Netflix (NASDAQ:NFLX) Price Target Raised to $1,400.00 at Piper Sandler

Netflix (NASDAQ:NFLX) had its price objective raised by Piper Sandler from $1,150.00 to $1,400.00 in a research report released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the Internet television network’s stock.

A number of other brokerages have also issued reports on NFLX. UBS Group boosted their target price on Netflix from $1,150.00 to $1,450.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Rosenblatt Securities boosted their target price on Netflix from $1,494.00 to $1,514.00 and gave the stock a “buy” rating in a research report on Monday, April 21st. Guggenheim reaffirmed a “buy” rating and set a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research report on Friday, April 18th. Canaccord Genuity Group reaffirmed a “buy” rating on shares of Netflix in a research report on Thursday. Finally, Needham & Company LLC boosted their target price on Netflix from $1,126.00 to $1,500.00 and gave the stock a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average target price of $1,214.52.

Netflix Trading Down 0.4%

Shares of Netflix stock opened at $1,245.11 on Friday. 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 cap of $529.88 billion, a price-to-earnings ratio of 58.84, a price-to-earnings-growth ratio of 2.27 and a beta of 1.59. The business has a fifty day simple moving average of $1,221.70 and a 200-day simple moving average of $1,049.04. Netflix has a fifty-two week low of $587.04 and a fifty-two week high of $1,341.15.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period in the previous year, the firm earned $8.28 earnings per share. On average, equities analysts forecast that Netflix will post 24.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Reed Hastings sold 9,673 shares of Netflix stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $1,329.11, for a total value of $12,856,481.03. Following the transaction, the director owned 394 shares in the company, valued at $523,669.34. This trade represents a 96.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Spencer Adam Neumann sold 2,601 shares of Netflix stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total transaction of $3,400,079.22. Following the completion of the transaction, the chief financial officer owned 3,691 shares in the company, valued at $4,824,949.02. This trade represents 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 in the last three months. Company insiders own 1.37% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC raised its holdings in Netflix by 100.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network’s stock worth $25,000 after acquiring an additional 13 shares during the period. Brown Shipley& Co Ltd bought a new position in Netflix in the 4th quarter worth $27,000. Ransom Advisory Ltd bought a new position in shares of Netflix during the 2nd quarter worth about $47,000. Transce3nd LLC bought a new position in shares of Netflix during the 4th quarter worth about $32,000. Finally, Flaharty Asset Management LLC acquired a new position in shares of Netflix during the first quarter valued at about $37,000. 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.