Piper Sandler Reiterates “Overweight” Rating for Netflix (NASDAQ:NFLX)

Netflix (NASDAQ:NFLX)‘s stock had its “overweight” rating restated by investment analysts at Piper Sandler in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $1,100.00 target price on the Internet television network’s stock, up from their prior target price of $950.00. Piper Sandler’s price target would indicate a potential upside of 13.73% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the company. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research note on Saturday, December 21st. Deutsche Bank Aktiengesellschaft upped their price target on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research note on Wednesday. Argus boosted their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Wedbush restated an “outperform” rating and set a $950.00 price objective (up previously from $800.00) on shares of Netflix in a research report on Monday, November 18th. Finally, TD Cowen boosted their price target on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $981.09.

Netflix Stock Up 11.2 %

NASDAQ:NFLX traded up $97.52 during midday trading on Wednesday, reaching $967.20. The company had a trading volume of 8,674,372 shares, compared to its average volume of 4,108,505. The stock’s fifty day simple moving average is $886.64 and its 200-day simple moving average is $762.07. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $413.44 billion, a price-to-earnings ratio of 54.63, a PEG ratio of 1.40 and a beta of 1.27. Netflix has a 12-month low of $481.40 and a 12-month high of $999.00.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same quarter last year, the company earned $2.11 EPS. On average, sell-side analysts anticipate that Netflix will post 19.76 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Director Richard N. Barton sold 5,698 shares of the 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 transaction, the director now owns 246 shares in the company, valued at $185,976. This trade represents a 95.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Anne M. Sweeney sold 589 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 152,198 shares of company stock valued at $127,616,898. 1.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Netflix

A number of large investors have recently bought and sold shares of the business. Advisory Resource Group lifted its holdings in Netflix by 0.7% in the third quarter. Advisory Resource Group now owns 1,746 shares of the Internet television network’s stock valued at $1,238,000 after buying an additional 12 shares during the period. Insight Wealth Strategies LLC increased its stake in Netflix by 1.9% during the 4th quarter. Insight Wealth Strategies LLC now owns 656 shares of the Internet television network’s stock worth $585,000 after purchasing an additional 12 shares in the last quarter. Sunflower Bank N.A. boosted its stake in Netflix by 2.1% in the 4th quarter. Sunflower Bank N.A. now owns 575 shares of the Internet television network’s stock worth $513,000 after purchasing an additional 12 shares during the period. D.B. Root & Company LLC boosted its position in Netflix by 4.1% during the 4th quarter. D.B. Root & Company LLC now owns 331 shares of the Internet television network’s stock worth $295,000 after acquiring an additional 13 shares during the last quarter. Finally, New World Advisors LLC grew its position in Netflix by 2.0% in the third quarter. New World Advisors LLC now owns 724 shares of the Internet television network’s stock valued at $514,000 after purchasing an additional 14 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

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.