Analysts Set Netflix, Inc. (NASDAQ:NFLX) Price Target at $1,021.70

Shares of Netflix, Inc. (NASDAQ:NFLX) have been assigned a consensus recommendation of “Moderate Buy” from the thirty-five brokerages that are currently covering the stock, MarketBeat reports. Nine investment analysts have rated the stock with a hold recommendation, twenty-five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $1,021.70.

Several equities research analysts have commented on NFLX shares. Wedbush reiterated an “outperform” rating and issued a $1,150.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and increased their price target for the company from $975.00 to $1,200.00 in a research report on Friday, January 24th. Arete Research raised Netflix to a “hold” rating in a research report on Thursday, January 23rd. Piper Sandler restated an “overweight” rating and issued a $1,100.00 price objective (up previously from $950.00) on shares of Netflix in a research note on Wednesday, January 22nd. Finally, Canaccord Genuity Group upgraded Netflix from a “hold” rating to a “buy” rating and lifted their target price for the stock from $940.00 to $1,150.00 in a research note on Wednesday, January 22nd.

Insider Buying and Selling

In other news, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the sale, the director now directly owns 246 shares of the company’s stock, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $888.08, for a total value of $31,853,653.44. Following the transaction, the chairman now owns 114 shares in the company, valued at $101,241.12. This trade represents a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 255,017 shares of company stock valued at $246,653,898 over the last three months. 1.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Netflix

Hedge funds have recently added to or reduced their stakes in the stock. RPg Family Wealth Advisory LLC bought a new stake in shares of Netflix during the third quarter valued at approximately $25,000. Pathway Financial Advisers LLC grew its stake in shares of Netflix by 82.4% during the 4th quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock valued at $27,000 after purchasing an additional 14 shares during the period. Brown Shipley& Co Ltd bought a new stake in shares of Netflix during the 4th quarter valued at about $27,000. Transce3nd LLC bought a new stake in Netflix during the fourth quarter valued at approximately $32,000. Finally, E Fund Management Hong Kong Co. Ltd. increased its holdings in Netflix by 700.0% during 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 buying an additional 42 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Netflix Price Performance

NFLX stock opened at $980.56 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22. The business has a 50-day simple moving average of $947.72 and a two-hundred day simple moving average of $833.29. The company has a market capitalization of $419.44 billion, a P/E ratio of 49.45, a price-to-earnings-growth ratio of 2.12 and a beta of 1.27. Netflix has a 52-week low of $542.01 and a 52-week high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10.14 billion. During the same quarter in the prior year, the company posted $2.11 earnings per share. Netflix’s revenue was up 16.0% compared to the same quarter last year. Research analysts expect that Netflix will post 24.58 EPS for the current fiscal year.

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.