Netflix (NASDAQ:NFLX) Price Target Increased to $800.00 by Analysts at Pivotal Research

Netflix (NASDAQ:NFLX) had its target price raised by Pivotal Research from $765.00 to $800.00 in a report published on Friday morning, Marketbeat reports. Pivotal Research currently has a buy rating on the Internet television network’s stock.

NFLX has been the topic of a number of other research reports. Sanford C. Bernstein upped their price objective on shares of Netflix from $390.00 to $490.00 and gave the stock a market perform rating in a report on Wednesday, January 24th. Loop Capital increased their price objective on shares of Netflix from $585.00 to $700.00 and gave the company a buy rating in a research report on Monday, March 18th. KeyCorp raised their target price on shares of Netflix from $580.00 to $705.00 and gave the stock an overweight rating in a report on Wednesday, March 20th. Bank of America lifted their price objective on shares of Netflix from $585.00 to $650.00 and gave the company a buy rating in a report on Wednesday, January 24th. Finally, Canaccord Genuity Group raised their target price on shares of Netflix from $575.00 to $625.00 and gave the company a buy rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, Netflix has an average rating of Moderate Buy and a consensus price target of $630.58.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $554.60 on Friday. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The stock has a market cap of $238.98 billion, a price-to-earnings ratio of 38.49, a PEG ratio of 1.49 and a beta of 1.22. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.07. The firm’s 50-day simple moving average is $605.58 and its 200 day simple moving average is $516.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same quarter last year, the business posted $2.88 EPS. Netflix’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, research analysts anticipate that Netflix will post 17.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares in the company, valued at approximately $17,091.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the transaction, the chairman now directly owns 28 shares in the company, valued at approximately $17,091.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 47,574 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock worth $151,619,811 in the last 90 days. 2.45% of the stock is owned by company insiders.

Institutional Investors Weigh In On Netflix

Institutional investors and hedge funds have recently made changes to their positions in the company. Capital World Investors increased its position in Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after buying an additional 78,320 shares during the period. Jennison Associates LLC grew its holdings in Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after purchasing an additional 1,573,978 shares during the period. Norges Bank purchased a new stake in shares of Netflix during the fourth quarter worth $2,558,598,000. Northern Trust Corp lifted its position in shares of Netflix by 2.1% during the third quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock worth $1,749,712,000 after acquiring an additional 96,938 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its position in shares of Netflix by 1.9% during the fourth quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock worth $2,006,483,000 after acquiring an additional 78,298 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

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.