Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, Citigroup Analyst Says

Netflix (NASDAQ:NFLX) had its target price raised by investment analysts at Citigroup from $725.00 to $920.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the Internet television network’s stock. Citigroup’s price objective suggests a potential downside of 1.58% from the company’s current price.

Several other analysts have also commented on the company. Sanford C. Bernstein boosted their price target on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. KeyCorp boosted their target price on shares of Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. BMO Capital Markets reiterated an “outperform” rating and set a $825.00 target price (up previously from $770.00) on shares of Netflix in a research report on Friday, October 18th. Oppenheimer boosted their price target on shares of Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research report on Friday, October 18th. Finally, Guggenheim raised their price objective on shares of Netflix from $810.00 to $825.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $783.00.

Netflix Trading Up 1.8 %

Shares of Netflix stock opened at $934.74 on Thursday. The company’s fifty day moving average price is $788.37 and its two-hundred day moving average price is $707.66. The firm has a market capitalization of $399.56 billion, a PE ratio of 52.90, a price-to-earnings-growth ratio of 1.74 and a beta of 1.27. Netflix has a 52-week low of $448.32 and a 52-week high of $935.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

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

Insider Buying and Selling

In related news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Jay C. Hoag sold 43,750 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the completion of the transaction, the director now directly owns 95,040 shares of the company’s stock, valued at approximately $65,299,132.80. The trade was a 31.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 209,155 shares of company stock valued at $159,682,799. 1.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after purchasing an additional 642,920 shares in the last quarter. State Street Corp increased its stake in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after buying an additional 426,740 shares during the last quarter. Jennison Associates LLC lifted its position in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Netflix during the 3rd quarter worth about $222,871,000. 80.93% of the stock is currently 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.