Shares of Netflix, Inc. (NASDAQ:NFLX – Get Free Report) were up 2.2% during trading on Tuesday after TD Cowen raised their price target on the stock from $775.00 to $820.00. TD Cowen currently has a buy rating on the stock. Netflix traded as high as $718.59 and last traded at $717.46. Approximately 832,201 shares changed hands during mid-day trading, a decline of 77% from the average daily volume of 3,657,759 shares. The stock had previously closed at $701.92.
Other research analysts have also recently issued reports about the stock. Pivotal Research increased their target price on shares of Netflix from $800.00 to $900.00 and gave the stock a “buy” rating in a report on Friday, August 30th. UBS Group increased their price objective on shares of Netflix from $685.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Piper Sandler raised shares of Netflix from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $650.00 to $800.00 in a research report on Monday. Needham & Company LLC reissued a “buy” rating and set a $700.00 price target on shares of Netflix in a research report on Friday, July 19th. Finally, Oppenheimer reissued an “outperform” rating and set a $725.00 price target on shares of Netflix in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $691.76.
Check Out Our Latest Report on NFLX
Insider Transactions at Netflix
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the company. Daymark Wealth Partners LLC grew its holdings in Netflix by 3.2% in the 3rd quarter. Daymark Wealth Partners LLC now owns 2,225 shares of the Internet television network’s stock valued at $1,578,000 after buying an additional 69 shares during the period. Sovereign Financial Group Inc. grew its holdings in shares of Netflix by 42.9% during the 3rd quarter. Sovereign Financial Group Inc. now owns 440 shares of the Internet television network’s stock worth $312,000 after purchasing an additional 132 shares during the period. Gratus Wealth Advisors LLC lifted its position in Netflix by 10.3% during the 3rd quarter. Gratus Wealth Advisors LLC now owns 1,856 shares of the Internet television network’s stock worth $1,303,000 after acquiring an additional 174 shares in the last quarter. Talbot Financial LLC lifted its position in Netflix by 5.2% during the 3rd quarter. Talbot Financial LLC now owns 16,264 shares of the Internet television network’s stock worth $11,536,000 after acquiring an additional 808 shares in the last quarter. Finally, Brookstone Capital Management lifted its position in Netflix by 6.4% during the 3rd quarter. Brookstone Capital Management now owns 7,486 shares of the Internet television network’s stock worth $5,310,000 after acquiring an additional 447 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.
Netflix Stock Performance
The stock has a 50-day simple moving average of $678.35 and a 200-day simple moving average of $648.76. The company has a market capitalization of $311.08 billion, a price-to-earnings ratio of 50.09, a price-to-earnings-growth ratio of 1.44 and a beta of 1.26. 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 (NASDAQ:NFLX – Get Free Report) last issued its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business earned $3.29 EPS. On average, analysts anticipate that Netflix, Inc. will post 19.08 earnings per share for the current year.
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.
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