Netflix (NASDAQ:NFLX) Shares Up 2.3% on Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) shot up 2.3% on Wednesday after Loop Capital upgraded the stock from a hold rating to a buy rating. Loop Capital now has a $1,350.00 price target on the stock, up from their previous price target of $1,150.00. Netflix traded as high as $1,233.93 and last traded at $1,228.50. 3,438,430 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 4,002,787 shares. The stock had previously closed at $1,200.51.

Several other equities research analysts have also recently weighed in on NFLX. KeyCorp increased their target price on shares of Netflix from $1,070.00 to $1,390.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. Bank of America increased their price target on shares of Netflix from $1,175.00 to $1,490.00 and gave the stock a “buy” rating in a research report on Friday, May 30th. Wells Fargo & Company increased their price target on shares of Netflix from $1,500.00 to $1,560.00 and gave the stock an “overweight” rating in a research report on Friday, July 18th. Rosenblatt Securities increased their price target on shares of Netflix from $1,514.00 to $1,515.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Finally, Oppenheimer increased their price target on shares of Netflix from $1,200.00 to $1,425.00 and gave the stock an “outperform” rating in a research report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $1,328.87.

Insiders Place Their Bets

In related news, Director Reed Hastings sold 25,959 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $1,207.71, for a total value of $31,350,943.89. Following the completion of the sale, the director owned 394 shares of the company’s stock, valued at $475,837.74. This trade represents a 98.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 424 shares of the firm’s stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $1,158.67, for a total transaction of $491,276.08. Following the completion of the sale, the insider directly owned 31,610 shares of the company’s stock, valued at approximately $36,625,558.70. This represents a 1.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 89,348 shares of company stock valued at $109,498,489 over the last quarter. Company insiders own 1.37% of the company’s stock.

Hedge Funds Weigh In On Netflix

A number of hedge funds and other institutional investors have recently bought and sold shares of NFLX. Halbert Hargrove Global Advisors LLC boosted its stake in Netflix by 100.0% in the first quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock valued at $25,000 after acquiring an additional 13 shares during the last quarter. Brown Shipley& Co Ltd bought a new position in Netflix in the fourth quarter valued at approximately $27,000. Legacy Investment Solutions LLC bought a new position in shares of Netflix during the second quarter worth $31,000. Stephens Consulting LLC boosted its position in shares of Netflix by 150.0% during the second quarter. Stephens Consulting LLC now owns 25 shares of the Internet television network’s stock worth $33,000 after purchasing an additional 15 shares in the last quarter. Finally, Rossby Financial LCC bought a new position in shares of Netflix during the second quarter worth $35,000. 80.93% of the stock is owned by institutional investors.

Netflix Trading Up 2.3%

The business’s 50-day moving average price is $1,213.71 and its two-hundred day moving average price is $1,136.26. The company has a market capitalization of $522.02 billion, a P/E ratio of 52.34, a PEG ratio of 2.02 and a beta of 1.60. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.34 and a quick ratio of 1.34.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 24.58% and a return on equity of 42.50%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period last year, the firm posted $4.88 earnings per share. Netflix has set its FY 2025 guidance at EPS. Q3 2025 guidance at 6.870-6.870 EPS. As a group, analysts forecast that Netflix, Inc. 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.