Oppenheimer Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its target price upped by Oppenheimer from $1,040.00 to $1,150.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the Internet television network’s stock. Oppenheimer’s target price would indicate a potential upside of 16.81% from the company’s previous close.

NFLX has been the topic of several other reports. JPMorgan Chase & Co. upped their price objective on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday. KeyCorp upped their price target on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research note on Wednesday. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and lifted their price objective for the company from $940.00 to $1,150.00 in a research note on Wednesday. Wedbush reiterated an “outperform” rating and set a $950.00 price objective (up from $800.00) on shares of Netflix in a research note on Monday, November 18th. Finally, Citigroup raised their target price on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $972.00.

Netflix Stock Up 13.2 %

Netflix stock opened at $984.48 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $420.83 billion, a P/E ratio of 55.62, a P/E/G ratio of 1.40 and a beta of 1.27. The firm has a 50 day moving average price of $886.64 and a 200-day moving average price of $762.07. Netflix has a twelve month low of $481.40 and a twelve month high of $997.00.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. During the same period last year, the business posted $2.11 earnings per share. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities analysts predict that Netflix will post 19.76 EPS for the current year.

Insider Buying and Selling

In other Netflix news, Director Richard N. Barton sold 5,698 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $756.00, for a total value of $4,307,688.00. Following the transaction, the director now owns 246 shares of the company’s stock, valued at approximately $185,976. This represents a 95.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 41,601 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $758.06, for a total value of $31,536,054.06. Following the sale, the chairman now owns 85 shares of the company’s stock, valued at approximately $64,435.10. This represents a 99.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 152,198 shares of company stock worth $127,616,898. 1.76% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NFLX. RPg Family Wealth Advisory LLC bought a new position in Netflix in the 3rd quarter worth $25,000. E Fund Management Hong Kong Co. Ltd. increased its position in Netflix by 700.0% in the third 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 in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Netflix in the third quarter worth about $37,000. FSA Wealth Management LLC purchased a new position in shares of Netflix during the 3rd quarter valued at about $38,000. Finally, First Personal Financial Services bought a new position in shares of Netflix during the 3rd quarter valued at approximately $40,000. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.