Netflix (NASDAQ:NFLX) PT Raised to $775.00

Netflix (NASDAQ:NFLX) had its price objective upped by Wedbush from $725.00 to $775.00 in a report published on Thursday morning, Marketbeat.com reports. The brokerage currently has an overweight rating on the Internet television network’s stock. Wedbush also issued estimates for Netflix’s Q3 2024 earnings at $5.16 EPS, Q3 2025 earnings at $6.07 EPS, Q1 2026 earnings at $6.84 EPS and Q3 2026 earnings at $7.13 EPS.

Other analysts also recently issued reports about the company. The Goldman Sachs Group boosted their target price on Netflix from $650.00 to $659.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. TD Cowen boosted their price objective on shares of Netflix from $775.00 to $820.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Piper Sandler upgraded shares of Netflix from a “neutral” rating to an “overweight” rating and raised their target price for the company from $650.00 to $800.00 in a report on Monday, October 7th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $750.00 price target on shares of Netflix in a report on Tuesday, October 8th. Finally, Redburn Atlantic raised 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. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $747.70.

Netflix Stock Up 11.1 %

NFLX stock opened at $763.89 on Thursday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The company’s 50-day moving average price is $696.38 and its 200 day moving average price is $655.12. Netflix has a 52 week low of $392.26 and a 52 week high of $766.28. The company has a market cap 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.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate 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 quarter in the previous year, the company earned $3.29 EPS. The company’s quarterly revenue was up 16.8% on a year-over-year basis. On average, research analysts expect that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Activity

In related news, insider David A. Hyman sold 20,656 shares of the stock in a transaction that occurred 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 owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Leslie J. Kilgore sold 383 shares of Netflix 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 transaction, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David A. Hyman sold 20,656 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This represents 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 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several institutional investors and hedge funds have recently modified their holdings of the stock. Denver PWM LLC acquired a new position in Netflix during the 2nd quarter worth approximately $25,000. Valued Wealth Advisors LLC lifted its position in shares of Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after purchasing an additional 20 shares in the last quarter. Proffitt & Goodson Inc. lifted its position in shares of Netflix by 380.0% during the second quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares in the last quarter. AlphaMark Advisors LLC boosted its stake in shares of Netflix by 642.9% in the second quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after purchasing an additional 45 shares during the period. Finally, Indiana Trust & Investment Management CO grew its holdings in Netflix by 112.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 28 shares in the last quarter. Hedge funds and other institutional investors 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.