Netflix (NASDAQ:NFLX) Price Target Raised to $1,500.00

by · The Cerbat Gem

Netflix (NASDAQ:NFLX – Get Free Report) had its price target hoisted by analysts at Morgan Stanley from $1,450.00 to $1,500.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the Internet television network’s stock. Morgan Stanley’s target price would suggest a potential upside of 22.12% from the stock’s current price.

Several other research analysts have also recently issued reports on NFLX. Macquarie increased their price objective on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an “outperform” rating in a report on Monday, April 21st. Pivotal Research reiterated a “buy” rating on shares of Netflix in a report on Thursday, July 10th. Seaport Res Ptn cut shares of Netflix from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 6th. FBN Securities started coverage on shares of Netflix in a report on Thursday, March 27th. They issued an “outperform” rating and a $1,165.00 price objective for the company. Finally, Piper Sandler increased their price objective on shares of Netflix from $1,400.00 to $1,500.00 and gave the company an “overweight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $1,263.94.

Check Out Our Latest Stock Report on Netflix

Netflix Stock Down 3.6%

Shares of NASDAQ NFLX opened at $1,228.27 on Friday. Netflix has a 52-week low of $587.04 and a 52-week high of $1,341.15. The firm has a fifty day moving average of $1,231.20 and a 200-day moving average of $1,058.57. The stock has a market capitalization of $522.72 billion, a PE ratio of 58.70, a P/E/G ratio of 2.26 and a beta of 1.59. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX – Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.07 by $0.12. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The company had revenue of $11.08 billion during the quarter, compared to analysts’ expectations of $11.04 billion. During the same period in the previous year, the company earned $4.88 EPS. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. On average, analysts anticipate that Netflix will post 24.58 EPS for the current year.

Insider Activity

In related news, Director Jay C. Hoag sold 32,515 shares of Netflix stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the transaction, the director directly owned 79,040 shares of the company’s stock, valued at $87,099,708.80. This trade represents a 29.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Bradford L. Smith sold 3,919 shares of Netflix stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total transaction of $4,405,974.94. Following the sale, the director owned 7,969 shares of the company’s stock, valued at approximately $8,959,227.94. This represents a 32.97% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 186,723 shares of company stock valued at $223,307,201. Company insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in NFLX. Janus Henderson Group PLC lifted its position in shares of Netflix by 8.7% in the fourth quarter. Janus Henderson Group PLC now owns 1,377,081 shares of the Internet television network’s stock worth $1,227,468,000 after purchasing an additional 110,432 shares in the last quarter. PharVision Advisers LLC bought a new stake in Netflix during the fourth quarter worth $873,000. New England Research & Management Inc. raised its position in Netflix by 148.5% during the first quarter. New England Research & Management Inc. now owns 2,122 shares of the Internet television network’s stock worth $1,979,000 after acquiring an additional 1,268 shares in the last quarter. Xcel Wealth Management LLC raised its position in Netflix by 15.2% during the first quarter. Xcel Wealth Management LLC now owns 492 shares of the Internet television network’s stock worth $459,000 after acquiring an additional 65 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Netflix by 6.1% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 54,638 shares of the Internet television network’s stock worth $50,952,000 after acquiring an additional 3,137 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

Netflix Company Profile

(Get Free Report)

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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