Oppenheimer Raises Netflix (NASDAQ:NFLX) Price Target to $775.00

Netflix (NASDAQ:NFLX) had its price target hoisted by Oppenheimer from $725.00 to $775.00 in a research note issued to investors on Thursday, Marketbeat reports. The brokerage currently has an outperform rating on the Internet television network’s stock.

A number of other research firms have also recently weighed in on NFLX. Jefferies Financial Group boosted their target price on shares of Netflix from $655.00 to $780.00 and gave the stock a buy rating in a research note on Tuesday, July 16th. Piper Sandler upgraded Netflix from a neutral rating to an overweight rating and boosted their price objective for the stock from $650.00 to $800.00 in a research report on Monday, October 7th. Rosenblatt Securities reissued a neutral rating and set a $635.00 price target on shares of Netflix in a research note on Friday, September 20th. Macquarie reaffirmed an outperform rating and issued a $685.00 price objective on shares of Netflix in a research note on Tuesday, July 16th. Finally, Bank of America raised their price objective on shares of Netflix from $700.00 to $740.00 and gave the company a buy rating in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat, Netflix currently has a consensus rating of Moderate Buy and a consensus price target of $702.79.

Netflix Stock Performance

NFLX opened at $722.79 on Thursday. The firm has a market cap of $311.52 billion, a P/E ratio of 50.16, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. Netflix has a 52-week low of $344.73 and a 52-week high of $736.00. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The business’s fifty day moving average is $686.60 and its 200-day moving average is $651.33.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The firm had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the previous year, the firm earned $3.29 earnings per share. The business’s quarterly revenue was up 16.8% on a year-over-year basis. Sell-side analysts expect that Netflix will post 19.08 EPS for the current fiscal year.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares of the company’s stock, valued at $35,991.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $35,991.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the sale, the director now directly owns 35,262 shares of the company’s stock, valued at $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,167 shares of company stock valued at $150,492,460 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. Denver PWM LLC bought a new position in shares of Netflix in the second quarter valued at approximately $25,000. Valued Wealth Advisors LLC grew its holdings in shares of Netflix by 80.0% in the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock valued at $27,000 after acquiring an additional 20 shares in the last quarter. Beaird Harris Wealth Management LLC grew its holdings in shares of Netflix by 1,550.0% in the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 62 shares in the last quarter. Scarborough Advisors LLC bought a new position in shares of Netflix in the fourth quarter valued at approximately $32,000. Finally, Indiana Trust & Investment Management CO grew its holdings in shares of Netflix by 112.0% in the first quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock valued at $32,000 after acquiring an additional 28 shares in the last quarter. 80.93% of the stock is owned by institutional investors.

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.