Netflix (NASDAQ:NFLX) Rating Increased to Buy at Moffett Nathanson

Netflix (NASDAQ:NFLX) was upgraded by analysts at Moffett Nathanson from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, MarketBeat.com reports. The firm currently has a $1,100.00 price target on the Internet television network’s stock, up from their prior price target of $850.00. Moffett Nathanson’s target price points to a potential upside of 19.83% from the company’s previous close.

Several other research analysts have also recently issued reports on NFLX. Sanford C. Bernstein upgraded Netflix from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $975.00 to $1,200.00 in a research report on Friday, January 24th. Piper Sandler reiterated an “overweight” rating and issued a $1,100.00 price target (up previously from $950.00) on shares of Netflix in a report on Wednesday, January 22nd. Benchmark raised shares of Netflix from a “sell” rating to a “hold” rating in a report on Wednesday, January 22nd. Morgan Stanley increased their target price on shares of Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group boosted their price target on Netflix from $850.00 to $960.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,016.78.

Netflix Stock Up 3.1 %

Shares of NASDAQ:NFLX opened at $918.00 on Monday. Netflix has a fifty-two week low of $542.01 and a fifty-two week high of $1,064.50. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $951.04 and its 200-day simple moving average is $849.90. The company has a market cap of $392.68 billion, a price-to-earnings ratio of 46.29, a PEG ratio of 2.12 and a beta of 1.38.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10.14 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.11 EPS. As a group, equities research analysts predict that Netflix will post 24.58 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the sale, the director now owns 246 shares in the company, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Reed Hastings sold 35,868 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the transaction, the chairman now owns 114 shares in the company, valued at $101,241.12. The trade was a 99.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 288,103 shares of company stock valued at $279,142,041. Insiders own 1.76% of the company’s stock.

Institutional Investors Weigh In On Netflix

Large investors have recently made changes to their positions in the business. RPg Family Wealth Advisory LLC purchased a new stake in Netflix during the 3rd quarter worth $25,000. Pathway Financial Advisers LLC boosted its position in shares of Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after buying an additional 14 shares during the period. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix in the fourth quarter valued at about $27,000. Transce3nd LLC acquired a new position in Netflix during the 4th quarter worth approximately $32,000. Finally, Newton One Investments LLC purchased a new position in Netflix in the 4th quarter worth approximately $34,000. Institutional investors and hedge funds 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.