Guggenheim Raises Netflix (NASDAQ:NFLX) Price Target to $700.00

Netflix (NASDAQ:NFLX) had its target price raised by Guggenheim from $600.00 to $700.00 in a research report released on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the Internet television network’s stock.

Several other research firms also recently commented on NFLX. KeyCorp boosted their target price on shares of Netflix from $580.00 to $705.00 and gave the stock an overweight rating in a research report on Wednesday, March 20th. Redburn Atlantic boosted their target price on shares of Netflix from $550.00 to $610.00 and gave the stock a buy rating in a research report on Wednesday, January 24th. Wells Fargo & Company upped their price objective on shares of Netflix from $460.00 to $650.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th. Citigroup upped their price objective on shares of Netflix from $555.00 to $660.00 and gave the stock a neutral rating in a research report on Monday, March 25th. Finally, 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 research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, Netflix has an average rating of Moderate Buy and a consensus target price of $614.75.

Netflix Trading Down 0.5 %

NASDAQ:NFLX opened at $610.56 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50-day moving average of $605.77 and a 200-day moving average of $511.86. The company has a market cap of $264.23 billion, a PE ratio of 50.84, a PEG ratio of 1.65 and a beta of 1.22. Netflix has a one year low of $315.62 and a one year high of $639.00.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.88 earnings per share. As a group, equities research analysts expect that Netflix will post 17.05 EPS for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Director Ann Mather sold 3,673 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $2,203,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Netflix news, Director Ann Mather sold 3,673 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $2,203,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the chairman now owns 28 shares in the company, valued at $17,091.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 268,335 shares of company stock worth $151,619,811. 2.45% of the stock is owned by corporate insiders.

Institutional Trading of Netflix

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Netflix by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 36,438,570 shares of the Internet television network’s stock valued at $17,741,211,000 after buying an additional 178,286 shares in the last quarter. State Street Corp raised its position in shares of Netflix by 0.4% during the 1st quarter. State Street Corp now owns 16,195,490 shares of the Internet television network’s stock valued at $5,595,196,000 after buying an additional 62,507 shares in the last quarter. Capital World Investors raised its position in shares of Netflix by 0.7% during the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after buying an additional 78,320 shares in the last quarter. Morgan Stanley raised its position in shares of Netflix by 11.1% during the 4th quarter. Morgan Stanley now owns 6,463,661 shares of the Internet television network’s stock valued at $1,906,005,000 after buying an additional 644,162 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after buying an additional 1,573,978 shares in the last quarter. Hedge funds and other institutional investors 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.