Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, Pivotal Research Analyst Says

Netflix (NASDAQ:NFLX) had its price objective lifted by stock analysts at Pivotal Research from $925.00 to $1,100.00 in a research note issued on Wednesday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the Internet television network’s stock. Pivotal Research’s price objective would indicate a potential upside of 22.76% from the stock’s previous close.

NFLX has been the subject of a number of other research reports. Sanford C. Bernstein upped their target price on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. China Renaissance began coverage on shares of Netflix in a report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective for the company. Barclays restated an “underweight” rating and set a $550.00 target price on shares of Netflix in a report on Friday, October 18th. Needham & Company LLC lifted their price objective on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their target price on Netflix from $750.00 to $850.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $764.82.

Netflix Trading Up 1.4 %

Shares of Netflix stock opened at $896.05 on Wednesday. Netflix has a twelve month low of $445.73 and a twelve month high of $908.00. The firm’s 50-day moving average price is $751.39 and its 200 day moving average price is $688.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $383.03 billion, a PE ratio of 50.71, a P/E/G ratio of 1.68 and a beta of 1.25.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. On average, sell-side analysts predict that Netflix will post 19.78 EPS for the current fiscal year.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 4,392 shares of Netflix stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $725.00, for a total value of $3,184,200.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $9,490,250. This trade represents a 25.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total value of $31,981,986.40. Following the sale, the chairman now owns 85 shares in the company, valued at approximately $60,023.60. This trade represents a 99.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 185,866 shares of company stock worth $133,393,921. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several hedge funds have recently added to or reduced their stakes in the company. Denver PWM LLC purchased a new stake in shares of Netflix during the 2nd quarter worth $25,000. RPg Family Wealth Advisory LLC purchased a new stake in Netflix during the 3rd quarter worth about $25,000. Proffitt & Goodson Inc. boosted its position in shares of Netflix by 380.0% during the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 38 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after acquiring an additional 42 shares during the last quarter. Finally, AlphaMark Advisors LLC raised its position in shares of Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds 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.