Netflix (NASDAQ:NFLX) Rating Increased to Outperform at Sanford C. Bernstein

Netflix (NASDAQ:NFLX) was upgraded by equities researchers at Sanford C. Bernstein from a “market perform” rating to an “outperform” rating in a research report issued on Friday,Briefing.com Automated Import reports. The firm currently has a $1,200.00 price objective on the Internet television network’s stock, up from their previous price objective of $975.00. Sanford C. Bernstein’s price objective indicates a potential upside of 21.84% from the company’s current price.

NFLX has been the subject of a number of other reports. Argus lifted their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Monday, January 6th. Piper Sandler reissued an “overweight” rating and set a $1,100.00 price objective (up from $950.00) on shares of Netflix in a report on Wednesday. Needham & Company LLC increased their price objective on Netflix from $800.00 to $1,150.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group lifted their target price on Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $1,175.00 price target (up from $1,000.00) on shares of Netflix in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,009.29.

Netflix Stock Up 3.2 %

Shares of Netflix stock opened at $984.86 on Friday. The firm has a market cap of $420.99 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 1.53 and a beta of 1.27. The stock’s 50-day moving average is $889.11 and its 200 day moving average is $763.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13. Netflix has a one year low of $537.07 and a one year high of $999.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. During the same quarter last year, the firm posted $2.11 EPS. The company’s quarterly revenue was up 16.0% on a year-over-year basis. Equities research analysts anticipate that Netflix will post 23.72 EPS for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, insider David A. Hyman sold 267 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. This represents a 0.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction 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 $102,212.40. This trade represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,500 shares of company stock valued at $123,309,210 in the last quarter. 1.76% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Netflix

Several large investors have recently added to or reduced their stakes in the business. RPg Family Wealth Advisory LLC bought a new position in Netflix in the 3rd quarter worth about $25,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Netflix by 700.0% in the third 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 last quarter. MidAtlantic Capital Management Inc. purchased a new stake in Netflix in the third quarter valued at approximately $37,000. FSA Wealth Management LLC bought a new stake in Netflix during the third quarter valued at approximately $38,000. Finally, First Personal Financial Services bought a new stake in Netflix during the third quarter valued at approximately $40,000. Institutional investors own 80.93% of the company’s stock.

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.