Netflix (NASDAQ:NFLX) Given New $960.00 Price Target at The Goldman Sachs Group

Netflix (NASDAQ:NFLX) had its target price upped by The Goldman Sachs Group from $850.00 to $960.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the Internet television network’s stock.

A number of other brokerages have also weighed in on NFLX. Macquarie increased their target price on shares of Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a research report on Wednesday. Barclays raised shares of Netflix from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $715.00 to $900.00 in a report on Wednesday. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a report on Wednesday. Oppenheimer boosted their price objective on Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Needham & Company LLC raised their target price on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $993.82.

Netflix Trading Up 9.7 %

NASDAQ:NFLX opened at $953.99 on Wednesday. Netflix has a 12 month low of $481.40 and a 12 month high of $999.00. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average is $886.64 and its 200 day moving average is $762.07. The stock has a market capitalization of $407.79 billion, a PE ratio of 48.11, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 39.48% and a net margin of 22.34%. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. During the same period in the previous year, the company posted $2.11 earnings per share. The business’s revenue was up 16.0% on a year-over-year basis. Sell-side analysts expect that Netflix will post 23.43 earnings per share for the current year.

Insider Activity at Netflix

In related news, CEO Theodore A. Sarandos sold 1,278 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total transaction of $980,289.90. Following the completion of the sale, the chief executive officer now directly owns 2,556 shares in the company, valued at $1,960,579.80. This represents a 33.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard N. Barton sold 5,698 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the sale, the director now directly owns 246 shares of the company’s stock, valued at $185,976. The trade was a 95.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 152,198 shares of company stock worth $127,616,898 in the last ninety days. 1.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently modified their holdings of the company. RPg Family Wealth Advisory LLC purchased a new position in Netflix during the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. grew its position in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Netflix during the third quarter valued at approximately $37,000. FSA Wealth Management LLC purchased a new stake in Netflix in the third quarter worth $38,000. Finally, First Personal Financial Services purchased a new stake in Netflix in the third quarter worth $40,000. 80.93% of the stock is owned by 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.