Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, Pivotal Research Analyst Says

Netflix (NASDAQ:NFLX) had its target price boosted by Pivotal Research from $1,100.00 to $1,250.00 in a report published on Wednesday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the Internet television network’s stock.

Other analysts have also recently issued reports about the company. Benchmark lifted their price target on Netflix from $555.00 to $720.00 and gave the stock a “sell” rating in a report on Friday, January 3rd. Wedbush reissued an “outperform” rating and set a $950.00 price target (up from $800.00) on shares of Netflix in a report on Monday, November 18th. Piper Sandler lifted their price target on Netflix from $840.00 to $950.00 and gave the stock an “overweight” rating in a report on Tuesday, January 14th. Robert W. Baird lifted their price target on Netflix from $875.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Sanford C. Bernstein lifted their price target on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,009.29.

Netflix Price Performance

Shares of NFLX opened at $977.59 on Wednesday. The firm has a market capitalization of $417.88 billion, a PE ratio of 49.30, a PEG ratio of 1.53 and a beta of 1.27. The company’s 50-day moving average is $892.06 and its 200-day moving average is $764.95. Netflix has a fifty-two week low of $542.01 and a fifty-two week high of $999.00. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the firm earned $2.11 earnings per share. Equities analysts forecast that Netflix will post 23.72 EPS for the current year.

Insider Buying and Selling

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the completion of the sale, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,117 shares of company stock worth $123,913,691 in the last 90 days. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of institutional investors have recently made changes to their positions in NFLX. Epoch Investment Partners Inc. grew its position in shares of Netflix by 27.1% in the 2nd quarter. Epoch Investment Partners Inc. now owns 544 shares of the Internet television network’s stock valued at $367,000 after buying an additional 116 shares during the last quarter. Mill Creek Capital Advisors LLC lifted its stake in shares of Netflix by 24.8% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 433 shares of the Internet television network’s stock valued at $292,000 after purchasing an additional 86 shares during the period. Clear Point Advisors Inc. lifted its stake in shares of Netflix by 3.9% in the 2nd quarter. Clear Point Advisors Inc. now owns 449 shares of the Internet television network’s stock valued at $303,000 after purchasing an additional 17 shares during the period. Insigneo Advisory Services LLC lifted its stake in shares of Netflix by 10.6% in the 2nd quarter. Insigneo Advisory Services LLC now owns 8,230 shares of the Internet television network’s stock valued at $5,554,000 after purchasing an additional 786 shares during the period. Finally, Fred Alger Management LLC lifted its stake in shares of Netflix by 4.7% in the 2nd quarter. Fred Alger Management LLC now owns 465,249 shares of the Internet television network’s stock valued at $313,987,000 after purchasing an additional 20,962 shares during the period. 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.