Netflix’s (NFLX) Overweight Rating Reaffirmed at Piper Sandler

Netflix (NASDAQ:NFLX)‘s stock had its “overweight” rating reiterated by Piper Sandler in a research note 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 target price suggests a potential upside of 9.96% from the stock’s current price.

Other equities analysts have also recently issued research reports about the stock. Redburn Atlantic lifted their price objective on shares of Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Benchmark reaffirmed a “sell” rating and issued a $545.00 price objective on shares of Netflix in a research note on Tuesday, October 15th. JPMorgan Chase & Co. lifted their price objective on shares of Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday. Pivotal Research lifted their price objective on shares of Netflix from $900.00 to $925.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Sanford C. Bernstein lifted their price objective on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note on Friday. Two equities research 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. According to data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average target price of $747.70.

Netflix Stock Up 11.1 %

NFLX stock opened at $763.89 on Friday. Netflix has a 52 week low of $392.26 and a 52 week high of $766.28. The company has a market capitalization of $329.24 billion, a price-to-earnings ratio of 53.01, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. The firm’s 50-day moving average is $696.38 and its two-hundred day moving average is $654.94. 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) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the previous year, the firm earned $3.29 EPS. Netflix’s revenue was up 16.8% on a year-over-year basis. On average, analysts forecast that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Director Leslie J. Kilgore sold 383 shares of the business’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 sale, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Netflix news, Director Leslie J. Kilgore sold 383 shares of the business’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 sale, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was 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 in the company, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,167 shares of company stock worth $150,492,460 in the last ninety days. 1.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Netflix

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position 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 buying an additional 149,341 shares in the last quarter. Jennison Associates LLC lifted its position in Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after buying an additional 929,193 shares in the last quarter. Baillie Gifford & Co. lifted its position in Netflix by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after buying an additional 106,756 shares in the last quarter. Legal & General Group Plc lifted its position in Netflix by 3.1% during the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after buying an additional 104,332 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Netflix by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock worth $2,214,488,000 after buying an additional 83,762 shares in the last quarter. 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.