Netflix (NASDAQ:NFLX – Get Free Report) had its target price increased by equities researchers at Piper Sandler from $840.00 to $950.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the Internet television network’s stock. Piper Sandler’s price target would indicate a potential upside of 11.99% from the company’s previous close.
A number of other analysts have also recently commented on the company. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. Jefferies Financial Group upped their price objective on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. dropped their target price on shares of Netflix from $1,010.00 to $1,000.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Evercore ISI upped their price target on shares of Netflix from $775.00 to $950.00 and gave the stock an “outperform” rating in a research report on Monday, December 2nd. Finally, Needham & Company LLC lifted their price objective on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, Netflix has a consensus rating of “Moderate Buy” and an average target price of $845.82.
Read Our Latest Research Report on NFLX
Netflix Stock Up 2.4 %
Netflix (NASDAQ:NFLX – Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, research analysts expect that Netflix will post 19.78 earnings per share for the current year.
Insider Activity at Netflix
In related news, CEO Gregory K. Peters sold 4,186 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $750.00, for a total transaction of $3,139,500.00. Following the completion of the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $9,817,500. This trade represents a 24.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider David A. Hyman sold 267 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 156,742 shares of company stock worth $131,030,268. Company 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 company. RPg Family Wealth Advisory LLC purchased a new position in Netflix during the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. boosted its stake in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after purchasing an additional 42 shares during the period. MidAtlantic Capital Management Inc. acquired a new position in shares of Netflix in the third quarter valued at approximately $37,000. FSA Wealth Management LLC purchased a new stake in Netflix during the 3rd quarter worth approximately $38,000. Finally, First Personal Financial Services acquired a new stake in Netflix during the 3rd quarter worth approximately $40,000. 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.
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