Netflix (NASDAQ:NFLX) Price Target Raised to $950.00

Netflix (NASDAQ:NFLX) had its price objective hoisted by Piper Sandler from $840.00 to $950.00 in a report issued on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the Internet television network’s stock.

Other analysts also recently issued reports about the stock. Pivotal Research lifted their price target on shares of Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. UBS Group boosted their target price on Netflix from $825.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Oppenheimer raised their price target on Netflix from $825.00 to $1,065.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Macquarie upped their price objective on Netflix from $795.00 to $965.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Citigroup raised their target price on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $845.06.

Netflix Stock Performance

NASDAQ:NFLX opened at $842.37 on Tuesday. The stock has a 50-day moving average price of $882.41 and a 200 day moving average price of $756.61. The stock has a market capitalization of $360.08 billion, a P/E ratio of 47.67, a P/E/G ratio of 1.35 and a beta of 1.27. Netflix has a 12-month low of $475.26 and a 12-month high of $941.75. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Equities research analysts forecast that Netflix will post 19.78 EPS for the current fiscal year.

Insider Transactions at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,198 shares of company stock valued at $127,616,898. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in shares of Netflix by 2.6% during the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares in the last quarter. Geode Capital Management LLC grew its stake in Netflix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares during the last quarter. Jennison Associates LLC increased its position in Netflix by 4.7% during the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after buying an additional 316,594 shares in the last quarter. International Assets Investment Management LLC raised its stake in Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Netflix by 0.5% in the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after acquiring an additional 23,702 shares in the last quarter. 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.