Netflix (NASDAQ:NFLX) Given New $700.00 Price Target at Guggenheim

Netflix (NASDAQ:NFLX) had its price objective hoisted by Guggenheim from $600.00 to $700.00 in a report issued on Tuesday morning, Benzinga reports. They currently have a buy rating on the Internet television network’s stock.

Several other research firms also recently commented on NFLX. TD Cowen lifted their price objective on shares of Netflix from $600.00 to $725.00 and gave the stock a buy rating in a research note on Monday, April 8th. Seaport Res Ptn downgraded shares of Netflix from a buy rating to a neutral rating in a research report on Tuesday, January 30th. Citigroup boosted their target price on shares of Netflix from $555.00 to $660.00 and gave the company a neutral rating in a research report on Monday, March 25th. Wedbush boosted their target price on shares of Netflix from $615.00 to $725.00 and gave the company an outperform rating in a research report on Wednesday, March 27th. Finally, Barclays boosted their target price on shares of Netflix from $475.00 to $550.00 and gave the company an equal weight rating in a research report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Netflix has a consensus rating of Moderate Buy and a consensus target price of $630.58.

Netflix Price Performance

NASDAQ NFLX opened at $555.04 on Tuesday. The firm’s fifty day simple moving average is $605.65 and its two-hundred day simple moving average is $513.07. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix has a 12-month low of $315.62 and a 12-month high of $639.00. The firm has a market capitalization of $240.20 billion, a P/E ratio of 46.21, a P/E/G ratio of 1.65 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping 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 business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same period in the previous year, the company earned $2.88 earnings per share. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. Analysts forecast that Netflix will post 17.05 EPS for the current fiscal year.

Insider Transactions at Netflix

In related news, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory K. Peters sold 5,352 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,181,250. The disclosure for this sale can be found here. Insiders sold 268,335 shares of company stock valued at $151,619,811 over the last 90 days. Corporate insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mezzasalma Advisors LLC boosted its holdings in Netflix by 1.3% in the 1st quarter. Mezzasalma Advisors LLC now owns 6,861 shares of the Internet television network’s stock valued at $4,167,000 after purchasing an additional 90 shares during the last quarter. FORVIS Wealth Advisors LLC boosted its holdings in Netflix by 119.4% in the 1st quarter. FORVIS Wealth Advisors LLC now owns 974 shares of the Internet television network’s stock valued at $592,000 after purchasing an additional 530 shares during the last quarter. Teamwork Financial Advisors LLC boosted its holdings in Netflix by 3,476.5% in the 1st quarter. Teamwork Financial Advisors LLC now owns 15,987 shares of the Internet television network’s stock valued at $9,709,000 after purchasing an additional 15,540 shares during the last quarter. Veracity Capital LLC boosted its holdings in Netflix by 44.8% in the 1st quarter. Veracity Capital LLC now owns 640 shares of the Internet television network’s stock valued at $389,000 after purchasing an additional 198 shares during the last quarter. Finally, Willis Johnson & Associates Inc. lifted its holdings in shares of Netflix by 9.0% in the 1st quarter. Willis Johnson & Associates Inc. now owns 1,030 shares of the Internet television network’s stock worth $626,000 after acquiring an additional 85 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.