Netflix (NASDAQ:NFLX) PT Raised to $767.00 at Argus

Netflix (NASDAQ:NFLX) had its target price lifted by stock analysts at Argus from $660.00 to $767.00 in a research report issued on Tuesday, Marketbeat reports. The brokerage presently has a “buy” rating on the Internet television network’s stock. Argus’ target price suggests a potential upside of 12.38% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Oppenheimer reiterated an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research note on Friday, April 19th. Guggenheim increased their price objective on shares of Netflix from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Wells Fargo & Company raised their price objective on shares of Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Citigroup upped their target price on shares of Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a report on Monday, March 25th. Finally, Wedbush reissued an “outperform” rating and set a $725.00 price target on shares of Netflix in a report on Monday, May 20th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $637.34.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $682.51 on Tuesday. Netflix has a 12-month low of $344.73 and a 12-month high of $689.88. The firm has a market capitalization of $294.16 billion, a price-to-earnings ratio of 47.36, a price-to-earnings-growth ratio of 1.46 and a beta of 1.27. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $633.35 and a 200 day moving average of $587.97.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $9.28 billion. During the same quarter in the previous year, the firm posted $2.88 EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. On average, research analysts anticipate that Netflix will post 18.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider David A. Hyman sold 268 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at $18,764,328.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Reed Hastings sold 18,361 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $551.54, for a total value of $10,126,825.94. Following the sale, the chairman now directly owns 28 shares in the company, valued at approximately $15,443.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider David A. Hyman sold 268 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $593.62, for a total transaction of $159,090.16. Following the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $18,764,328.20. The disclosure for this sale can be found here. Insiders sold a total of 71,385 shares of company stock valued at $44,469,351 over the last 90 days. Insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently bought and sold shares of the company. Valued Wealth Advisors LLC grew its stake in Netflix by 80.0% during the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after buying an additional 20 shares during the last quarter. Indiana Trust & Investment Management CO increased its holdings in shares of Netflix by 112.0% during the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 28 shares in the last quarter. VitalStone Financial LLC raised its position in shares of Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in Netflix in the 4th quarter worth approximately $32,000. Finally, Beaird Harris Wealth Management LLC grew its position in Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 62 shares during the last quarter. 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.