Netflix, Inc. (NASDAQ:NFLX) Receives $631.15 Consensus Price Target from Brokerages

Netflix, Inc. (NASDAQ:NFLX) has been given a consensus recommendation of “Moderate Buy” by the thirty-five analysts that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and twenty-two have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $631.15.

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group reissued a “hold” rating and issued a $585.00 target price (down previously from $720.00) on shares of Netflix in a report on Friday, April 19th. Piper Sandler upped their price objective on Netflix from $550.00 to $600.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. raised their target price on Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Seaport Res Ptn downgraded shares of Netflix from a “buy” rating to a “neutral” rating in a report on Tuesday, January 30th. Finally, UBS Group increased their price objective on shares of Netflix from $570.00 to $685.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th.

Netflix Stock Performance

NFLX stock opened at $596.97 on Friday. The stock’s 50 day simple moving average is $602.76 and its 200 day simple moving average is $530.17. Netflix has a 12-month low of $322.03 and a 12-month high of $639.00. The firm has a market cap of $257.27 billion, a P/E ratio of 41.43, a P/E/G ratio of 1.40 and a beta of 1.23. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. During the same period in the prior year, the company earned $2.88 earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts predict that Netflix will post 18.3 EPS for the current year.

Insider Transactions at Netflix

In related news, CEO Gregory K. Peters sold 5,352 shares of the company’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 owns 13,090 shares in the company, valued at approximately $8,181,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Gregory K. Peters sold 5,352 shares of Netflix stock in a transaction on Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $8,181,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider David A. Hyman sold 268 shares of the stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $593.62, for a total value of $159,090.16. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $18,764,328.20. The disclosure for this sale can be found here. Insiders have sold a total of 157,141 shares of company stock valued at $90,796,396 over the last ninety days. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several institutional investors have recently made changes to their positions in the stock. Capital World Investors grew its holdings in shares of Netflix by 0.7% during the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after acquiring an additional 78,320 shares in the last quarter. Jennison Associates LLC grew its stake in Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after purchasing an additional 929,193 shares in the last quarter. Norges Bank acquired a new position in Netflix in the 4th quarter worth about $2,558,598,000. Northern Trust Corp raised its stake in shares of Netflix by 2.1% during the 3rd quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock worth $1,749,712,000 after purchasing an additional 96,938 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Netflix by 1.9% during the 4th quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock valued at $2,006,483,000 after buying an additional 78,298 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.