Netflix, Inc. (NASDAQ:NFLX) Receives $824.30 Average Price Target from Brokerages

Netflix, Inc. (NASDAQ:NFLX) has earned an average rating of “Moderate Buy” from the thirty-five research firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and twenty-three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $824.00.

NFLX has been the topic of a number of recent research reports. Sanford C. Bernstein raised their price target on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Benchmark lifted their target price on Netflix from $555.00 to $720.00 and gave the company a “sell” rating in a research note on Friday, January 3rd. Piper Sandler reiterated an “overweight” rating and set a $840.00 price target (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Wells Fargo & Company raised their price target on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Finally, Morgan Stanley upped their price objective on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th.

Netflix Stock Down 4.3 %

Shares of Netflix stock opened at $837.69 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The business has a 50-day moving average price of $878.06 and a 200 day moving average price of $753.25. Netflix has a fifty-two week low of $475.26 and a fifty-two week high of $941.75. The firm has a market cap of $358.08 billion, a P/E ratio of 47.41, a P/E/G ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. On average, sell-side analysts forecast that Netflix will post 19.78 earnings per share for the current fiscal year.

Insider Activity

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total value of $5,596,374.32. Following the sale, the director now directly owns 246 shares of the company’s stock, valued at $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 156,742 shares of company stock worth $131,030,268 over the last quarter. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Hedge funds have recently bought and sold shares of the business. Graypoint LLC raised its position in shares of Netflix by 1.0% in the fourth quarter. Graypoint LLC now owns 4,325 shares of the Internet television network’s stock valued at $3,855,000 after purchasing an additional 42 shares during the period. RMR Wealth Builders grew its stake in Netflix by 4.8% in the 4th quarter. RMR Wealth Builders now owns 4,863 shares of the Internet television network’s stock valued at $4,335,000 after buying an additional 221 shares during the last quarter. HBW Advisory Services LLC raised its holdings in Netflix by 13.3% in the 4th quarter. HBW Advisory Services LLC now owns 4,114 shares of the Internet television network’s stock worth $3,667,000 after acquiring an additional 482 shares during the period. Highline Wealth Partners LLC lifted its position in Netflix by 2.5% during the 4th quarter. Highline Wealth Partners LLC now owns 710 shares of the Internet television network’s stock worth $633,000 after acquiring an additional 17 shares during the last quarter. Finally, ORG Wealth Partners LLC boosted its holdings in Netflix by 5.8% during the fourth quarter. ORG Wealth Partners LLC now owns 760 shares of the Internet television network’s stock valued at $677,000 after acquiring an additional 42 shares during the period. 80.93% of the stock is 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.