Netflix (NASDAQ:NFLX) Price Target Raised to $1,000.00 at Bank of America

Netflix (NASDAQ:NFLX) had its price objective boosted by Bank of America from $800.00 to $1,000.00 in a research report report published on Thursday,Benzinga reports. Bank of America currently has a buy rating on the Internet television network’s stock.

A number of other research analysts have also recently commented on NFLX. The Goldman Sachs Group set a $750.00 price target on shares of Netflix in a research note on Friday, October 18th. TD Cowen raised their target price on Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Deutsche Bank Aktiengesellschaft upped their price target on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research report on Wednesday, October 9th. UBS Group lifted their price objective on Netflix from $750.00 to $825.00 and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Benchmark reaffirmed a “sell” rating and issued a $545.00 target price on shares of Netflix in a report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $764.82.

Netflix Price Performance

Shares of NFLX stock opened at $897.79 on Thursday. Netflix has a 12 month low of $445.73 and a 12 month high of $908.00. The company has a market capitalization of $383.77 billion, a P/E ratio of 50.81, a P/E/G ratio of 1.73 and a beta of 1.25. The stock has a 50 day moving average of $755.40 and a two-hundred day moving average of $691.50. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 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 analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. As a group, equities analysts expect that Netflix will post 19.78 EPS for the current year.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 25,074 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $680.92, for a total transaction of $17,073,388.08. Following the transaction, the chairman now owns 85 shares of the company’s stock, valued at $57,878.20. The trade was a 99.66 % 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. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,866 shares of company stock worth $133,393,921. Insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several hedge funds and other institutional investors have recently modified their holdings of NFLX. Advisors Asset Management Inc. lifted its holdings in Netflix by 10.2% during the 1st quarter. Advisors Asset Management Inc. now owns 5,092 shares of the Internet television network’s stock worth $3,093,000 after purchasing an additional 471 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Netflix by 24.8% in the first quarter. Westwood Holdings Group Inc. now owns 3,570 shares of the Internet television network’s stock valued at $2,168,000 after acquiring an additional 710 shares in the last quarter. Gamco Investors INC. ET AL raised its stake in Netflix by 2.1% in the 1st quarter. Gamco Investors INC. ET AL now owns 20,420 shares of the Internet television network’s stock worth $12,402,000 after purchasing an additional 413 shares in the last quarter. Epoch Investment Partners Inc. bought a new stake in Netflix in the 1st quarter valued at about $260,000. Finally, Lazard Asset Management LLC boosted its holdings in Netflix by 35.0% in the 1st quarter. Lazard Asset Management LLC now owns 128,449 shares of the Internet television network’s stock valued at $78,010,000 after purchasing an additional 33,269 shares during the period. 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.