Netflix (NASDAQ:NFLX) Price Target Raised to $1,150.00 at JPMorgan Chase & Co.

Netflix (NASDAQ:NFLX) had its target price increased by investment analysts at JPMorgan Chase & Co. from $1,000.00 to $1,150.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the Internet television network’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 16.77% from the company’s current price.

NFLX has been the topic of a number of other research reports. Argus increased their price target on Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Needham & Company LLC boosted their target price on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Robert W. Baird raised their price target on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Wednesday. Evercore ISI upped their price target on Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Finally, TD Cowen raised their price objective on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average target price of $996.94.

Netflix Stock Up 3.2 %

Shares of NASDAQ:NFLX opened at $984.86 on Wednesday. The firm has a market capitalization of $420.99 billion, a PE ratio of 49.67, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. Netflix has a 1 year low of $537.07 and a 1 year high of $999.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. The firm’s 50-day moving average is $889.11 and its two-hundred day moving average is $763.41.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the business earned $2.11 EPS. Analysts predict that Netflix will post 23.43 EPS for the current year.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the sale, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Insiders have sold 146,500 shares of company stock worth $123,309,210 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of large investors have recently made changes to their positions in the stock. State Street Corp lifted its holdings in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after buying an additional 123,029 shares during the last quarter. Jennison Associates LLC lifted its stake in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares during the period. International Assets Investment Management LLC boosted its position in Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after acquiring an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after acquiring an additional 23,702 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Company Profile

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.