Citigroup Boosts Netflix (NASDAQ:NFLX) Price Target to $660.00

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

A number of other research firms have also issued reports on NFLX. DZ Bank upgraded Netflix from a hold rating to a buy rating and set a $600.00 price target for the company in a research report on Thursday, January 25th. Robert W. Baird increased their price objective on Netflix from $500.00 to $600.00 and gave the stock an outperform rating in a research report on Wednesday, January 24th. StockNews.com upgraded Netflix from a hold rating to a buy rating in a research report on Monday, February 26th. Sanford C. Bernstein increased their price objective on Netflix from $390.00 to $490.00 and gave the stock a market perform rating in a research report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. increased their price objective on Netflix from $510.00 to $610.00 and gave the stock an overweight rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $583.18.

Netflix Price Performance

Shares of Netflix stock opened at $613.53 on Monday. The business has a 50 day simple moving average of $579.15 and a two-hundred day simple moving average of $486.82. Netflix has a 12 month low of $315.62 and a 12 month high of $634.39. The stock has a market capitalization of $265.51 billion, a P/E ratio of 51.06, a PEG ratio of 1.70 and a beta of 1.22. 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 (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The company had revenue of $8.83 billion during the quarter, compared to analysts’ expectations of $8.72 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. Netflix’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the company earned $0.12 earnings per share. As a group, analysts predict that Netflix will post 17.01 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, CEO Gregory K. Peters sold 5,352 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $8,181,250. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Chairman Reed Hastings sold 18,494 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $611.22, for a total transaction of $11,303,902.68. Following the transaction, the chairman now owns 28 shares of the company’s stock, valued at $17,114.16. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gregory K. Peters sold 5,352 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $625.00, for a total value of $3,345,000.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $8,181,250. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 273,767 shares of company stock worth $151,298,232. Corporate insiders own 2.45% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of institutional investors have recently added to or reduced their stakes in NFLX. Authentikos Wealth Advisory LLC purchased a new stake in Netflix in the 3rd quarter valued at approximately $25,000. Spartan Planning & Wealth Management purchased a new stake in Netflix in the 3rd quarter valued at approximately $26,000. Carmel Capital Partners LLC boosted its holdings in Netflix by 290.0% in the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 58 shares in the last quarter. VitalStone Financial LLC boosted its holdings in Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC boosted its holdings in Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 62 shares in the last quarter. Hedge funds and other institutional investors 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.