Guggenheim Increases Netflix (NASDAQ:NFLX) Price Target to $810.00

Netflix (NASDAQ:NFLX) had its price target boosted by analysts at Guggenheim from $735.00 to $810.00 in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The brokerage presently has a “buy” rating on the Internet television network’s stock. Guggenheim’s target price indicates a potential upside of 12.07% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Bank of America upped their target price on shares of Netflix from $700.00 to $740.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Citigroup upped their target price on shares of Netflix from $660.00 to $675.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Piper Sandler upgraded shares of Netflix from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $650.00 to $800.00 in a research report on Monday, October 7th. Morgan Stanley upped their target price on shares of Netflix from $780.00 to $820.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, UBS Group upped their target price on shares of Netflix from $685.00 to $750.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $702.79.

Netflix Stock Performance

NFLX opened at $722.79 on Friday. The firm has a market cap of $311.52 billion, a P/E ratio of 50.16, a PEG ratio of 1.49 and a beta of 1.26. Netflix has a 1-year low of $344.73 and a 1-year high of $736.00. The company has a 50 day simple moving average of $686.60 and a two-hundred day simple moving average of $651.33. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The business had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company’s revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the business posted $3.29 earnings per share. Equities analysts forecast that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the transaction, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Netflix news, insider David A. Hyman sold 20,656 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the transaction, the director now owns 35,262 shares in the company, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 225,167 shares of company stock valued at $150,492,460 in the last 90 days. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Denver PWM LLC bought a new position in Netflix during the 2nd quarter worth about $25,000. Valued Wealth Advisors LLC boosted its holdings in shares of Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after buying an additional 20 shares in the last quarter. Proffitt & Goodson Inc. boosted its holdings in shares of Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares in the last quarter. AlphaMark Advisors LLC boosted its holdings in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares in the last quarter. Finally, Indiana Trust & Investment Management CO boosted its holdings in shares of Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after buying an additional 28 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

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.