Analysts Set Netflix, Inc. (NASDAQ:NFLX) PT at $588.28


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Netflix, Inc. (NASDAQ:NFLX) has been given an average rating of “Buy” by the forty research firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and twenty-four have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $590.35.

Several research analysts have recently weighed in on NFLX shares. Truist upped their price objective on Netflix from $560.00 to $630.00 in a research report on Wednesday, January 20th. Benchmark reduced their price objective on Netflix from $485.00 to $472.00 and set a “sell” rating for the company in a research report on Monday, March 22nd. TheStreet raised Netflix from a “c+” rating to a “b” rating in a research report on Tuesday, December 22nd. Rosenblatt Securities upped their price objective on Netflix from $425.00 to $450.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 20th. Finally, Pivotal Research upped their target price on Netflix from $660.00 to $750.00 and gave the stock a “buy” rating in a report on Wednesday, January 20th.

In other Netflix news, Director Jay C. Hoag sold 974 shares of the firm’s stock in a transaction on Friday, February 5th. The stock was sold at an average price of $548.93, for a total value of $534,657.82. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jay C. Hoag sold 3,578 shares of the firm’s stock in a transaction on Monday, February 8th. The shares were sold at an average price of $553.16, for a total value of $1,979,206.48. The disclosure for this sale can be found here. Insiders have sold 5,028 shares of company stock worth $2,782,466 in the last three months. 3.40% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of the business. Spotlight Asset Group Inc. boosted its holdings in shares of Netflix by 41.6% in the 1st quarter. Spotlight Asset Group Inc. now owns 1,563 shares of the Internet television network’s stock valued at $815,000 after purchasing an additional 459 shares in the last quarter. Chesley Taft & Associates LLC acquired a new stake in shares of Netflix in the 1st quarter valued at $341,000. Carroll Financial Associates Inc. boosted its holdings in shares of Netflix by 40.6% in the 1st quarter. Carroll Financial Associates Inc. now owns 1,213 shares of the Internet television network’s stock valued at $632,000 after purchasing an additional 350 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Netflix in the 1st quarter valued at $5,609,000. Finally, Canandaigua National Corp bought a new position in shares of Netflix in the 1st quarter valued at $1,608,000. 79.71% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:NFLX opened at $546.99 on Monday. Netflix has a 1 year low of $363.03 and a 1 year high of $593.29. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.50. The stock has a market cap of $242.26 billion, a price-to-earnings ratio of 88.22, a PEG ratio of 1.86 and a beta of 0.92. The stock has a 50-day moving average price of $526.86 and a two-hundred day moving average price of $516.84.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Monday, January 18th. The Internet television network reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.38 by ($0.19). The firm had revenue of $6.64 billion for the quarter, compared to analyst estimates of $6.62 billion. Netflix had a return on equity of 31.48% and a net margin of 11.78%. The firm’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the company earned $1.30 earnings per share. Sell-side analysts forecast that Netflix will post 6.27 earnings per share for the current year.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.

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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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