Piper Sandler Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its price objective hoisted by research analysts at Piper Sandler from $840.00 to $950.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the Internet television network’s stock. Piper Sandler’s price target would indicate a potential upside of 14.23% from the stock’s current price.

Several other equities research analysts also recently commented on NFLX. Guggenheim upped their target price on shares of Netflix from $825.00 to $950.00 and gave the company a “buy” rating in a research note on Monday. Pivotal Research raised their price objective on Netflix from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. decreased their target price on Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft raised their price target on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research report on Wednesday, October 9th. Finally, Barclays increased their target price on Netflix from $550.00 to $715.00 and gave the stock an “underweight” rating in a research note on Tuesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $841.27.

Netflix Trading Down 1.0 %

Shares of NASDAQ:NFLX traded down $8.65 during midday trading on Tuesday, hitting $831.64. The company had a trading volume of 896,402 shares, compared to its average volume of 2,800,454. 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 has a 12 month low of $475.26 and a 12 month high of $941.75. The firm has a fifty day simple moving average of $879.75 and a 200 day simple moving average of $754.88. The stock has a market cap of $355.49 billion, a price-to-earnings ratio of 47.07, a PEG ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, analysts predict that Netflix will post 19.78 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, Director Richard N. Barton sold 6,364 shares of the company’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the sale, the director now owns 246 shares in the company, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gregory K. Peters sold 4,186 shares of the firm’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $750.00, for a total value of $3,139,500.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $9,817,500. This trade represents a 24.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 156,742 shares of company stock valued at $131,030,268 in the last 90 days. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the period. Geode Capital Management LLC boosted its holdings in shares of 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 in the last quarter. Jennison Associates LLC grew its holdings in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after purchasing an additional 316,594 shares during the period. International Assets Investment Management LLC increased 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 purchasing an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after buying an additional 23,702 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

About Netflix

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.