Bank of America Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its price objective hoisted by Bank of America from $800.00 to $1,000.00 in a research note published on Thursday,Benzinga reports. The brokerage currently has a buy rating on the Internet television network’s stock.

Several other equities research analysts have also issued reports on NFLX. Benchmark reiterated a “sell” rating and set a $545.00 target price on shares of Netflix in a research report on Tuesday, October 15th. Wolfe Research reissued an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Barclays reaffirmed an “underweight” rating and set a $550.00 target price on shares of Netflix in a report on Friday, October 18th. UBS Group increased their price objective on shares of Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Needham & Company LLC upped their price target on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $764.82.

Netflix Price Performance

Netflix stock traded up $5.75 on Thursday, reaching $903.23. The company’s stock had a trading volume of 524,448 shares, compared to its average volume of 3,653,766. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $386.09 billion, a price-to-earnings ratio of 50.71, a PEG ratio of 1.68 and a beta of 1.25. The business’s fifty day moving average price is $751.39 and its 200 day moving average price is $688.25. Netflix has a twelve month low of $445.73 and a twelve month high of $908.00.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Equities analysts expect that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 25,074 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total value of $17,073,388.08. Following the transaction, the chairman now owns 85 shares of the company’s stock, valued at $57,878.20. This represents a 99.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total value of $518,320.00. The disclosure for this sale can be found here. Insiders have sold a total of 185,866 shares of company stock worth $133,393,921 in the last three months. 1.76% of the stock is owned by company insiders.

Institutional Trading of Netflix

Several institutional investors and hedge funds have recently added to or reduced their stakes in NFLX. DigitalBridge Group Inc. raised its stake in Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Netflix by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after purchasing an additional 29,726 shares during the period. Natixis Advisors LLC grew its stake in Netflix by 2.0% in the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after acquiring an additional 11,921 shares during the period. Venturi Wealth Management LLC lifted its position in Netflix by 27.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network’s stock valued at $2,182,000 after acquiring an additional 664 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Netflix by 58.2% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock worth $55,968,000 after acquiring an additional 30,511 shares during the last quarter. 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.