Needham & Company LLC Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its price target hoisted by Needham & Company LLC from $800.00 to $1,150.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the Internet television network’s stock.

NFLX has been the topic of a number of other reports. Bank of America increased their price objective on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. Evercore ISI increased their price objective on shares of Netflix from $775.00 to $950.00 and gave the company an “outperform” rating in a research report on Monday, December 2nd. Sanford C. Bernstein increased their price objective on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Citigroup increased their price objective on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research report on Thursday, December 5th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $1,009.29.

Netflix Price Performance

Netflix stock opened at $977.59 on Wednesday. The firm has a market cap of $417.88 billion, a PE ratio of 49.30, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. Netflix has a 52-week low of $542.01 and a 52-week high of $999.00. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $892.06 and its two-hundred day moving average is $764.95.

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 38.32%. 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. On average, research analysts expect that Netflix will post 23.72 EPS for the current fiscal year.

Insider Transactions at Netflix

In other news, Director Jay C. Hoag sold 617 shares of the firm’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total value of $604,481.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 41,601 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $758.06, for a total transaction of $31,536,054.06. Following the completion of the sale, the chairman now owns 85 shares of the company’s stock, valued at $64,435.10. This trade represents a 99.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,117 shares of company stock worth $123,913,691. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix in the third quarter valued at about $25,000. Princeton Global Asset Management LLC lifted its stake in shares of Netflix by 51.6% in the fourth quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after purchasing an additional 16 shares during the period. E Fund Management Hong Kong Co. Ltd. lifted its stake in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares during the period. Decker Retirement Planning Inc. acquired a new stake in shares of Netflix in the fourth quarter valued at about $43,000. Finally, EMC Capital Management acquired a new stake in shares of Netflix in the fourth quarter valued at about $45,000. 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.