Netflix (NASDAQ:NFLX) Price Target Raised to $940.00 at Canaccord Genuity Group

Netflix (NASDAQ:NFLX) had its price objective hoisted by Canaccord Genuity Group from $760.00 to $940.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a hold rating on the Internet television network’s stock.

A number of other equities analysts have also issued reports on the company. JPMorgan Chase & Co. raised their price target on Netflix from $750.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday, October 18th. Piper Sandler reiterated an “overweight” rating and issued a $840.00 target price (up from $800.00) on shares of Netflix in a research note on Friday, October 18th. Loop Capital upped their price target on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Pivotal Research lifted their price objective on shares of Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Rosenblatt Securities upped their price objective on shares of Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, Netflix presently has a consensus rating of “Moderate Buy” and an average price target of $775.58.

Netflix Trading Up 1.0 %

NFLX opened at $911.06 on Monday. 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 52 week low of $445.73 and a 52 week high of $915.97. The business’s 50 day moving average is $784.25 and its two-hundred day moving average is $706.19. The firm has a market cap of $389.44 billion, a price-to-earnings ratio of 51.56, a price-to-earnings-growth ratio of 1.73 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The business had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a net margin of 20.70% and a return on equity of 35.86%. On average, research analysts predict that Netflix will post 19.78 EPS for the current year.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 48,363 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the transaction, the chairman now owns 114 shares of the company’s stock, valued at approximately $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Anne M. Sweeney sold 589 shares of Netflix stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $880.00, for a total transaction of $518,320.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 209,155 shares of company stock valued at $159,682,799. 1.76% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Netflix

Several institutional investors have recently added to or reduced their stakes in NFLX. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix during the 3rd quarter worth $25,000. Denver PWM LLC acquired a new stake in Netflix during the second quarter worth about $25,000. Proffitt & Goodson Inc. raised its holdings in shares of Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock worth $32,000 after purchasing an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its holdings in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the period. Finally, AlphaMark Advisors LLC increased its position in Netflix by 642.9% during the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock worth $35,000 after purchasing an additional 45 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.