Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, Piper Sandler Analyst Says

Netflix (NASDAQ:NFLX) had its price target raised by stock analysts at Piper Sandler from $1,400.00 to $1,500.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the Internet television network’s stock. Piper Sandler’s price target points to a potential upside of 24.04% from the company’s current price.

Several other brokerages have also recently issued reports on NFLX. The Goldman Sachs Group lifted their target price on Netflix from $1,000.00 to $1,140.00 and gave the company a “neutral” rating in a research report on Wednesday, July 2nd. Bank of America lifted their price target on Netflix from $1,175.00 to $1,490.00 and gave the stock a “buy” rating in a report on Friday, May 30th. Sanford C. Bernstein lifted their price target on Netflix from $1,200.00 to $1,390.00 and gave the stock an “outperform” rating in a report on Thursday. Benchmark reiterated a “hold” rating on shares of Netflix in a report on Monday, April 21st. Finally, Evercore ISI reiterated an “outperform” rating on shares of Netflix in a report on Thursday, May 15th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,291.41.

Netflix Trading Down 5.1%

Shares of Netflix stock opened at $1,209.24 on Friday. The stock has a market capitalization of $514.62 billion, a PE ratio of 51.52, a price-to-earnings-growth ratio of 2.19 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. Netflix has a 52 week low of $587.04 and a 52 week high of $1,341.15. The stock has a 50 day moving average price of $1,232.59 and a two-hundred day moving average price of $1,061.94.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to analysts’ expectations of $11.04 billion. Netflix had a return on equity of 43.00% and a net margin of 24.58%. Netflix’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.88 earnings per share. As a group, equities analysts anticipate that Netflix will post 24.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 32,515 shares of the company’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the transaction, the director directly owned 79,040 shares in the company, valued at approximately $87,099,708.80. This represents a 29.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bradford L. Smith sold 3,919 shares of the company’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the completion of the transaction, the director owned 7,969 shares of the company’s stock, valued at $8,959,227.94. The trade was a 32.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock valued at $223,307,201 in the last ninety days. Corporate insiders own 1.37% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Norges Bank bought a new position in Netflix during the 4th quarter valued at approximately $5,019,087,000. Nuveen LLC bought a new position in Netflix during the 1st quarter valued at approximately $2,385,585,000. Kingstone Capital Partners Texas LLC raised its position in Netflix by 343,058.2% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 2,463,876 shares of the Internet television network’s stock valued at $3,299,450,000 after purchasing an additional 2,463,158 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Netflix by 57.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,393,064 shares of the Internet television network’s stock valued at $3,164,134,000 after purchasing an additional 1,236,251 shares during the last quarter. 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.