JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX) had its target price raised by research analysts at JPMorgan Chase & Co. from $850.00 to $1,010.00 in a note issued to investors on Wednesday, MarketBeat.com reports. The brokerage presently has an “overweight” rating on the Internet television network’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 9.12% from the company’s current price.

Several other research analysts also recently weighed in on the stock. TD Cowen increased their price target on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Bank of America increased their price target on shares of Netflix from $800.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Piper Sandler restated an “overweight” rating and set a $840.00 price objective (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. Benchmark restated a “sell” rating and set a $545.00 price objective on shares of Netflix in a research report on Tuesday, October 15th. Finally, StockNews.com upgraded shares of Netflix from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $787.85.

Netflix Stock Down 1.2 %

Shares of Netflix stock opened at $925.55 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. Netflix has a twelve month low of $461.86 and a twelve month high of $941.75. The company has a market cap of $395.63 billion, a price-to-earnings ratio of 52.53, a price-to-earnings-growth ratio of 1.80 and a beta of 1.27. The company’s 50 day moving average is $805.66 and its 200 day moving average is $716.00.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The business had revenue of $9.82 billion for the quarter, compared to the consensus estimate of $9.77 billion. Research analysts anticipate that Netflix will post 19.78 EPS for the current year.

Insider Buying and Selling

In related news, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 165,405 shares of company stock valued at $129,623,487. Company insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Large investors have recently made changes to their positions in the company. Denver PWM LLC bought a new stake in Netflix during the 2nd quarter valued at about $25,000. RPg Family Wealth Advisory LLC bought a new stake in Netflix during the 3rd quarter valued at about $25,000. Proffitt & Goodson Inc. lifted its holdings in Netflix by 380.0% during 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. E Fund Management Hong Kong Co. Ltd. lifted its holdings in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares in the last quarter. Finally, AlphaMark Advisors LLC lifted its holdings in Netflix by 642.9% during 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. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.