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

Netflix (NASDAQ:NFLX - Get Free Report) had its price objective upped by analysts at Needham & Company LLC from $800.00 to $1,150.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the Internet television network's stock. Needham & Company LLC's price target points to a potential upside of 32.23% from the company's current price.

Several other equities research analysts also recently issued reports on NFLX. Morgan Stanley boosted their price objective on Netflix from $1,050.00 to $1,150.00 and gave the company an "overweight" rating in a report on Wednesday. Seaport Res Ptn upgraded shares of Netflix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Netflix from $650.00 to $875.00 and gave the company a "hold" rating in a research note on Wednesday. Jefferies Financial Group upped their target price on shares of Netflix from $780.00 to $800.00 and gave the stock a "buy" rating in a research note on Friday, October 18th. Finally, Wolfe Research reissued an "outperform" rating on shares of Netflix in a research report on Friday, October 18th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $952.30.

Netflix Trading Up 1.3 %

NASDAQ NFLX opened at $869.68 on Wednesday. Netflix has a 12 month low of $479.90 and a 12 month high of $941.75. The stock has a market capitalization of $371.75 billion, a P/E ratio of 49.22, a PEG ratio of 1.40 and a beta of 1.27. The firm's 50-day moving average is $885.64 and its two-hundred day moving average is $760.81. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts' consensus estimates of $4.20 by $0.07. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $10.25 billion during the quarter, compared to analysts' expectations of $10,141,900 billion. During the same quarter last year, the company posted $2.11 EPS. The firm's quarterly revenue was up 16.0% on a year-over-year basis. On average, sell-side analysts anticipate that Netflix will post 19.76 earnings per share for the current year.

Insider Activity

In other news, Chairman Reed Hastings sold 35,868 shares of the business's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the transaction, the chairman now owns 114 shares of the company's stock, valued at approximately $101,241.12. The trade was a 99.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 5,698 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $756.00, for a total value of $4,307,688.00. Following the sale, the director now directly owns 246 shares of the company's stock, valued at approximately $185,976. This represents a 95.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 152,198 shares of company stock valued at $127,616,898. Insiders own 1.76% of the company's stock.

Hedge Funds Weigh In On Netflix

A number of large investors have recently bought and sold shares of NFLX. DigitalBridge Group Inc. increased its stake in shares of Netflix by 35.5% during the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network's stock worth $24,338,000 after acquiring an additional 9,451 shares during the period. Nordea Investment Management AB boosted its holdings in Netflix by 22.7% in the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network's stock valued at $760,918,000 after purchasing an additional 156,958 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Netflix by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network's stock worth $1,829,494,000 after purchasing an additional 29,726 shares during the period. Natixis Advisors LLC raised its stake in shares of Netflix by 2.0% during the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network's stock worth $434,398,000 after buying an additional 11,921 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Netflix by 4.2% in the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network's stock valued at $29,751,000 after buying an additional 1,684 shares during the period. Hedge funds and other institutional investors 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.

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