Netflix (NASDAQ:NFLX) Upgraded at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of Netflix (NASDAQ:NFLX) from a market perform rating to an outperform rating in a research note published on Friday, MarketBeat reports. Sanford C. Bernstein currently has $1,200.00 price target on the Internet television network’s stock, up from their previous price target of $975.00.

A number of other equities research analysts have also issued reports on the stock. Canaccord Genuity Group upgraded shares of Netflix from a “hold” rating to a “buy” rating and upped their target price for the company from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd. UBS Group upped their price objective on Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Citigroup lifted their target price on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research report on Thursday, December 5th. Jefferies Financial Group upped their price target on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Finally, Loop Capital lifted their price objective on shares of Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a report on Wednesday, January 22nd. Nine research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Price Performance

NFLX opened at $977.59 on Friday. Netflix has a twelve month low of $542.01 and a twelve month high of $999.00. The firm has a market cap of $417.88 billion, a price-to-earnings ratio of 49.30, a PEG ratio of 1.53 and a beta of 1.27. The company has a current ratio of 1.22, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. The company has a fifty day simple moving average of $895.13 and a 200 day simple moving average of $767.55.

Netflix (NASDAQ:NFLX) last announced 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. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.11 earnings per share. Equities research analysts expect that Netflix will post 23.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the sale, the chairman now directly owns 114 shares in the company, valued at $102,212.40. This trade represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 147,117 shares of company stock worth $123,913,691. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several large investors have recently made changes to their positions in NFLX. RPg Family Wealth Advisory LLC acquired a new position in shares of Netflix during the 3rd quarter worth about $25,000. Princeton Global Asset Management LLC increased its position in shares of Netflix by 51.6% during the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock worth $42,000 after purchasing an additional 16 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares during the period. Decker Retirement Planning Inc. bought a new position in shares of Netflix during the 4th quarter worth approximately $43,000. Finally, EMC Capital Management bought a new position in shares of Netflix during the fourth quarter worth approximately $45,000. 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.