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

Netflix (NASDAQ:NFLX) had its price objective raised by stock analysts at Pivotal Research from $1,100.00 to $1,250.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the Internet television network’s stock. Pivotal Research’s price target suggests a potential upside of 43.73% from the stock’s previous close.

Other research analysts also recently issued reports about the company. Wells Fargo & Company increased their price objective on Netflix from $758.00 to $797.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Morgan Stanley lifted their price objective on shares of Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday. Wolfe Research restated an “outperform” rating on shares of Netflix in a report on Friday, October 18th. Loop Capital lowered their price target on shares of Netflix from $950.00 to $925.00 and set a “hold” rating on the stock in a research note on Thursday, January 16th. Finally, Piper Sandler increased their price objective on shares of Netflix from $840.00 to $950.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $952.30.

Netflix Stock Performance

Shares of NFLX stock opened at $869.68 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix has a 52 week low of $479.90 and a 52 week high of $941.75. The company’s 50 day moving average price is $885.64 and its two-hundred day moving average price is $760.81. The company has a market capitalization of $371.75 billion, a P/E ratio of 49.22, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.11 EPS. On average, analysts expect that Netflix will post 19.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Richard N. Barton sold 5,698 shares of the company’s stock in a transaction on Friday, October 25th. The stock was 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 in the company, valued at approximately $185,976. This represents a 95.86 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy M. Haley sold 11,090 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. Insiders have sold a total of 152,198 shares of company stock worth $127,616,898 in the last quarter. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Several large investors have recently made changes to their positions in the company. Epoch Investment Partners Inc. boosted its holdings 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 purchasing an additional 116 shares in the last quarter. Mill Creek Capital Advisors LLC lifted its position in shares of Netflix by 24.8% during the 2nd quarter. Mill Creek Capital Advisors LLC now owns 433 shares of the Internet television network’s stock worth $292,000 after buying an additional 86 shares during the last quarter. Clear Point Advisors Inc. boosted its stake in Netflix by 3.9% in the second quarter. Clear Point Advisors Inc. now owns 449 shares of the Internet television network’s stock valued at $303,000 after buying an additional 17 shares in the last quarter. Insigneo Advisory Services LLC grew its position in Netflix by 10.6% in the second quarter. Insigneo Advisory Services LLC now owns 8,230 shares of the Internet television network’s stock valued at $5,554,000 after acquiring an additional 786 shares during the last quarter. Finally, Fred Alger Management LLC raised its stake in Netflix by 4.7% during the second quarter. Fred Alger Management LLC now owns 465,249 shares of the Internet television network’s stock worth $313,987,000 after acquiring an additional 20,962 shares in the last quarter. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.