Netflix (NASDAQ:NFLX – Get Free Report) was upgraded by equities researchers at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research report issued on Friday, Marketbeat Ratings reports. The firm presently has a $1,200.00 price objective on the Internet television network’s stock, up from their prior price objective of $975.00. Sanford C. Bernstein’s price objective suggests a potential upside of 22.75% from the company’s current price.
A number of other research firms also recently weighed in on NFLX. Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and lifted their price target for the company from $940.00 to $1,150.00 in a research note on Wednesday. Jefferies Financial Group increased their price target on shares of Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Pivotal Research raised their price objective on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Wednesday. Loop Capital upped their target price on shares of Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Piper Sandler reiterated an “overweight” rating and set a $1,100.00 price target (up from $950.00) on shares of Netflix in a research report on Wednesday. Nine analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Netflix has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.
View Our Latest Report on Netflix
Netflix Stock Performance
Netflix (NASDAQ:NFLX – Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.11 earnings per share. On average, sell-side analysts predict that Netflix will post 23.72 earnings per share for the current year.
Insider Transactions at Netflix
In other news, Director Jay C. Hoag sold 617 shares of the stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $979.71, for a total value of $604,481.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Hyman sold 267 shares of Netflix stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total transaction of $204,433.89. Following the transaction, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. The trade was a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,117 shares of company stock worth $123,913,691 in the last three months. 1.76% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in NFLX. Nordea Investment Management AB lifted its position in Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock worth $760,918,000 after acquiring an additional 156,958 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Netflix by 1.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock worth $1,829,494,000 after purchasing an additional 29,726 shares in the last quarter. Natixis Advisors LLC boosted its stake in shares of Netflix by 2.0% in the third quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock valued at $434,398,000 after purchasing an additional 11,921 shares during the period. M&T Bank Corp grew its holdings in Netflix by 4.2% during the 3rd quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after purchasing an additional 1,684 shares in the last quarter. Finally, Kestra Investment Management LLC purchased a new stake in Netflix during the 3rd quarter worth $1,517,000. 80.93% of the stock is owned by hedge funds and other institutional investors.
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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