The Goldman Sachs Group Increases Netflix (NASDAQ:NFLX) Price Target to $850.00

Netflix (NASDAQ:NFLX) had its target price raised by analysts at The Goldman Sachs Group from $750.00 to $850.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the Internet television network’s stock. The Goldman Sachs Group’s price target indicates a potential downside of 3.32% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Wolfe Research reissued an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Barclays reissued an “underweight” rating and issued a $550.00 target price on shares of Netflix in a research report on Friday, October 18th. Loop Capital lowered Netflix from a “buy” rating to a “hold” rating and lifted their price target for the stock from $800.00 to $950.00 in a research report on Monday, December 16th. Wells Fargo & Company lifted their target price on shares of Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $825.00 price target (up previously from $770.00) on shares of Netflix in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $824.30.

Netflix Trading Down 0.3 %

NASDAQ:NFLX opened at $879.19 on Wednesday. Netflix has a 1 year low of $472.95 and a 1 year high of $941.75. The stock has a market cap of $375.82 billion, a P/E ratio of 49.76, a P/E/G ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a 50-day simple moving average of $871.62 and a 200-day simple moving average of $749.78.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. As a group, analysts anticipate that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Activity

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This trade represents a 1.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 150,761 shares of company stock worth $125,713,484 over the last ninety days. 1.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Netflix

A number of institutional investors have recently modified their holdings of the company. DigitalBridge Group Inc. raised its holdings in Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after acquiring an additional 9,451 shares during the last quarter. Nordea Investment Management AB increased its stake in Netflix by 22.7% in the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after purchasing an additional 156,958 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after buying an additional 29,726 shares during the period. Natixis Advisors LLC lifted its position in Netflix by 2.0% during the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after buying an additional 11,921 shares during the period. Finally, M&T Bank Corp boosted its stake in Netflix by 4.2% in the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after buying an additional 1,684 shares during the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.