares during the period. Morgan Stanley lifted its holdings in shares of Netflix by 11.1% during the 4th quarter. Morgan Stanley now owns 6,463,661 shares of the Internet television network’s stock worth $1,906,005,000 after acquiring an additional 644,162 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after acquiring an additional 1,573,978 shares during the period. 80.93% of the stock is owned by 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.