Netflix (NASDAQ:NFLX) Given New $950.00 Price Target at Piper Sandler

Netflix (NASDAQ:NFLX) had its price objective increased by analysts at Piper Sandler from $840.00 to $950.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the Internet television network’s stock. Piper Sandler’s target price indicates a potential upside of 14.23% from the company’s previous close.

A number of other brokerages have also recently issued reports on NFLX. KeyCorp boosted their price objective on Netflix from $760.00 to $785.00 and gave the company an “overweight” rating in a research note on Friday, October 18th. Barclays raised their price objective on shares of Netflix from $550.00 to $715.00 and gave the stock an “underweight” rating in a report on Tuesday. Citigroup raised their price target on Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Loop Capital lowered shares of Netflix from a “buy” rating to a “hold” rating and raised their price objective for the company from $800.00 to $950.00 in a research report on Monday, December 16th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $841.27.

Netflix Stock Performance

Shares of NFLX stock traded down $8.65 during trading on Tuesday, hitting $831.64. The company’s stock had a trading volume of 896,402 shares, compared to its average volume of 2,800,454. The business has a fifty day moving average of $879.75 and a 200-day moving average of $754.88. The company has a market cap of $355.49 billion, a PE ratio of 47.07, a P/E/G ratio of 1.77 and a beta of 1.27. Netflix has a 52 week low of $475.26 and a 52 week high of $941.75. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

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

Insider Transactions at Netflix

In other Netflix news, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares of the company’s stock, valued at approximately $216,327.48. This trade represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Reed Hastings sold 48,363 shares of the company’s 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 completion of the transaction, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 156,742 shares of company stock worth $131,030,268. Company insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Several large investors have recently bought and sold shares of NFLX. RPg Family Wealth Advisory LLC bought a new stake in Netflix in the 3rd quarter worth approximately $25,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in shares of Netflix by 700.0% in the third quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Netflix during the 3rd quarter valued at $37,000. FSA Wealth Management LLC bought a new stake in Netflix during the third quarter valued at about $38,000. Finally, First Personal Financial Services purchased a new stake in Netflix in the third quarter worth about $40,000. 80.93% of the stock is currently owned by 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.