Netflix (NASDAQ:NFLX) Given New $1,100.00 Price Target at Guggenheim

Netflix (NASDAQ:NFLX) had its price objective boosted by Guggenheim from $950.00 to $1,100.00 in a report issued on Wednesday,Benzinga reports. Guggenheim currently has a buy rating on the Internet television network’s stock.

Several other equities research analysts also recently issued reports on NFLX. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a report on Saturday, December 21st. TD Cowen increased their target price on shares of Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. raised their price target on shares of Netflix from $1,000.00 to $1,150.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets reaffirmed an “outperform” rating and issued a $1,175.00 price objective (up from $1,000.00) on shares of Netflix in a research report on Wednesday. Finally, UBS Group lifted their target price on shares of Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $993.82.

Netflix Stock Up 9.7 %

Netflix stock opened at $953.99 on Wednesday. The firm has a market capitalization of $407.79 billion, a price-to-earnings ratio of 53.99, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27. The firm’s fifty day moving average price is $886.64 and its two-hundred day moving average price is $762.07. Netflix has a 1-year low of $481.40 and a 1-year high of $999.00. 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 announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter last year, the firm earned $2.11 EPS. On average, equities research analysts predict that Netflix will post 19.76 earnings per share for the current fiscal year.

Insider Buying and Selling at Netflix

In other news, Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total transaction of $8,405,776.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard N. Barton sold 5,698 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the completion of the transaction, the director now owns 246 shares in the company, valued at approximately $185,976. This trade represents a 95.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 152,198 shares of company stock valued at $127,616,898 in the last three months. Company insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Hedge funds and other institutional investors have recently bought and sold shares of the stock. DigitalBridge Group Inc. lifted its holdings in shares of Netflix by 35.5% during the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after acquiring an additional 9,451 shares during the last quarter. Nordea Investment Management AB lifted its stake in Netflix by 22.7% during the fourth quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after purchasing an additional 156,958 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Netflix by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after purchasing an additional 29,726 shares in the last quarter. Natixis Advisors LLC increased its position in shares of Netflix by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after purchasing an additional 11,921 shares during the last quarter. Finally, M&T Bank Corp raised its holdings in shares of Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after buying an additional 1,684 shares in the last quarter. Hedge funds and other institutional investors 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.