The Goldman Sachs Group Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its price objective upped by The Goldman Sachs Group from $750.00 to $850.00 in a research note published on Wednesday morning, MarketBeat reports. They currently have a neutral rating on the Internet television network’s stock.

Several other equities research analysts have also issued reports on NFLX. Morgan Stanley upped their price target on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft boosted their price target on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Canaccord Genuity Group raised their price objective on shares of Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a research note on Monday, December 2nd. Jefferies Financial Group upped their target price on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, KeyCorp boosted their price objective on Netflix from $760.00 to $785.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $824.00.

Netflix Trading Down 4.3 %

Shares of NFLX opened at $837.69 on Wednesday. The stock’s 50-day moving average is $878.06 and its two-hundred day moving average is $752.69. The stock has a market cap of $358.08 billion, a PE ratio of 47.41, a P/E/G ratio of 1.77 and a beta of 1.27. 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 has a 12 month low of $475.26 and a 12 month high of $941.75.

Netflix (NASDAQ:NFLX) last announced 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 company had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Equities analysts forecast that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Leslie J. Kilgore sold 358 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $765.00, for a total transaction of $273,870.00. Following the transaction, the director now owns 35,262 shares in the company, valued at approximately $26,975,430. This trade represents a 1.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 156,742 shares of company stock valued at $131,030,268 in the last quarter. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of large investors have recently bought and sold shares of the business. International Assets Investment Management LLC boosted its stake in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Assenagon Asset Management S.A. boosted its position in shares of Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after acquiring an additional 642,920 shares during the period. State Street Corp grew its stake in shares of Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Jennison Associates LLC increased its position in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in Netflix during the 3rd quarter valued at $222,871,000. 80.93% of the stock is currently 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.