Netflix, Inc. (NASDAQ:NFLX) Receives $1,297.66 Consensus PT from Analysts

Key Points

• Netflix, Inc. has received a consensus rating of "Moderate Buy" from 36 brokerages, with 22 recommending Buy, 10 Hold, and 3 Sell.
• The average 12-month target price for Netflix shares is $1,297.66, reflecting an optimistic outlook from analysts.
• Netflix reported earnings of $7.19 EPS for the latest quarter, exceeding expectations and marking a 15.9% revenue increase year-over-year.

Netflix, Inc. (NASDAQ:NFLX - Get Free Report) has been given a consensus rating of "Moderate Buy" by the thirty-six brokerages that are covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $1,297.66.

Several research analysts recently commented on the stock. Barclays reaffirmed a "sell" rating and issued a $1,100.00 price target (up previously from $1,000.00) on shares of Netflix in a research note on Wednesday, July 9th. Wedbush reaffirmed an "outperform" rating and issued a $1,500.00 price target (up previously from $1,400.00) on shares of Netflix in a research note on Monday, July 14th. Macquarie raised their target price on shares of Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a research report on Monday, April 21st. Loop Capital reissued a "hold" rating on shares of Netflix in a research report on Tuesday, July 15th. Finally, Piper Sandler raised their target price on shares of Netflix from $1,400.00 to $1,500.00 and gave the company an "overweight" rating in a research report on Friday, July 18th.

Insider Activity

In other Netflix news, Director Bradford L. Smith sold 3,919 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $1,124.26, for a total value of $4,405,974.94. Following the transaction, the director owned 7,969 shares of the company's stock, valued at $8,959,227.94. This represents a 32.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Reed Hastings sold 26,933 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $1,211.66, for a total transaction of $32,633,638.78. Following the sale, the director directly owned 394 shares in the company, valued at $477,394.04. This represents a 98.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,830 shares of company stock worth $153,102,930. Insiders own 1.37% of the company's stock.

Hedge Funds Weigh In On Netflix

Several hedge funds have recently added to or reduced their stakes in NFLX. Brighton Jones LLC boosted its holdings in shares of Netflix by 5.0% in the fourth quarter. Brighton Jones LLC now owns 5,390 shares of the Internet television network's stock valued at $4,804,000 after acquiring an additional 257 shares during the period. Revolve Wealth Partners LLC boosted its holdings in shares of Netflix by 16.4% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,023 shares of the Internet television network's stock valued at $912,000 after acquiring an additional 144 shares during the period. BIP Wealth LLC boosted its holdings in shares of Netflix by 23.8% in the fourth quarter. BIP Wealth LLC now owns 453 shares of the Internet television network's stock valued at $403,000 after acquiring an additional 87 shares during the period. New Age Alpha Advisors LLC lifted its holdings in shares of Netflix by 23,012.5% during the fourth quarter. New Age Alpha Advisors LLC now owns 3,698 shares of the Internet television network's stock worth $3,296,000 after purchasing an additional 3,682 shares during the period. Finally, RiverFront Investment Group LLC acquired a new stake in shares of Netflix during the fourth quarter worth $227,000. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

Netflix Trading Down 0.8%

NFLX stock traded down $9.97 during trading on Monday, hitting $1,174.23. The company had a trading volume of 704,720 shares, compared to its average volume of 4,252,643. The firm has a market capitalization of $498.97 billion, a P/E ratio of 49.99, a PEG ratio of 1.97 and a beta of 1.59. Netflix has a 52-week low of $587.04 and a 52-week high of $1,341.15. The company has a 50 day simple moving average of $1,235.42 and a 200-day simple moving average of $1,077.88. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 0.58.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The Internet television network reported $7.19 EPS for the quarter, topping the consensus estimate of $7.07 by $0.12. The company had revenue of $11.08 billion for the quarter, compared to the consensus estimate of $11.04 billion. Netflix had a net margin of 24.58% and a return on equity of 42.50%. The firm's revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the firm posted $4.88 EPS. As a group, research analysts forecast that Netflix will post 24.58 earnings per share for the current fiscal 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.