Piper Sandler Boosts Netflix (NASDAQ:NFLX) Price Target to $1,500.00

Netflix (NASDAQ:NFLX - Get Free Report) had its target price lifted by equities research analysts at Piper Sandler from $1,400.00 to $1,500.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an "overweight" rating on the Internet television network's stock. Piper Sandler's price objective would suggest a potential upside of 17.72% from the stock's current price.

Other analysts have also issued research reports about the stock. FBN Securities initiated coverage on shares of Netflix in a research note on Thursday, March 27th. They set an "outperform" rating and a $1,165.00 price objective on the stock. Pivotal Research restated a "buy" rating on shares of Netflix in a research note on Thursday, July 10th. Guggenheim restated a "buy" rating and set a $1,150.00 price objective (up previously from $1,100.00) on shares of Netflix in a report on Friday, April 18th. Evercore ISI reiterated an "outperform" rating on shares of Netflix in a report on Thursday, May 15th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating on shares of Netflix in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $1,245.30.

Netflix Stock Up 1.9%

NASDAQ:NFLX opened at $1,274.17 on Friday. The firm has a market capitalization of $542.25 billion, a P/E ratio of 60.22, a PEG ratio of 2.26 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.20 and a quick ratio of 1.20. The company's fifty day moving average price is $1,231.20 and its 200-day moving average price is $1,058.57. Netflix has a 1-year low of $587.04 and a 1-year high of $1,341.15.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, July 17th. The Internet television network reported $7.19 earnings per share for the quarter, beating analysts' consensus estimates of $7.07 by $0.12. Netflix had a net margin of 23.07% and a return on equity of 39.61%. The firm had revenue of $11.08 billion during the quarter, compared to analysts' expectations of $11.04 billion. During the same quarter in the previous year, the business posted $4.88 earnings per share. The business's quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Netflix will post 24.58 EPS for the current year.

Insider Activity

In other news, CFO Spencer Adam Neumann sold 2,601 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1,307.22, for a total value of $3,400,079.22. Following the completion of the transaction, the chief financial officer owned 3,691 shares of the company's stock, valued at $4,824,949.02. This represents a 41.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Jeffrey William Karbowski sold 620 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $1,286.84, for a total value of $797,840.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 186,723 shares of company stock worth $223,307,201. Corporate insiders own 1.37% of the company's stock.

Institutional Trading of Netflix

Hedge funds have recently bought and sold shares of the company. Halbert Hargrove Global Advisors LLC raised its stake in Netflix by 100.0% during the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 26 shares of the Internet television network's stock valued at $25,000 after purchasing an additional 13 shares during the period. Maseco LLP purchased a new position in Netflix during the second quarter worth approximately $39,000. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix in the fourth quarter valued at approximately $27,000. Ransom Advisory Ltd purchased a new stake in Netflix in the second quarter valued at $47,000. Finally, Transce3nd LLC acquired a new position in Netflix during the 4th quarter worth $32,000. 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.

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