KeyCorp Raises Netflix (NASDAQ:NFLX) Price Target to $707.00

Netflix (NASDAQ:NFLX) had its target price lifted by KeyCorp from $705.00 to $707.00 in a research report sent to investors on Thursday, Benzinga reports. KeyCorp currently has an overweight rating on the Internet television network’s stock.

Other equities research analysts have also issued research reports about the stock. Wells Fargo & Company upped their target price on shares of Netflix from $650.00 to $726.00 and gave the stock an overweight rating in a report on Friday, April 19th. Oppenheimer reaffirmed an outperform rating and set a $725.00 price objective on shares of Netflix in a research note on Friday, April 19th. Needham & Company LLC reiterated a buy rating and issued a $700.00 target price on shares of Netflix in a research note on Friday, May 17th. Rosenblatt Securities increased their price target on Netflix from $540.00 to $554.00 and gave the stock a neutral rating in a research report on Friday, May 17th. Finally, Jefferies Financial Group reiterated a buy rating and issued a $655.00 price objective on shares of Netflix in a research report on Wednesday, May 15th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $632.06.

Netflix Price Performance

NASDAQ:NFLX opened at $669.38 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The company has a 50-day moving average of $615.54 and a 200-day moving average of $569.03. Netflix has a 52 week low of $344.73 and a 52 week high of $675.58. The company has a market capitalization of $288.50 billion, a price-to-earnings ratio of 46.45, a PEG ratio of 1.41 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. 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 prior year, the business posted $2.88 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Netflix will post 18.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, Chairman Reed Hastings sold 19,943 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $633.58, for a total value of $12,635,485.94. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at $36,114.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Gregory K. Peters sold 5,352 shares of the business’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,181,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Reed Hastings sold 19,943 shares of the stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $633.58, for a total value of $12,635,485.94. Following the transaction, the chairman now owns 57 shares of the company’s stock, valued at approximately $36,114.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,994 shares of company stock worth $42,036,266. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Spartan Planning & Wealth Management bought a new stake in Netflix in the 3rd quarter valued at approximately $26,000. Valued Wealth Advisors LLC lifted its position in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares in the last quarter. 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 worth $30,000 after purchasing an additional 56 shares in the last quarter. Beaird Harris Wealth Management LLC grew its position in 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 purchasing an additional 62 shares in the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in Netflix in the 4th quarter valued at $32,000. 80.93% of the stock is owned by institutional investors and hedge funds.

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.