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

Netflix (NASDAQ:NFLX) had its target price increased by Canaccord Genuity Group from $760.00 to $940.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the Internet television network’s stock. Canaccord Genuity Group’s price target indicates a potential upside of 6.00% from the company’s previous close.

Several other equities analysts also recently weighed in on NFLX. Piper Sandler reaffirmed an “overweight” rating and set a $840.00 price target (up previously from $800.00) on shares of Netflix in a report on Friday, October 18th. Wedbush reiterated an “outperform” rating and issued a $950.00 price target (up previously from $800.00) on shares of Netflix in a research note on Monday, November 18th. TD Cowen boosted their price objective on Netflix from $820.00 to $835.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Jefferies Financial Group upped their price target on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Pivotal Research raised their price objective on Netflix from $925.00 to $1,100.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $775.58.

Netflix Stock Up 1.1 %

Shares of NFLX stock opened at $886.81 on Monday. Netflix has a 12 month low of $445.73 and a 12 month high of $908.00. The stock has a market cap of $379.08 billion, a P/E ratio of 50.19, a P/E/G ratio of 1.71 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The company has a 50 day simple moving average of $773.01 and a two-hundred day simple moving average of $700.75.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. On average, research analysts expect that Netflix will post 19.78 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Gregory K. Peters sold 4,392 shares of the company’s stock in a transaction on Wednesday, September 25th. The shares were sold at an average price of $725.00, for a total value of $3,184,200.00. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $9,490,250. This represents a 25.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Timothy M. Haley sold 11,090 shares of Netflix stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total value of $8,405,776.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 185,866 shares of company stock worth $133,393,921. 1.76% of the stock is currently owned by insiders.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently bought and sold shares of the stock. American Trust purchased a new stake in Netflix in the 3rd quarter worth approximately $323,000. Old North State Trust LLC lifted its stake in shares of Netflix by 3.2% in the 3rd quarter. Old North State Trust LLC now owns 699 shares of the Internet television network’s stock valued at $496,000 after purchasing an additional 22 shares during the period. Franklin Resources Inc. boosted its holdings in Netflix by 11.5% during the third quarter. Franklin Resources Inc. now owns 1,236,539 shares of the Internet television network’s stock worth $881,652,000 after buying an additional 127,541 shares in the last quarter. Synovus Financial Corp boosted its holdings in Netflix by 43.9% during the third quarter. Synovus Financial Corp now owns 12,667 shares of the Internet television network’s stock worth $8,984,000 after buying an additional 3,864 shares in the last quarter. Finally, Destination Wealth Management grew its position in Netflix by 7.5% during the third quarter. Destination Wealth Management now owns 1,083 shares of the Internet television network’s stock valued at $768,000 after buying an additional 76 shares during the period. 80.93% of the stock is owned by institutional investors and hedge funds.

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.