Oppenheimer Raises Netflix (NASDAQ:NFLX) Price Target to $400.00

Netflix (NASDAQ:NFLX) had its price objective raised by Oppenheimer from $385.00 to $400.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. They currently have an outperform rating on the Internet television network’s stock. Oppenheimer also issued estimates for Netflix’s Q2 2020 earnings at $1.55 EPS, Q3 2020 earnings at $1.92 EPS and Q4 2020 earnings at $0.88 EPS.

A number of other equities research analysts have also weighed in on the company. Credit Suisse Group restated a buy rating and set a $440.00 price target on shares of Netflix in a research note on Wednesday. Bank of America dropped their price target on Netflix from $450.00 to $426.00 and set a buy rating on the stock in a research note on Thursday, October 17th. Royal Bank of Canada dropped their price target on Netflix from $450.00 to $420.00 and set an outperform rating on the stock in a research note on Thursday, October 17th. Rosenblatt Securities boosted their price target on Netflix from $265.00 to $275.00 and gave the stock a neutral rating in a research note on Tuesday. Finally, Stifel Nicolaus restated a buy rating and set a $400.00 price target on shares of Netflix in a research note on Tuesday, January 14th. Five equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Netflix presently has an average rating of Hold and an average target price of $377.58.

Netflix stock traded up $23.60 during trading hours on Wednesday, reaching $349.60. The stock had a trading volume of 18,163,072 shares, compared to its average volume of 7,937,732. Netflix has a 52 week low of $252.28 and a 52 week high of $385.99. The company has a market cap of $153.07 billion, a price-to-earnings ratio of 84.65, a PEG ratio of 2.07 and a beta of 1.28. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.73 and a quick ratio of 0.73. The business’s 50 day moving average price is $324.11 and its 200-day moving average price is $306.89.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $1.30 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.78. Netflix had a return on equity of 30.00% and a net margin of 9.26%. The business had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.45 billion. During the same quarter in the previous year, the firm earned $0.30 earnings per share. The company’s revenue was up 30.6% on a year-over-year basis. On average, sell-side analysts forecast that Netflix will post 5.45 EPS for the current fiscal year.

In related news, CEO Reed Hastings sold 54,516 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $312.04, for a total value of $17,011,172.64. Following the sale, the chief executive officer now owns 54,516 shares in the company, valued at $17,011,172.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.29% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Maverick Capital Ltd. lifted its holdings in Netflix by 695.9% in the third quarter. Maverick Capital Ltd. now owns 522,778 shares of the Internet television network’s stock valued at $139,906,000 after acquiring an additional 457,098 shares during the period. Sunbelt Securities Inc. lifted its holdings in Netflix by 106.0% in the third quarter. Sunbelt Securities Inc. now owns 6,356 shares of the Internet television network’s stock valued at $1,701,000 after acquiring an additional 3,271 shares during the period. Bristlecone Advisors LLC lifted its holdings in Netflix by 14.7% in the fourth quarter. Bristlecone Advisors LLC now owns 2,086 shares of the Internet television network’s stock valued at $675,000 after acquiring an additional 268 shares during the period. Bath Savings Trust Co acquired a new position in Netflix in the fourth quarter valued at approximately $211,000. Finally, GVO Asset Management Ltd acquired a new position in Netflix in the third quarter valued at approximately $2,409,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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