Netflix (NASDAQ:NFLX) PT Raised to $450.00

Netflix (NASDAQ:NFLX – Get Rating) had its price objective lifted by Oppenheimer from $415.00 to $450.00 in a research note issued to investors on Wednesday, The Fly reports. Oppenheimer’s price target would suggest a potential upside of 25.35% from the stock’s current price.

Several other research analysts have also issued reports on the company. Citigroup raised their target price on Netflix from $395.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, March 16th. Robert W. Baird began coverage on Netflix in a report on Tuesday, April 11th. They issued a “neutral” rating and a $340.00 target price on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Netflix from $400.00 to $410.00 and gave the stock a “buy” rating in a report on Wednesday, April 19th. JPMorgan Chase & Co. reduced their price objective on shares of Netflix from $390.00 to $380.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 19th. Finally, Credit Suisse Group lifted their target price on shares of Netflix from $291.00 to $331.00 in a research note on Tuesday, April 18th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $348.75.

Netflix Stock Down 1.6 %

Shares of NFLX opened at $359.00 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.26. Netflix has a 52 week low of $164.28 and a 52 week high of $379.43. The stock has a market capitalization of $159.59 billion, a price-to-earnings ratio of 38.60, a PEG ratio of 1.42 and a beta of 1.27. The stock has a fifty day moving average of $333.63 and a 200-day moving average of $322.48.

Netflix (NASDAQ:NFLX – Get Rating) last released its quarterly earnings data on Tuesday, April 18th. The Internet television network reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.83 by $0.05. Netflix had a return on equity of 20.43% and a net margin of 13.16%. The company had revenue of $8.16 billion during the quarter, compared to the consensus estimate of $8.18 billion. During the same quarter in the prior year, the firm posted $3.53 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Netflix will post 11.19 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Reed Hastings sold 26,278 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $323.96, for a total transaction of $8,513,020.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Netflix news, Director Timothy M. Haley sold 7,147 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $334.28, for a total transaction of $2,389,099.16. Following the completion of the transaction, the director now directly owns 86 shares of the company’s stock, valued at $28,748.08. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Reed Hastings sold 26,278 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $323.96, for a total value of $8,513,020.88. The disclosure for this sale can be found here. Insiders own 2.45% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several large investors have recently added to or reduced their stakes in the company. Baldrige Asset Management LLC boosted its position in Netflix by 156.3% during the first quarter. Baldrige Asset Management LLC now owns 82 shares of the Internet television network’s stock worth $28,000 after purchasing an additional 50 shares during the period. Phocas Financial Corp. bought a new stake in Netflix during the 4th quarter valued at $29,000. Yarbrough Capital LLC purchased a new stake in shares of Netflix during the fourth quarter worth $29,000. Tanglewood Legacy Advisors LLC bought a new position in shares of Netflix in the fourth quarter worth $29,000. Finally, Barrett & Company Inc. purchased a new position in shares of Netflix in the first quarter valued at $29,000. Hedge funds and other institutional investors own 77.26% of the company’s stock.

About Netflix

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Netflix, Inc engages in providing entertainment services. It also offers a broad set of activities for leisure time, entertainment video, video gaming, and other sources of entertainment. It operates through the United States and International geographic segments. The company was founded by Marc Randolph and Wilmot Reed Hastings on August 29, 1997 and is headquartered in Los Gatos, CA.