Netflix (NASDAQ:NFLX) Price Target Raised to $600.00 at Piper Sandler

Netflix (NASDAQ:NFLX) had its price target raised by Piper Sandler from $550.00 to $600.00 in a research note released on Friday morning, Marketbeat Ratings reports. They currently have a neutral rating on the Internet television network’s stock.

Several other research firms also recently weighed in on NFLX. Robert W. Baird upped their price objective on shares of Netflix from $500.00 to $600.00 and gave the stock an outperform rating in a report on Wednesday, January 24th. Canaccord Genuity Group upped their target price on Netflix from $575.00 to $625.00 and gave the company a buy rating in a report on Wednesday, January 24th. Oppenheimer upped their target price on Netflix from $615.00 to $725.00 and gave the company an outperform rating in a report on Monday, March 11th. UBS Group upped their target price on Netflix from $570.00 to $685.00 and gave the company a buy rating in a report on Tuesday, February 27th. Finally, Loop Capital upped their target price on Netflix from $585.00 to $700.00 and gave the company a buy rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $597.73.

Netflix Stock Performance

Shares of NFLX opened at $607.15 on Friday. Netflix has a 1 year low of $315.62 and a 1 year high of $639.00. The company has a market cap of $262.75 billion, a price-to-earnings ratio of 50.55, a price-to-earnings-growth ratio of 1.69 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a fifty day moving average of $602.41 and a 200-day moving average of $508.76.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.09). The firm had revenue of $8.83 billion for the quarter, compared to analyst estimates of $8.72 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The business’s revenue was up 12.5% compared to the same quarter last year. During the same period last year, the firm posted $0.12 EPS. As a group, equities analysts anticipate that Netflix will post 17.02 earnings per share for the current year.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 47,574 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at $17,003,651.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider David A. Hyman sold 47,574 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the sale, the insider now owns 31,610 shares in the company, valued at $17,003,651.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory K. Peters sold 13,655 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total value of $7,425,589.00. Following the sale, the chief executive officer now owns 13,090 shares in the company, valued at approximately $7,118,342. The disclosure for this sale can be found here. Insiders sold 268,335 shares of company stock worth $151,619,811 over the last three months. 2.45% of the stock is currently owned by corporate insiders.

Institutional Trading of Netflix

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Netflix by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 36,438,570 shares of the Internet television network’s stock valued at $17,741,211,000 after acquiring an additional 178,286 shares during the last quarter. State Street Corp boosted its holdings in Netflix by 0.4% in the first quarter. State Street Corp now owns 16,195,490 shares of the Internet television network’s stock valued at $5,595,196,000 after acquiring an additional 62,507 shares during the last quarter. Capital World Investors boosted its holdings in Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after acquiring an additional 78,320 shares during the last quarter. Morgan Stanley boosted its holdings in Netflix by 11.1% in the fourth quarter. Morgan Stanley now owns 6,463,661 shares of the Internet television network’s stock valued at $1,906,005,000 after acquiring an additional 644,162 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after acquiring an additional 1,573,978 shares during the last quarter. Institutional investors 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.