Rosenblatt Securities Boosts Netflix (NASDAQ:NFLX) Price Target to $635.00

Netflix (NASDAQ:NFLX) had its price objective boosted by Rosenblatt Securities from $554.00 to $635.00 in a research note released on Friday, Benzinga reports. Rosenblatt Securities currently has a neutral rating on the Internet television network’s stock.

A number of other research analysts have also commented on NFLX. The Goldman Sachs Group upped their price target on Netflix from $650.00 to $659.00 and gave the company a neutral rating in a research report on Friday. Oppenheimer reaffirmed an outperform rating and issued a $725.00 price target on shares of Netflix in a research note on Friday, April 19th. Bank of America boosted their price objective on shares of Netflix from $700.00 to $740.00 and gave the company a buy rating in a research report on Monday, July 15th. Canaccord Genuity Group reaffirmed a hold rating and set a $585.00 target price (down previously from $720.00) on shares of Netflix in a research note on Friday, April 19th. Finally, Wedbush reissued an outperform rating and issued a $725.00 price target on shares of Netflix in a research note on Monday, May 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $680.76.

Netflix Stock Performance

NASDAQ:NFLX opened at $633.34 on Friday. 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 has a fifty-two week low of $344.73 and a fifty-two week high of $697.49. The firm has a market cap of $272.97 billion, a PE ratio of 43.95, a price-to-earnings-growth ratio of 1.37 and a beta of 1.27. The business has a 50 day moving average price of $655.73 and a 200-day moving average price of $604.31.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating the consensus estimate of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 33.22%. The business had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. During the same quarter in the prior year, the company posted $3.29 EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities research analysts predict that Netflix will post 18.99 earnings per share for the current year.

Insider Transactions at Netflix

In related news, Director Anne M. Sweeney sold 633 shares of the stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total transaction of $354,480.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the sale, the chairman now directly owns 57 shares in the company, valued at approximately $38,217.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anne M. Sweeney sold 633 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total transaction of $354,480.00. 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 company insiders.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. FORVIS Wealth Advisors LLC bought a new stake in Netflix during the fourth quarter valued at about $216,000. Brookstone Capital Management increased its holdings in Netflix by 4.8% in the 4th quarter. Brookstone Capital Management now owns 6,825 shares of the Internet television network’s stock worth $3,323,000 after acquiring an additional 311 shares in the last quarter. Cyndeo Wealth Partners LLC raised its stake in Netflix by 12.1% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 1,124 shares of the Internet television network’s stock worth $547,000 after acquiring an additional 121 shares during the period. Fortitude Family Office LLC bought a new stake in Netflix during the 4th quarter worth approximately $57,000. Finally, Advisor Resource Council purchased a new position in Netflix during the fourth quarter valued at approximately $1,156,000. 80.93% of the stock is 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.