Netflix (NASDAQ:NFLX) Upgraded at Rosenblatt Securities

Netflix (NASDAQ:NFLX) was upgraded by equities research analysts at Rosenblatt Securities from a “neutral” rating to a “buy” rating in a report issued on Wednesday, MarketBeat Ratings reports. The firm currently has a $1,494.00 price objective on the Internet television network’s stock, up from their prior price objective of $680.00. Rosenblatt Securities’ target price indicates a potential upside of 51.70% from the company’s current price.

A number of other equities research analysts have also recently commented on NFLX. Guggenheim raised their price target on shares of Netflix from $825.00 to $950.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Piper Sandler raised their target price on Netflix from $840.00 to $950.00 and gave the company an “overweight” rating in a research note on Tuesday, January 14th. Needham & Company LLC upped their price target on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Seaport Res Ptn upgraded Netflix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, Barclays boosted their price objective on Netflix from $550.00 to $715.00 and gave the company an “underweight” rating in a report on Tuesday, January 14th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average target price of $996.94.

Netflix Price Performance

NFLX stock opened at $984.86 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. The firm has a market cap of $420.99 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 1.41 and a beta of 1.27. The company’s fifty day simple moving average is $889.11 and its 200 day simple moving average is $763.41. Netflix has a 12-month low of $537.07 and a 12-month high of $999.00.

Netflix (NASDAQ:NFLX) last issued its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The business had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a return on equity of 39.48% and a net margin of 22.34%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the company posted $2.11 earnings per share. On average, analysts expect that Netflix will post 23.43 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Theodore A. Sarandos sold 1,278 shares of Netflix stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total value of $980,289.90. Following the completion of the transaction, the chief executive officer now directly owns 2,556 shares in the company, valued at approximately $1,960,579.80. The trade was a 33.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David A. Hyman sold 267 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now owns 31,610 shares in the company, valued at approximately $24,202,828.70. This represents a 0.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,500 shares of company stock valued at $123,309,210. 1.76% of the stock is owned by insiders.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Custom Index Systems LLC boosted its stake in Netflix by 3.7% in the 4th quarter. Custom Index Systems LLC now owns 1,569 shares of the Internet television network’s stock worth $1,398,000 after purchasing an additional 56 shares during the period. Heck Capital Advisors LLC bought a new position in shares of Netflix in the fourth quarter valued at approximately $446,000. Austin Private Wealth LLC grew its stake in Netflix by 16.8% during the fourth quarter. Austin Private Wealth LLC now owns 834 shares of the Internet television network’s stock valued at $743,000 after acquiring an additional 120 shares in the last quarter. Caprock Group LLC increased its holdings in Netflix by 3.9% during the 4th quarter. Caprock Group LLC now owns 17,745 shares of the Internet television network’s stock worth $15,817,000 after acquiring an additional 661 shares during the period. Finally, New Wave Wealth Advisors LLC lifted its stake in Netflix by 5.7% in the 4th quarter. New Wave Wealth Advisors LLC now owns 1,754 shares of the Internet television network’s stock worth $1,563,000 after purchasing an additional 95 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

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.