Bank of America Raises Netflix (NFLX) Price Target to $347.00

Netflix (NASDAQ:NFLX) had its price objective boosted by equities research analysts at Bank of America from $300.00 to $347.00 in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the Internet television network’s stock. Bank of America’s price target would indicate a potential upside of 5.56% from the company’s current price.

A number of other brokerages have also issued reports on NFLX. Piper Jaffray raised their price objective on shares of Netflix to $360.00 and gave the company an “overweight” rating in a report on Friday, March 9th. BMO Capital Markets raised their price objective on shares of Netflix from $310.00 to $324.00 and gave the company a “market perform” rating in a report on Tuesday. Robert W. Baird raised their price objective on shares of Netflix from $280.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday. Morgan Stanley raised their price objective on shares of Netflix from $350.00 to $370.00 and gave the company an “overweight” rating in a report on Tuesday. Finally, Sanford C. Bernstein reiterated an “outperform” rating and issued a $340.00 price objective (up previously from $302.00) on shares of Netflix in a report on Friday, March 9th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating, thirty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $293.22.

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NASDAQ NFLX traded up $20.94 during trading hours on Tuesday, reaching $328.72. The company’s stock had a trading volume of 10,672,726 shares, compared to its average volume of 11,347,278. The firm has a market cap of $135,240.03, a PE ratio of 263.46, a price-to-earnings-growth ratio of 4.27 and a beta of 0.99. Netflix has a 52 week low of $138.66 and a 52 week high of $333.98. The company has a debt-to-equity ratio of 1.81, a current ratio of 1.40 and a quick ratio of 1.40.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, April 16th. The Internet television network reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The business had revenue of $3.70 billion during the quarter, compared to analyst estimates of $3.69 billion. Netflix had a net margin of 4.78% and a return on equity of 17.20%. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter last year, the business earned $0.40 EPS. research analysts anticipate that Netflix will post 2.74 earnings per share for the current fiscal year.

In other Netflix news, insider Gregory K. Peters sold 8,358 shares of Netflix stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $255.20, for a total transaction of $2,132,961.60. Following the transaction, the insider now directly owns 21,448 shares of the company’s stock, valued at approximately $5,473,529.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard N. Barton sold 700 shares of Netflix stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $283.39, for a total transaction of $198,373.00. Following the transaction, the director now directly owns 7,393 shares in the company, valued at $2,095,102.27. The disclosure for this sale can be found here. Insiders have sold a total of 442,200 shares of company stock worth $119,779,880 over the last ninety days. Insiders own 4.90% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. James Hambro & Partners purchased a new position in Netflix during the 4th quarter worth $106,000. Duncker Streett & Co. Inc. boosted its holdings in Netflix by 47.1% during the 4th quarter. Duncker Streett & Co. Inc. now owns 625 shares of the Internet television network’s stock worth $120,000 after acquiring an additional 200 shares during the last quarter. Wagner Wealth Management LLC purchased a new position in Netflix during the 4th quarter worth $125,000. Crewe Advisors LLC purchased a new position in Netflix during the 4th quarter worth $149,000. Finally, Goodman Financial Corp bought a new stake in shares of Netflix during the 4th quarter worth $163,000. 81.65% of the stock is currently owned by hedge funds and other institutional investors.

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Netflix Company Profile

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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