Netflix (NASDAQ:NFLX) Trading Up 1.6% Following Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX) shares rose 1.6% on Thursday after Wolfe Research upgraded the stock from a peer perform rating to an outperform rating. Wolfe Research now has a $1,100.00 price target on the stock. Netflix traded as high as $984.42 and last traded at $969.71. Approximately 3,061,421 shares were traded during trading, a decline of 31% from the average daily volume of 4,418,527 shares. The stock had previously closed at $953.99.

Several other analysts have also recently issued reports on NFLX. Piper Sandler reiterated an “overweight” rating and set a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a research report on Wednesday. Needham & Company LLC lifted their price objective on shares of Netflix from $800.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday. Rosenblatt Securities upgraded shares of Netflix from a “neutral” rating to a “buy” rating and lifted their price target for the company from $680.00 to $1,494.00 in a report on Wednesday. Macquarie lifted their target price on Netflix from $965.00 to $1,150.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Morgan Stanley lifted their price objective on Netflix from $1,050.00 to $1,150.00 and gave the stock an “overweight” rating in a research note on Wednesday. Nine analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and an average target price of $996.94.

Insider Activity at Netflix

In other news, insider David A. Hyman sold 267 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the sale, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. The trade was a 0.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 5,698 shares of the business’s stock in a transaction that occurred 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 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 disclosure for this sale can be found here. Insiders have sold a total of 152,198 shares of company stock valued at $127,616,898 over the last quarter. 1.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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

Netflix Stock Performance

The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average of $889.11 and a two-hundred day moving average of $763.41. The company has a market capitalization of $415.16 billion, a PE ratio of 48.97, a PEG ratio of 1.41 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The business’s revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business posted $2.11 EPS. Research analysts anticipate that Netflix, Inc. will post 23.43 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.