Netflix (NASDAQ:NFLX) Price Target Raised to $710.00

Netflix (NASDAQ:NFLX) had its target price boosted by equities research analysts at Evercore ISI from $700.00 to $710.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the Internet television network’s stock. Evercore ISI’s price target would suggest a potential upside of 12.10% from the company’s previous close.

NFLX has been the subject of a number of other research reports. KeyCorp lifted their target price on shares of Netflix from $707.00 to $735.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 10th. Bank of America lifted their target price on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Citigroup lifted their target price on shares of Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a research note on Monday, March 25th. Needham & Company LLC reissued a “buy” rating and set a $700.00 target price on shares of Netflix in a research note on Monday, June 17th. Finally, Jefferies Financial Group lifted their target price on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $680.76.

Netflix Price Performance

NFLX stock opened at $633.34 on Friday. The company has a fifty day moving average price of $655.73 and a 200-day moving average price of $603.37. The company has a market capitalization of $272.97 billion, a P/E ratio of 43.95, a PEG ratio of 1.39 and a beta of 1.27. Netflix has a 52-week low of $344.73 and a 52-week high of $697.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 33.22%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the firm earned $3.29 earnings per share. As a group, equities analysts expect that Netflix will post 18.35 EPS for the current year.

Insider Activity

In related news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.81, for a total transaction of $758,889.18. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $7,772,972.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $593.81, for a total transaction of $758,889.18. Following the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $7,772,972.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Spencer Adam Neumann sold 564 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $613.08, for a total transaction of $345,777.12. The disclosure for this sale can be found here. Insiders sold 71,385 shares of company stock worth $44,469,351 over the last three months. 1.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Netflix by 0.4% during the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after purchasing an additional 149,341 shares in the last quarter. Capital World Investors raised its position in Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after acquiring an additional 78,320 shares during the period. Jennison Associates LLC raised its position in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares during the period. Norges Bank bought a new stake in Netflix in the fourth quarter worth about $2,558,598,000. Finally, Fisher Asset Management LLC raised its position in Netflix by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock worth $2,006,483,000 after acquiring an additional 78,298 shares during the period. 80.93% of the stock is owned by institutional investors.

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.