Netflix (NASDAQ:NFLX) Price Target Increased to $800.00 by Analysts at Pivotal Research

Netflix (NASDAQ:NFLX) had its target price raised by Pivotal Research from $765.00 to $800.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage presently has a “buy” rating on the Internet television network’s stock. Pivotal Research’s target price would indicate a potential upside of 31.03% from the company’s current price.

Other equities research analysts have also recently issued research reports about the stock. Seaport Res Ptn cut shares of Netflix from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 30th. Oppenheimer boosted their price target on shares of Netflix from $615.00 to $725.00 and gave the stock an “outperform” rating in a research report on Monday, March 11th. Piper Sandler boosted their price objective on shares of Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research report on Friday, April 12th. TD Cowen boosted their price objective on shares of Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Robert W. Baird boosted their price objective on shares of Netflix from $500.00 to $600.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, Netflix has an average rating of “Moderate Buy” and an average price target of $628.76.

Netflix Price Performance

NFLX stock opened at $610.56 on Friday. Netflix has a one year low of $315.62 and a one year high of $639.00. The company’s fifty day moving average price is $605.77 and its 200-day moving average price is $511.86. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market capitalization of $264.23 billion, a PE ratio of 50.84, a price-to-earnings-growth ratio of 1.65 and a beta of 1.22.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the previous year, the firm earned $2.88 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. On average, equities analysts anticipate that Netflix will post 17.05 EPS for the current fiscal year.

Insider Activity

In other news, insider David A. Hyman sold 47,574 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the transaction, the insider now owns 31,610 shares in the company, valued at $17,003,651.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider David A. Hyman sold 47,574 shares of the company’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the transaction, the insider now owns 31,610 shares in the company, valued at $17,003,651.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ann Mather sold 3,673 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $2,203,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 268,335 shares of company stock worth $151,619,811 over the last 90 days. 2.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently bought and sold shares of NFLX. Authentikos Wealth Advisory LLC acquired a new position in Netflix in the 3rd quarter worth approximately $25,000. Spartan Planning & Wealth Management purchased a new position in shares of Netflix during the 3rd quarter valued at approximately $26,000. Carmel Capital Partners LLC increased its holdings in shares of Netflix by 290.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 58 shares in the last quarter. VitalStone Financial LLC increased its holdings in shares of Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after purchasing an additional 56 shares in the last quarter. Finally, Beaird Harris Wealth Management LLC increased its holdings in shares of Netflix by 1,550.0% during the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after purchasing an additional 62 shares in the last quarter. Institutional investors and hedge funds 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.