Netflix (NASDAQ:NFLX) Price Target Raised to $600.00 at Sanford C. Bernstein

Netflix (NASDAQ:NFLX) had its target price hoisted by Sanford C. Bernstein from $490.00 to $600.00 in a report published on Friday, Benzinga reports. The brokerage currently has a market perform rating on the Internet television network’s stock.

Several other research firms have also weighed in on NFLX. Rosenblatt Securities lowered their target price on shares of Netflix from $554.00 to $540.00 and set a neutral rating for the company in a research note on Friday. Guggenheim increased their price objective on shares of Netflix from $600.00 to $700.00 and gave the stock a buy rating in a report on Tuesday. Oppenheimer increased their price objective on shares of Netflix from $615.00 to $725.00 and gave the stock an outperform rating in a report on Monday, March 11th. Macquarie increased their price objective on shares of Netflix from $595.00 to $685.00 and gave the stock an outperform rating in a report on Tuesday. Finally, Jefferies Financial Group increased their price objective on shares of Netflix from $580.00 to $700.00 and gave the stock a buy rating in a report on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $630.58.

Netflix Stock Down 9.1 %

NFLX stock opened at $555.04 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. Netflix has a 1-year low of $315.62 and a 1-year high of $639.00. The firm has a fifty day moving average price of $605.65 and a two-hundred day moving average price of $513.07. The firm has a market cap of $240.20 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 1.64 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.46%. The firm had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. During the same quarter in the previous year, the firm earned $2.88 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. Research analysts predict that Netflix will post 17.08 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 47,574 shares of the firm’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 transaction, the insider now directly owns 31,610 shares in the company, valued at $17,003,651.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Netflix news, insider David A. Hyman sold 47,574 shares of the firm’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 transaction, the insider now directly owns 31,610 shares in the company, valued at $17,003,651.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jay C. Hoag sold 47,000 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $550.50, for a total transaction of $25,873,500.00. Following the completion of the transaction, the director now owns 431,034 shares of the company’s stock, valued at $237,284,217. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock worth $151,619,811 over the last ninety days. 2.45% of the stock is currently owned by company insiders.

Institutional Trading of Netflix

Institutional investors have recently made changes to their positions in the stock. Indiana Trust & Investment Management CO boosted its holdings in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 28 shares during the period. VitalStone Financial LLC boosted its holdings in shares of Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after purchasing an additional 56 shares during the period. Aspect Partners LLC acquired a new stake in shares of Netflix during the fourth quarter worth approximately $32,000. Scarborough Advisors LLC bought a new position in Netflix during the fourth quarter valued at approximately $32,000. Finally, Authentikos Wealth Advisory LLC bought a new position in Netflix during the third quarter valued at approximately $25,000. 80.93% of the stock is currently 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.