Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, Needham & Company LLC Analyst Says

Netflix (NASDAQ:NFLX) had its price target raised by equities researchers at Needham & Company LLC from $800.00 to $1,150.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the Internet television network’s stock. Needham & Company LLC’s price target points to a potential upside of 16.77% from the company’s previous close.

NFLX has been the topic of several other reports. Wolfe Research reissued an “outperform” rating on shares of Netflix in a research note on Friday, October 18th. Morgan Stanley raised their target price on shares of Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Wednesday. Robert W. Baird upped their price target on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Wednesday. Wedbush reiterated an “outperform” rating and set a $950.00 price objective (up previously from $800.00) on shares of Netflix in a research report on Monday, November 18th. Finally, Citigroup boosted their price target on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Ten analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $996.94.

Netflix Price Performance

Shares of NFLX opened at $984.86 on Wednesday. The company has a 50 day moving average of $889.11 and a two-hundred day moving average of $763.41. The company has a market cap of $420.99 billion, a price-to-earnings ratio of 49.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. Netflix has a twelve month low of $537.07 and a twelve month high of $999.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a return on equity of 39.48% and a net margin of 22.34%. The company’s revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.11 earnings per share. As a group, analysts predict that Netflix will post 23.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. The trade was a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The disclosure for this sale can be found here. Insiders have sold a total of 146,500 shares of company stock worth $123,309,210 in the last quarter. Company insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of large investors have recently modified their holdings of the company. RPg Family Wealth Advisory LLC acquired a new stake in Netflix in the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after acquiring an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Netflix in the third quarter valued at approximately $37,000. FSA Wealth Management LLC bought a new position in shares of Netflix during the third quarter valued at approximately $38,000. Finally, First Personal Financial Services acquired a new stake in shares of Netflix during the 3rd quarter worth approximately $40,000. 80.93% of the stock is currently 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.