Piper Sandler Increases Netflix (NASDAQ:NFLX) Price Target to $650.00

Netflix (NASDAQ:NFLX) had its price target increased by stock analysts at Piper Sandler from $600.00 to $650.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the Internet television network’s stock. Piper Sandler’s target price suggests a potential upside of 2.63% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Loop Capital raised their price objective on shares of Netflix from $700.00 to $750.00 and gave the stock a “buy” rating in a research note on Tuesday, June 18th. Wedbush reaffirmed an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research note on Monday, May 20th. Sanford C. Bernstein raised their price objective on shares of Netflix from $600.00 to $625.00 and gave the stock a “market perform” rating in a research note on Friday. Oppenheimer reaffirmed an “outperform” rating and set a $725.00 price objective on shares of Netflix in a research note on Friday, April 19th. Finally, Canaccord Genuity Group lowered Netflix from a “buy” rating to a “hold” rating and decreased their target price for the company from $720.00 to $585.00 in a research report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $680.76.

Netflix Price Performance

Shares of NASDAQ:NFLX opened at $633.34 on Friday. Netflix has a twelve month low of $344.73 and a twelve month high of $697.49. The company’s 50 day moving average is $655.73 and its 200 day moving average is $603.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a market cap of $272.97 billion, a PE ratio of 43.95, a price-to-earnings-growth ratio of 1.39 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 33.22%. The business’s revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the company earned $3.29 EPS. On average, sell-side analysts forecast that Netflix will post 18.35 EPS for the current year.

Insider Transactions at Netflix

In other news, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction on Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the transaction, the chairman now owns 57 shares in the company, valued at approximately $38,217.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Reed Hastings sold 22,526 shares of Netflix stock in a transaction on Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the transaction, the chairman now owns 57 shares in the company, valued at approximately $38,217.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $560.00, for a total value of $354,480.00. The disclosure for this sale can be found here. Insiders have sold a total of 71,385 shares of company stock worth $44,469,351 in the last quarter. Company insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after purchasing an additional 149,341 shares during the last quarter. Capital World Investors increased its position in shares of Netflix by 0.7% during the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after purchasing an additional 78,320 shares during the last quarter. Jennison Associates LLC increased its position in shares of Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after purchasing an additional 929,193 shares during the last quarter. Norges Bank acquired a new position in Netflix in the 4th quarter valued at about $2,558,598,000. Finally, Fisher Asset Management LLC grew its position in Netflix by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock valued at $2,006,483,000 after acquiring an additional 78,298 shares in the last quarter. 80.93% of the stock is owned by institutional investors and hedge funds.

Netflix Company Profile

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.