Macquarie Raises Netflix (NASDAQ:NFLX) Price Target to $795.00

Netflix (NASDAQ:NFLX) had its target price increased by Macquarie from $695.00 to $795.00 in a research note published on Friday morning, Benzinga reports. Macquarie currently has an outperform rating on the Internet television network’s stock.

A number of other equities analysts also recently commented on the company. TD Cowen upped their target price on Netflix from $775.00 to $820.00 and gave the company a buy rating in a report on Monday, October 7th. Morgan Stanley raised their target price on shares of Netflix from $780.00 to $820.00 and gave the stock an overweight rating in a research report on Thursday, October 10th. Oppenheimer lifted their target price on shares of Netflix from $725.00 to $775.00 and gave the company an outperform rating in a research note on Thursday, October 10th. Piper Sandler upgraded shares of Netflix from a neutral rating to an overweight rating and raised their price objective for the stock from $650.00 to $800.00 in a report on Monday, October 7th. Finally, StockNews.com upgraded Netflix from a hold rating to a buy rating in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $702.79.

Netflix Price Performance

Shares of Netflix stock opened at $713.00 on Friday. The stock has a market capitalization of $307.30 billion, a P/E ratio of 49.48, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. Netflix has a one year low of $344.73 and a one year high of $736.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The business’s 50 day simple moving average is $688.89 and its two-hundred day simple moving average is $652.34.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The firm’s revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.29 EPS. Analysts forecast that Netflix will post 19.08 EPS for the current year.

Insiders Place Their Bets

In other news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the sale, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of Netflix stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the sale, the director now directly owns 35,262 shares in the company, valued at approximately $25,741,260. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 225,167 shares of company stock valued at $150,492,460. Insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Creative Planning increased its stake in shares of Netflix by 10.8% in the 3rd quarter. Creative Planning now owns 110,551 shares of the Internet television network’s stock valued at $78,410,000 after purchasing an additional 10,782 shares in the last quarter. Wesbanco Bank Inc. raised its stake in shares of Netflix by 12.0% during the 3rd quarter. Wesbanco Bank Inc. now owns 8,979 shares of the Internet television network’s stock worth $6,369,000 after buying an additional 964 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Netflix by 5.6% during the 3rd quarter. Sivia Capital Partners LLC now owns 1,124 shares of the Internet television network’s stock valued at $797,000 after buying an additional 60 shares in the last quarter. Grove Bank & Trust increased its holdings in Netflix by 3.0% in the 3rd quarter. Grove Bank & Trust now owns 4,002 shares of the Internet television network’s stock worth $2,838,000 after acquiring an additional 117 shares in the last quarter. Finally, Empirical Asset Management LLC acquired a new position in Netflix during the third quarter worth $816,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

About Netflix

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.