Netflix (NASDAQ:NFLX) Given New $1,200.00 Price Target at Canaccord Genuity Group

Netflix (NASDAQ:NFLX - Get Free Report) had its price target increased by investment analysts at Canaccord Genuity Group from $1,150.00 to $1,200.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a "buy" rating on the Internet television network's stock. Canaccord Genuity Group's price target would suggest a potential upside of 23.33% from the stock's current price.

Several other brokerages have also issued reports on NFLX. Barclays upgraded Netflix from an "underweight" rating to an "equal weight" rating and lifted their price target for the company from $715.00 to $900.00 in a research note on Wednesday, January 22nd. Argus lifted their target price on Netflix from $840.00 to $1,040.00 and gave the company a "buy" rating in a research report on Monday, January 6th. Sanford C. Bernstein raised shares of Netflix from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $975.00 to $1,200.00 in a report on Friday, January 24th. Loop Capital reaffirmed a "hold" rating on shares of Netflix in a report on Monday, March 24th. Finally, StockNews.com cut shares of Netflix from a "buy" rating to a "hold" rating in a research report on Tuesday, February 4th. Nine analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,039.91.

Netflix Stock Performance

NFLX opened at $973.03 on Monday. Netflix has a 52-week low of $542.01 and a 52-week high of $1,064.50. The business's fifty day moving average is $954.87 and its 200-day moving average is $894.38. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $416.22 billion, a P/E ratio of 49.07, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, beating the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion during the quarter, compared to analysts' expectations of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period in the previous year, the company earned $8.28 EPS. Sell-side analysts expect that Netflix will post 24.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Strive Masiyiwa sold 2,813 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total value of $2,835,138.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory K. Peters sold 4,939 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $1,030.00, for a total value of $5,087,170.00. Following the completion of the sale, the chief executive officer now directly owns 12,950 shares of the company's stock, valued at $13,338,500. The trade was a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 274,312 shares of company stock worth $267,919,297. 1.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its holdings in shares of Netflix by 13.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,692,563 shares of the Internet television network's stock worth $1,200,485,000 after acquiring an additional 198,148 shares during the last quarter. McIlrath & Eck LLC raised its stake in shares of Netflix by 13.8% in the third quarter. McIlrath & Eck LLC now owns 247 shares of the Internet television network's stock worth $175,000 after purchasing an additional 30 shares during the last quarter. Advisory Resource Group lifted its holdings in shares of Netflix by 0.7% in the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network's stock valued at $1,238,000 after purchasing an additional 12 shares in the last quarter. Virtu Financial LLC boosted its position in shares of Netflix by 356.5% during the third quarter. Virtu Financial LLC now owns 13,879 shares of the Internet television network's stock valued at $9,844,000 after buying an additional 10,839 shares during the last quarter. Finally, SOA Wealth Advisors LLC. boosted its position in shares of Netflix by 1.2% during the third quarter. SOA Wealth Advisors LLC. now owns 1,515 shares of the Internet television network's stock valued at $1,075,000 after buying an additional 18 shares during the last quarter. Institutional investors and hedge funds 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.

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