Pivotal Research Raises Netflix (NASDAQ:NFLX) Price Target to $1,250.00

Netflix (NASDAQ:NFLX) had its price objective boosted by Pivotal Research from $1,100.00 to $1,250.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the Internet television network’s stock. Pivotal Research’s price objective would suggest a potential upside of 43.73% from the company’s current price.

Several other brokerages also recently weighed in on NFLX. Canaccord Genuity Group increased their target price on Netflix from $760.00 to $940.00 and gave the company a “hold” rating in a research note on Monday, December 2nd. Guggenheim increased their price objective on Netflix from $825.00 to $950.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Piper Sandler boosted their target price on shares of Netflix from $840.00 to $950.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 14th. Wedbush reissued an “outperform” rating and issued a $950.00 price target (up from $800.00) on shares of Netflix in a report on Monday, November 18th. Finally, Bank of America raised their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $952.30.

Netflix Trading Up 1.3 %

NASDAQ:NFLX opened at $869.68 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $885.64 and its 200-day moving average is $760.81. The firm has a market cap of $371.75 billion, a price-to-earnings ratio of 49.22, a P/E/G ratio of 1.40 and a beta of 1.27. Netflix has a 12 month low of $479.90 and a 12 month high of $941.75.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. During the same quarter last year, the firm posted $2.11 EPS. The business’s quarterly revenue was up 16.0% on a year-over-year basis. Equities analysts anticipate that Netflix will post 19.76 EPS for the current year.

Insider Activity

In related news, Director Richard N. Barton sold 5,698 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the completion of the sale, the director now directly owns 246 shares of the company’s stock, valued at $185,976. The trade was a 95.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Anne M. Sweeney sold 589 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. Insiders have sold 152,198 shares of company stock valued at $127,616,898 over the last 90 days. 1.76% of the stock is owned by company insiders.

Institutional Investors Weigh In On Netflix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFLX. State Street Corp increased its stake in shares of Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC grew its holdings in Netflix by 1.4% during the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after purchasing an additional 123,029 shares during the period. Jennison Associates LLC increased its stake in Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock valued at $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Netflix by 116,620.0% in the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Netflix by 0.5% during the third quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after purchasing an additional 23,702 shares in 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.