Netflix (NASDAQ:NFLX) Stock Rating Reaffirmed by Piper Sandler

Netflix (NASDAQ:NFLX)‘s stock had its “overweight” rating reaffirmed by equities research analysts at Piper Sandler in a research report issued on Friday, MarketBeat reports. They currently have a $840.00 price target on the Internet television network’s stock, up from their prior price target of $800.00. Piper Sandler’s price objective points to a potential upside of 9.96% from the company’s previous close.

A number of other equities analysts have also weighed in on NFLX. Loop Capital boosted their price objective on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday. Sanford C. Bernstein lifted their target price on Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday. TD Cowen lifted their target price on Netflix from $775.00 to $820.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Morgan Stanley boosted their price objective on Netflix from $820.00 to $830.00 and gave the company an “overweight” rating in a report on Friday. Finally, Pivotal Research boosted their price objective on Netflix from $900.00 to $925.00 and gave the company a “buy” rating in a report on Friday. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $747.70.

Netflix Stock Up 11.1 %

Shares of NFLX opened at $763.89 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix has a 12 month low of $392.26 and a 12 month high of $766.28. The stock’s 50 day moving average is $696.38 and its two-hundred day moving average is $654.94. The firm has a market cap of $329.24 billion, a P/E ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.29 earnings per share. Analysts predict that Netflix will post 19.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the transaction, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider David A. Hyman sold 20,656 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the sale, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 225,167 shares of company stock valued at $150,492,460 over the last quarter. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after acquiring an additional 149,341 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Netflix by 17.0% in the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after buying an additional 929,193 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of Netflix by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after buying an additional 106,756 shares during the period. Legal & General Group Plc boosted its holdings in shares of Netflix by 3.1% in the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock valued at $2,327,738,000 after buying an additional 104,332 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Netflix by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after buying an additional 83,762 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

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.