Analysts Set Netflix, Inc. (NASDAQ:NFLX) Price Target at $1,016.78

Shares of Netflix, Inc. (NASDAQ:NFLX) have earned an average recommendation of “Moderate Buy” from the thirty-seven brokerages that are covering the stock, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold recommendation, twenty-seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $1,021.02.

Several equities analysts have weighed in on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Bank of America lifted their target price on shares of Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft increased their price target on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research note on Wednesday, January 22nd. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $680.00 to $1,494.00 in a research report on Wednesday, January 22nd. Finally, Loop Capital increased their target price on Netflix from $925.00 to $1,000.00 and gave the stock a “hold” rating in a research report on Wednesday, January 22nd.

Insider Buying and Selling 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 transaction, the director now directly owns 246 shares in the company, valued at $216,327.48. This trade represents a 96.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Jeffrey William Karbowski sold 480 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $986.75, for a total value of $473,640.00. The disclosure for this sale can be found here. Insiders have sold 288,583 shares of company stock valued at $279,611,567 in the last quarter. 1.76% of the stock is owned by insiders.

Institutional Trading of Netflix

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Netflix by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 37,488,005 shares of the Internet television network’s stock worth $33,413,809,000 after purchasing an additional 171,712 shares during the period. FMR LLC increased its holdings in shares of Netflix by 1.8% in the 4th quarter. FMR LLC now owns 20,887,090 shares of the Internet television network’s stock valued at $18,617,081,000 after acquiring an additional 375,234 shares during the period. State Street Corp lifted its stake in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Geode Capital Management LLC grew its stake in Netflix by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 9,323,952 shares of the Internet television network’s stock valued at $8,287,823,000 after purchasing an additional 175,596 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Netflix during the fourth quarter valued at about $5,019,087,000. 80.93% of the stock is currently owned by institutional investors.

Netflix Trading Up 0.6 %

NASDAQ:NFLX opened at $976.72 on Tuesday. Netflix has a one year low of $542.01 and a one year high of $1,064.50. The business has a fifty day moving average price of $970.22 and a 200-day moving average price of $864.96. The firm has a market capitalization of $417.80 billion, a price-to-earnings ratio of 49.25, a price-to-earnings-growth ratio of 2.12 and a beta of 1.38. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10.14 billion. During the same quarter in the prior year, the business posted $2.11 earnings per share. The business’s quarterly revenue was up 16.0% on a year-over-year basis. Sell-side analysts forecast that Netflix will post 24.58 EPS for the current year.

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.