Pivotal Research Increases Netflix (NASDAQ:NFLX) Price Target to $800.00

Netflix (NASDAQ:NFLX) had its price objective boosted by Pivotal Research from $765.00 to $800.00 in a research report sent to investors on Friday morning, MarketBeat Ratings reports. The brokerage currently has a buy rating on the Internet television network’s stock.

Several other analysts also recently commented on NFLX. Evercore ISI raised their price objective on shares of Netflix from $600.00 to $640.00 and gave the stock an outperform rating in a research report on Thursday, March 14th. Canaccord Genuity Group increased their target price on Netflix from $575.00 to $625.00 and gave the stock a buy rating in a report on Wednesday, January 24th. Citigroup increased their target price on Netflix from $555.00 to $660.00 and gave the stock a neutral rating in a report on Monday, March 25th. JPMorgan Chase & Co. increased their target price on Netflix from $610.00 to $650.00 and gave the stock an overweight rating in a report on Monday, April 8th. Finally, Wells Fargo & Company increased their target price on Netflix from $650.00 to $726.00 and gave the stock an overweight rating in a report on Friday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $630.58.

Netflix Stock Performance

NASDAQ:NFLX opened at $555.04 on Friday. The company has a market capitalization of $240.20 billion, a PE ratio of 38.52, a P/E/G ratio of 1.64 and a beta of 1.22. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50 day simple moving average of $605.65 and a two-hundred day simple moving average of $513.07.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data 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 18.42% and a return on equity of 29.46%. The company’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.88 EPS. Research analysts anticipate that Netflix will post 17.08 earnings per share for the current year.

Insider Buying and Selling

In related news, insider David A. Hyman sold 47,574 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Theodore A. Sarandos sold 68,957 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the sale, the chief executive officer now directly owns 1,278 shares in the company, valued at approximately $717,379.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider David A. Hyman sold 47,574 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $17,003,651.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 268,335 shares of company stock valued at $151,619,811. 2.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fairfield Bush & CO. increased its position in shares of Netflix by 26.5% during the first quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock valued at $916,000 after buying an additional 512 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Netflix by 21.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock valued at $179,820,000 after buying an additional 84,179 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of Netflix by 14.2% during the first quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock valued at $1,094,000 after buying an additional 363 shares during the period. Candriam Luxembourg S.C.A. increased its position in shares of Netflix by 6.9% during the first quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock valued at $13,610,000 after buying an additional 2,358 shares during the period. Finally, Brown Brothers Harriman & Co. increased its position in shares of Netflix by 13.1% during the first quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock valued at $1,426,000 after buying an additional 441 shares during the period. 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.