Netflix (NASDAQ:NFLX) Given New $700.00 Price Target at Morgan Stanley

Netflix (NASDAQ:NFLX) had its price target raised by Morgan Stanley from $600.00 to $700.00 in a research report sent to investors on Friday, MarketBeat Ratings reports. Morgan Stanley currently has an overweight rating on the Internet television network’s stock.

Several other brokerages have also recently issued reports on NFLX. Redburn Atlantic lifted their price objective on Netflix from $550.00 to $610.00 and gave the company a buy rating in a research note on Wednesday, January 24th. KeyCorp lifted their price objective on Netflix from $580.00 to $705.00 and gave the company an overweight rating in a research note on Wednesday, March 20th. Citigroup boosted their target price on Netflix from $555.00 to $660.00 and gave the stock a neutral rating in a research note on Monday, March 25th. Wells Fargo & Company boosted their target price on Netflix from $460.00 to $650.00 and gave the stock an overweight rating in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. boosted their target price on Netflix from $610.00 to $650.00 and gave the stock an overweight rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $597.73.

Netflix Stock Performance

Shares of Netflix stock opened at $607.15 on Friday. The business has a 50-day moving average of $602.41 and a 200 day moving average of $508.76. Netflix has a 12 month low of $315.62 and a 12 month high of $639.00. The stock has a market capitalization of $262.75 billion, a price-to-earnings ratio of 50.55, a price-to-earnings-growth ratio of 1.69 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 announced its quarterly earnings data on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.12 EPS. As a group, sell-side analysts forecast that Netflix will post 17.02 earnings per share for the current year.

Insider Activity at Netflix

In related news, CEO Theodore A. Sarandos sold 68,957 shares of Netflix stock in a transaction that occurred on 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 $717,379.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the sale, the chief executive officer now directly owns 1,278 shares in the company, valued at $717,379.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David A. Hyman sold 47,574 shares of the business’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following 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. Insiders have sold a total of 268,335 shares of company stock worth $151,619,811 over the last three months. 2.45% of the stock is currently owned by corporate insiders.

Institutional Trading of Netflix

A number of institutional investors have recently bought and sold shares of NFLX. VitalStone Financial LLC lifted its position in shares of Netflix by 933.3% in the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares in the last quarter. Aspect Partners LLC purchased a new stake in shares of Netflix in the fourth quarter valued at $32,000. Scarborough Advisors LLC purchased a new stake in shares of Netflix in the fourth quarter valued at $32,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Netflix in the third quarter valued at $25,000. Finally, Beaird Harris Wealth Management LLC lifted its position in shares of Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 62 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other 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.