Netflix (NASDAQ:NFLX) Price Target Raised to $660.00

Netflix (NASDAQ:NFLX) had its price objective raised by Citigroup from $555.00 to $660.00 in a report published on Monday, Marketbeat Ratings reports. Citigroup currently has a neutral rating on the Internet television network’s stock.

Several other equities research analysts have also recently commented on NFLX. Pivotal Research boosted their price target on shares of Netflix from $600.00 to $700.00 and gave the stock a buy rating in a research report on Wednesday, January 24th. Benchmark boosted their price objective on shares of Netflix from $350.00 to $425.00 and gave the stock a sell rating in a research note on Friday, January 19th. Barclays boosted their price objective on shares of Netflix from $375.00 to $475.00 and gave the stock an equal weight rating in a research note on Wednesday, January 24th. Evercore ISI boosted their price objective on shares of Netflix from $600.00 to $640.00 and gave the stock an outperform rating in a research note on Thursday, March 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Netflix from $510.00 to $610.00 and gave the stock an overweight rating in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, Netflix presently has a consensus rating of Moderate Buy and an average price target of $583.18.

Netflix Price Performance

NFLX opened at $607.33 on Monday. The company has a fifty day moving average price of $581.81 and a two-hundred day moving average price of $487.70. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. Netflix has a 52 week low of $315.62 and a 52 week high of $634.39. The firm has a market capitalization of $262.83 billion, a PE ratio of 50.53, a P/E/G ratio of 1.71 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results 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 firm had revenue of $8.83 billion during the quarter, compared to analyst estimates of $8.72 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. Netflix’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period last year, the firm earned $0.12 EPS. As a group, analysts anticipate that Netflix will post 17.01 earnings per share for the current year.

Insider Activity at Netflix

In other Netflix news, CEO Gregory K. Peters sold 13,655 shares of the company’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total value of $7,425,589.00. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,118,342. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Gregory K. Peters sold 13,655 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total transaction of $7,425,589.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,118,342. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the sale, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at $717,379.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 273,767 shares of company stock valued at $151,298,232. Corporate insiders own 2.45% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NFLX. Norges Bank bought a new stake in Netflix during the 4th quarter worth approximately $2,558,598,000. Wellington Management Group LLP grew its holdings in shares of Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after acquiring an additional 3,273,592 shares in the last quarter. Moneta Group Investment Advisors LLC grew its holdings in shares of Netflix by 117,939.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,742,048 shares of the Internet television network’s stock valued at $808,575,000 after acquiring an additional 2,739,725 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after acquiring an additional 2,061,859 shares in the last quarter. Finally, 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. 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.