Wells Fargo & Company Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX) had its target price increased by analysts at Wells Fargo & Company from $1,210.00 to $1,222.00 in a note issued to investors on Monday. The firm currently has an “overweight” rating on the Internet television network’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 25.59% from the company’s current price.

Other equities analysts have also issued research reports about the company. Canaccord Genuity Group lifted their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock a “buy” rating in a research report on Monday. JPMorgan Chase & Co. reduced their price objective on shares of Netflix from $1,150.00 to $1,025.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Pivotal Research reiterated a “buy” rating and issued a $1,350.00 target price (up previously from $1,250.00) on shares of Netflix in a research note on Thursday. Benchmark upgraded shares of Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Finally, Seaport Res Ptn upgraded shares of Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Nine analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,066.24.

Netflix Stock Up 1.2 %

NASDAQ:NFLX opened at $973.03 on Monday. Netflix has a 1-year low of $542.01 and a 1-year high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22. The firm’s 50-day moving average price is $954.87 and its 200-day moving average price is $894.38. The company has a market capitalization of $416.22 billion, a PE ratio of 49.07, a P/E/G ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion for the quarter, compared to analysts’ expectations of $10.51 billion. During the same period in the previous year, the firm posted $8.28 EPS. On average, equities analysts predict that Netflix will post 24.58 EPS for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,939 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the sale, the chief executive officer now owns 12,950 shares in the company, valued at $13,338,500. The trade was a 27.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jay C. Hoag sold 617 shares of the business’s stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 274,312 shares of company stock valued at $267,919,297. 1.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Netflix

Institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in shares of Netflix by 22.7% in 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. First National Trust Co raised its stake in shares of Netflix by 1.0% during the fourth quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock valued at $1,121,000 after acquiring an additional 12 shares in the last quarter. Haven Private LLC purchased a new stake in shares of Netflix in the fourth quarter valued at approximately $733,000. Sigma Planning Corp increased its holdings in Netflix by 7.4% during the 4th quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after purchasing an additional 386 shares during the period. Finally, Quilter Plc raised its position in Netflix by 8.2% during the 4th quarter. Quilter Plc now owns 143,757 shares of the Internet television network’s stock valued at $128,133,000 after purchasing an additional 10,946 shares in the last quarter. 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.