Netflix (NASDAQ:NFLX) PT Raised to $700.00

Netflix (NASDAQ:NFLX) had its target price hoisted by analysts at Morgan Stanley from $600.00 to $700.00 in a research note issued to investors on Friday, MarketBeat.com reports. The brokerage currently has an “overweight” rating on the Internet television network’s stock. Morgan Stanley’s target price would indicate a potential upside of 12.39% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Piper Sandler upped their price target on Netflix from $475.00 to $550.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Citigroup increased their target price on Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a report on Monday, March 25th. Canaccord Genuity Group increased their target price on Netflix from $575.00 to $625.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Sanford C. Bernstein increased their target price on Netflix from $390.00 to $490.00 and gave the company a “market perform” rating in a report on Wednesday, January 24th. Finally, Oppenheimer increased their target price on Netflix from $615.00 to $725.00 and gave the company an “outperform” rating in a report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $596.97.

Netflix Trading Down 0.9 %

Shares of NASDAQ:NFLX opened at $622.83 on Friday. The company has a market cap of $269.54 billion, a P/E ratio of 51.86, a PEG ratio of 1.70 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. Netflix has a 1 year low of $315.62 and a 1 year high of $639.00. The stock’s fifty day moving average price is $601.51 and its 200-day moving average price is $506.22.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The business had revenue of $8.83 billion for the quarter, compared to the consensus estimate of $8.72 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.12 earnings per share. Sell-side analysts expect that Netflix will post 17.02 earnings per share for the current year.

Insider Activity at Netflix

In related news, insider David A. Hyman sold 47,574 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,003,651.20. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory K. Peters sold 5,352 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $625.00, for a total value of $3,345,000.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $8,181,250. The disclosure for this sale can be found here. Over the last three months, insiders sold 268,335 shares of company stock valued at $151,619,811. Insiders own 2.45% of the company’s stock.

Institutional Investors Weigh In On Netflix

Institutional investors have recently modified their holdings of the stock. Fairfield Bush & CO. lifted its stake in shares of Netflix by 26.5% during the 1st quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock worth $916,000 after acquiring an additional 512 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Netflix by 21.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock worth $179,820,000 after acquiring an additional 84,179 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Netflix by 14.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock worth $1,094,000 after acquiring an additional 363 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its stake in shares of Netflix by 6.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock worth $13,610,000 after acquiring an additional 2,358 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of Netflix by 13.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock worth $1,426,000 after acquiring an additional 441 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

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.