Pivotal Research Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX) had its price target lifted by investment analysts at Pivotal Research from $925.00 to $1,100.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the Internet television network’s stock. Pivotal Research’s target price indicates a potential upside of 26.25% from the stock’s previous close.

A number of other analysts have also recently commented on NFLX. Guggenheim upped their price target on shares of Netflix from $810.00 to $825.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. TD Cowen boosted their target price on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Morgan Stanley raised their price objective on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Loop Capital lifted their price target on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Finally, StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $758.76.

Netflix Stock Performance

NASDAQ:NFLX opened at $871.32 on Wednesday. The stock has a 50 day simple moving average of $743.15 and a 200 day simple moving average of $685.41. The stock has a market cap of $372.45 billion, a P/E ratio of 49.31, a PEG ratio of 1.59 and a beta of 1.25. Netflix has a 1-year low of $445.73 and a 1-year high of $874.49. 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 for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion. Research analysts anticipate that Netflix will post 19.78 earnings per share for the current year.

Insider Buying and Selling at Netflix

In related news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. This represents a 0.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jay C. Hoag sold 43,750 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $687.07, for a total transaction of $30,059,312.50. Following the completion of the sale, the director now owns 95,040 shares in the company, valued at $65,299,132.80. The trade was a 31.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 185,277 shares of company stock worth $132,875,601 in the last 90 days. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Institutional investors have recently bought and sold shares of the stock. DigitalBridge Group Inc. increased its holdings in shares of Netflix by 35.5% in the 2nd quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares during the period. Natixis Advisors LLC lifted its position in 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 acquiring an additional 11,921 shares during the last quarter. Venturi Wealth Management LLC boosted its stake in Netflix by 27.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 3,077 shares of the Internet television network’s stock valued at $2,182,000 after purchasing an additional 664 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of Netflix by 58.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after acquiring an additional 30,511 shares during the period. Finally, Forsta AP Fonden grew its position in Netflix by 7.7% in the 3rd quarter. Forsta AP Fonden now owns 121,400 shares of the Internet television network’s stock worth $86,105,000 after purchasing an additional 8,700 shares during 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.