Netflix (NASDAQ:NFLX) Price Target Increased to $785.00 by Analysts at KeyCorp

Netflix (NASDAQ:NFLX) had its target price boosted by analysts at KeyCorp from $760.00 to $785.00 in a note issued to investors on Friday, MarketBeat reports. The brokerage currently has an “overweight” rating on the Internet television network’s stock. KeyCorp’s price target indicates a potential upside of 2.76% from the stock’s current price.

Several other equities research analysts have also commented on the company. The Goldman Sachs Group upped their price objective on Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Redburn Atlantic raised their price objective on Netflix from $740.00 to $760.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Argus lifted their target price on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Piper Sandler raised Netflix from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $650.00 to $800.00 in a research report on Monday, October 7th. Finally, Guggenheim boosted their target price on Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Two 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $747.70.

Netflix Stock Up 11.1 %

NASDAQ:NFLX opened at $763.89 on Friday. The stock has a market capitalization of $329.24 billion, a P/E ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The company’s 50-day simple moving average is $696.38 and its 200-day simple moving average is $654.94. Netflix has a fifty-two week low of $392.26 and a fifty-two week high of $766.28.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data 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. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion for the quarter, compared to analyst estimates of $9.53 billion. During the same period in the prior year, the company earned $3.29 earnings per share. The company’s revenue was up 16.8% on a year-over-year basis. On average, equities analysts anticipate that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Gregory K. Peters sold 1,278 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $614.44, for a total value of $785,254.32. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,043,019.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total transaction of $785,254.32. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $8,043,019.60. 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 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 Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. RFG Advisory LLC lifted its position in shares of Netflix by 24.7% in the 1st quarter. RFG Advisory LLC now owns 2,292 shares of the Internet television network’s stock worth $1,392,000 after buying an additional 454 shares during the last quarter. Meyer Handelman Co. increased its position in Netflix by 0.8% during the first quarter. Meyer Handelman Co. now owns 3,358 shares of the Internet television network’s stock worth $2,039,000 after acquiring an additional 25 shares during the period. Congress Asset Management Co. MA boosted its stake in Netflix by 6.6% during the first quarter. Congress Asset Management Co. MA now owns 18,885 shares of the Internet television network’s stock worth $11,469,000 after buying an additional 1,174 shares in the last quarter. MJP Associates Inc. ADV acquired a new stake in shares of Netflix in the 1st quarter valued at $360,000. Finally, &PARTNERS lifted its position in Netflix by 158.2% during the 1st quarter. &PARTNERS now owns 1,379 shares of the Internet television network’s stock worth $838,000 after buying an additional 845 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

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.