Rosenblatt Securities Issues Positive Forecast for Netflix (NASDAQ:NFLX) Stock Price

Netflix (NASDAQ:NFLX) had its price objective boosted by Rosenblatt Securities from $1,514.00 to $1,515.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the Internet television network’s stock. Rosenblatt Securities’ price target would suggest a potential upside of 18.90% from the company’s previous close.

NFLX has been the subject of several other reports. Cfra Research upgraded Netflix to a “strong-buy” rating in a research note on Monday, April 28th. Moffett Nathanson reissued a “buy” rating and issued a $1,150.00 price target (up from $1,100.00) on shares of Netflix in a research note on Friday, April 18th. Piper Sandler set a $1,400.00 price target on shares of Netflix and gave the stock an “overweight” rating in a research report on Friday, July 11th. Sanford C. Bernstein lifted their price target on shares of Netflix from $1,200.00 to $1,390.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Robert W. Baird boosted their price objective on shares of Netflix from $1,200.00 to $1,300.00 and gave the stock an “outperform” rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $1,245.30.

Netflix Stock Performance

NFLX opened at $1,274.17 on Friday. The stock’s 50 day moving average price is $1,231.20 and its two-hundred day moving average price is $1,058.57. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $542.25 billion, a P/E ratio of 60.22, a price-to-earnings-growth ratio of 2.26 and a beta of 1.59. Netflix has a 12-month low of $587.04 and a 12-month high of $1,341.15.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, topping the consensus estimate of $7.07 by $0.12. Netflix had a return on equity of 39.61% and a net margin of 23.07%. The firm had revenue of $11.08 billion for the quarter, compared to analyst estimates of $11.04 billion. During the same period in the previous year, the company posted $4.88 earnings per share. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities analysts forecast that Netflix will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Jay C. Hoag sold 32,515 shares of Netflix stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total transaction of $35,830,554.55. Following the completion of the sale, the director owned 79,040 shares of the company’s stock, valued at approximately $87,099,708.80. This trade represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the firm’s stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the sale, the chief financial officer owned 3,691 shares in the company, valued at $4,179,614.58. The trade was a 41.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 186,723 shares of company stock valued at $223,307,201 over the last three months. Insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in NFLX. Vanguard Group Inc. increased its holdings in Netflix by 1.4% during the first quarter. Vanguard Group Inc. now owns 37,997,260 shares of the Internet television network’s stock valued at $35,433,585,000 after buying an additional 509,255 shares during the period. FMR LLC lifted 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 worth $18,617,081,000 after acquiring an additional 375,234 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Netflix by 2.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,732,066 shares of the Internet television network’s stock worth $10,940,505,000 after buying an additional 304,399 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Netflix by 1.9% in the 4th 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 buying an additional 175,596 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock worth $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. 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.