Netflix (NASDAQ:NFLX) Price Target Increased to $700.00 by Analysts at Bank of America

Netflix (NASDAQ:NFLX) had its price objective boosted by equities research analysts at Bank of America from $650.00 to $700.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the Internet television network’s stock. Bank of America‘s price objective points to a potential upside of 25.56% from the stock’s current price.

A number of other equities analysts also recently weighed in on the stock. Macquarie upped their price target on shares of Netflix from $595.00 to $685.00 and gave the stock an “outperform” rating in a research note on Tuesday. Robert W. Baird upped their price target on shares of Netflix from $500.00 to $600.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Benchmark restated a “sell” rating and set a $440.00 price target on shares of Netflix in a report on Thursday. Wells Fargo & Company upped their price target on shares of Netflix from $650.00 to $726.00 and gave the company an “overweight” rating in a report on Friday. Finally, Rosenblatt Securities decreased their price target on shares of Netflix from $554.00 to $540.00 and set a “neutral” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $630.58.

Netflix Price Performance

NFLX traded down $53.05 during trading on Friday, reaching $557.51. The stock had a trading volume of 11,640,996 shares, compared to its average volume of 4,387,285. The firm has a market capitalization of $241.27 billion, a price-to-earnings ratio of 46.42, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix has a 1-year low of $315.62 and a 1-year high of $639.00. The stock has a 50 day moving average of $605.77 and a two-hundred day moving average of $511.86.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same period in the previous year, the business earned $2.88 EPS. The company’s revenue was up 14.8% on a year-over-year basis. As a group, equities analysts anticipate that Netflix will post 17.05 EPS for the current fiscal year.

Insider Transactions at Netflix

In other news, insider David A. Hyman sold 47,574 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $17,003,651.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider David A. Hyman sold 47,574 shares of Netflix stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $556.01, for a total transaction of $148,454.67. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,575,476.10. The disclosure for this sale can be found here. Insiders have sold 268,335 shares of company stock worth $151,619,811 in the last ninety days. Insiders own 2.45% of the company’s stock.

Institutional Trading of Netflix

A number of institutional investors have recently bought and sold shares of the business. Evolution Wealth Advisors LLC boosted its holdings in Netflix by 21.1% in the 1st quarter. Evolution Wealth Advisors LLC now owns 625 shares of the Internet television network’s stock valued at $380,000 after purchasing an additional 109 shares during the period. SeaCrest Wealth Management LLC boosted its holdings in Netflix by 10.8% in the 1st quarter. SeaCrest Wealth Management LLC now owns 3,752 shares of the Internet television network’s stock valued at $2,279,000 after purchasing an additional 365 shares during the period. Naviter Wealth LLC boosted its holdings in Netflix by 12.0% in the 1st quarter. Naviter Wealth LLC now owns 2,592 shares of the Internet television network’s stock valued at $1,574,000 after purchasing an additional 277 shares during the period. Nvest Financial LLC boosted its holdings in Netflix by 18.3% in the 1st quarter. Nvest Financial LLC now owns 1,982 shares of the Internet television network’s stock valued at $1,204,000 after purchasing an additional 306 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in Netflix by 13.9% in the 1st quarter. State of Michigan Retirement System now owns 153,149 shares of the Internet television network’s stock valued at $93,012,000 after purchasing an additional 18,700 shares during the period. 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.