Goldman Sachs Group Boosts Netflix (NASDAQ:NFLX) Price Target to $450.00

Netflix (NASDAQ:NFLX) had its target price raised by Goldman Sachs Group from $400.00 to $450.00 in a research report sent to investors on Tuesday morning, Borsen Zeitung reports. Goldman Sachs Group currently has a buy rating on the Internet television network’s stock.

Several other research firms have also recently weighed in on NFLX. Sanford C. Bernstein cut their price objective on Netflix from $450.00 to $422.00 and set an outperform rating on the stock in a report on Thursday, October 17th. Morgan Stanley cut their price objective on Netflix from $450.00 to $400.00 and set an overweight rating on the stock in a report on Monday, October 14th. Piper Jaffray Companies reiterated a buy rating and set a $400.00 price objective on shares of Netflix in a report on Wednesday, December 11th. Guggenheim cut their price objective on Netflix from $420.00 to $400.00 and set a buy rating on the stock in a report on Thursday, October 17th. Finally, Pivotal Research lifted their price objective on Netflix from $400.00 to $425.00 and gave the company a buy rating in a report on Thursday, December 19th. Five equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have assigned a buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $374.29.

NFLX traded up $1.05 during midday trading on Tuesday, reaching $339.67. 6,040,481 shares of the company were exchanged, compared to its average volume of 5,398,156. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.73 and a current ratio of 0.73. Netflix has a one year low of $252.28 and a one year high of $385.99. The stock has a market capitalization of $148.72 billion, a P/E ratio of 126.74, a PEG ratio of 2.07 and a beta of 1.28. The stock’s 50-day simple moving average is $321.17 and its 200 day simple moving average is $308.00.

Netflix (NASDAQ:NFLX) last issued its earnings results on Wednesday, October 16th. The Internet television network reported $1.47 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.42. Netflix had a return on equity of 23.65% and a net margin of 7.49%. The firm had revenue of $5.25 billion for the quarter, compared to analysts’ expectations of $5.25 billion. During the same quarter last year, the business earned $0.89 earnings per share. The company’s revenue was up 31.2% compared to the same quarter last year. On average, research analysts anticipate that Netflix will post 3.33 earnings per share for the current year.

In related news, CEO Reed Hastings sold 40,061 shares of Netflix stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $275.64, for a total value of $11,042,414.04. Following the sale, the chief executive officer now owns 40,061 shares of the company’s stock, valued at approximately $11,042,414.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.29% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in NFLX. Nuveen Asset Management LLC acquired a new stake in Netflix in the 2nd quarter valued at approximately $1,246,724,000. Invesco Ltd. increased its position in shares of Netflix by 39.1% during the 2nd quarter. Invesco Ltd. now owns 7,249,377 shares of the Internet television network’s stock worth $2,662,841,000 after purchasing an additional 2,039,046 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of Netflix by 142.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,216,329 shares of the Internet television network’s stock worth $593,134,000 after purchasing an additional 1,302,678 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Netflix by 3.5% during the 2nd quarter. Vanguard Group Inc. now owns 32,688,805 shares of the Internet television network’s stock worth $12,007,252,000 after purchasing an additional 1,118,349 shares during the last quarter. Finally, OZ Management LP acquired a new position in shares of Netflix during the 2nd quarter worth approximately $228,716,000. 80.80% of the stock is currently owned by institutional investors and hedge funds.

About Netflix

Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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