Netflix (NASDAQ:NFLX) Stock Price Expected to Rise, Bank of America Analyst Says

Netflix (NASDAQ:NFLX - Get Free Report) had its price target upped by equities research analysts at Bank of America from $1,000.00 to $1,175.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the Internet television network's stock. Bank of America's target price points to a potential upside of 35.11% from the company's current price.

A number of other research firms have also recently weighed in on NFLX. Loop Capital cut their price objective on shares of Netflix from $950.00 to $925.00 and set a "hold" rating on the stock in a research report on Thursday, January 16th. Evercore ISI raised their price objective on shares of Netflix from $775.00 to $950.00 and gave the stock an "outperform" rating in a research note on Monday, December 2nd. Pivotal Research upped their target price on Netflix from $925.00 to $1,100.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. Piper Sandler boosted their price objective on Netflix from $840.00 to $950.00 and gave the company an "overweight" rating in a report on Tuesday, January 14th. Finally, Guggenheim upped their price objective on Netflix from $825.00 to $950.00 and gave the company a "buy" rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $952.30.

Netflix Stock Performance

Netflix stock opened at $869.68 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix has a twelve month low of $479.90 and a twelve month high of $941.75. The company's 50-day moving average price is $885.64 and its 200-day moving average price is $760.81. The company has a market cap of $371.75 billion, a PE ratio of 49.22, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion during 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 company's revenue for the quarter was up 16.0% on a year-over-year basis. During the same period last year, the company earned $2.11 EPS. On average, equities research analysts forecast that Netflix will post 19.76 EPS for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of Netflix stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the sale, the chairman now owns 114 shares of the company's stock, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard N. Barton sold 6,364 shares of the stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total value of $5,596,374.32. Following the completion of the transaction, the director now directly owns 246 shares in the company, valued at $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 152,198 shares of company stock worth $127,616,898 in the last three months. Corporate insiders own 1.76% of the company's stock.

Institutional Investors Weigh In On Netflix

A number of institutional investors and hedge funds have recently modified their holdings of NFLX. International Assets Investment Management LLC raised its position in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network's stock worth $4,080,522,000 after buying an additional 5,748,200 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Netflix by 154.7% in the third quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network's stock worth $750,713,000 after buying an additional 642,920 shares during the last quarter. State Street Corp lifted its holdings in Netflix by 2.6% in the third quarter. State Street Corp now owns 16,951,347 shares of the Internet television network's stock valued at $12,023,082,000 after acquiring an additional 426,740 shares during the period. Jennison Associates LLC boosted its position in Netflix by 4.7% in the 3rd quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network's stock worth $4,958,417,000 after purchasing an additional 316,594 shares in the last quarter. Finally, Westfield Capital Management Co. LP acquired a new stake in shares of Netflix during the 3rd quarter worth approximately $222,871,000. Institutional investors and hedge funds 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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