JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX) had its price objective increased by analysts at JPMorgan Chase & Co. from $1,000.00 to $1,150.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the Internet television network’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 32.23% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Piper Sandler upped their price target on shares of Netflix from $840.00 to $950.00 and gave the stock an “overweight” rating in a report on Tuesday, January 14th. Barclays upped their target price on shares of Netflix from $550.00 to $715.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 14th. Argus lifted their price target on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Morgan Stanley increased their price objective on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday, October 18th. Finally, Wedbush restated an “outperform” rating and set a $950.00 price objective (up from $800.00) on shares of Netflix in a report on Monday, November 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $952.30.

Netflix Stock Performance

NASDAQ:NFLX opened at $869.68 on Wednesday. The stock’s fifty day moving average is $885.64 and its 200 day moving average is $760.81. The firm has a market capitalization of $371.75 billion, a PE ratio of 49.22, a PEG ratio of 1.40 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix has a fifty-two week low of $479.90 and a fifty-two week high of $941.75.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. During the same period in the prior year, the business posted $2.11 earnings per share. The company’s revenue for the quarter was up 16.0% on a year-over-year basis. On average, sell-side analysts anticipate that Netflix will post 19.76 earnings per share for the current year.

Insider Transactions at Netflix

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $757.96, for a total value of $8,405,776.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction that occurred on 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 sale, the chairman now directly owns 114 shares in the company, valued at $102,212.40. The trade was a 99.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 152,198 shares of company stock worth $127,616,898 over the last 90 days. 1.76% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFLX. DigitalBridge Group Inc. grew its holdings in Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock valued at $24,338,000 after purchasing an additional 9,451 shares during the period. Nordea Investment Management AB lifted its position in shares of Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after buying an additional 156,958 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Netflix by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,579,404 shares of the Internet television network’s stock valued at $1,829,494,000 after acquiring an additional 29,726 shares during the period. Natixis Advisors LLC increased its holdings in Netflix by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 612,458 shares of the Internet television network’s stock worth $434,398,000 after acquiring an additional 11,921 shares in the last quarter. Finally, M&T Bank Corp raised its position in Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock worth $29,751,000 after acquiring an additional 1,684 shares during the period. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.