Oppenheimer Forecasts Strong Price Appreciation for Netflix (NASDAQ:NFLX) Stock

Netflix (NASDAQ:NFLX) had its price objective boosted by research analysts at Oppenheimer from $1,040.00 to $1,150.00 in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has an “outperform” rating on the Internet television network’s stock. Oppenheimer’s price objective suggests a potential upside of 16.77% from the stock’s previous close.

A number of other equities analysts also recently commented on the company. Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $715.00 to $900.00 in a report on Wednesday. Piper Sandler raised their price target on shares of Netflix from $840.00 to $950.00 and gave the company an “overweight” rating in a report on Tuesday, January 14th. TD Cowen upped their price objective on shares of Netflix from $820.00 to $835.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Robert W. Baird raised their target price on Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, The Goldman Sachs Group upped their price target on Netflix from $750.00 to $850.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 8th. Ten analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $996.94.

Netflix Stock Up 3.2 %

NFLX stock opened at $984.86 on Wednesday. The company has a 50 day moving average of $889.11 and a two-hundred day moving average of $763.41. The company 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. Netflix has a 12-month low of $537.07 and a 12-month high of $999.00. 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 (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a return on equity of 39.48% and a net margin of 22.34%. The business had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10,141,900 billion. During the same period last year, the company earned $2.11 earnings per share. Netflix’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, equities analysts anticipate that Netflix will post 23.43 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In related news, Director Richard N. Barton sold 6,364 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 246 shares in the company, valued at $216,327.48. This trade represents a 96.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 31,610 shares in the company, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 146,500 shares of company stock valued at $123,309,210. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. RPg Family Wealth Advisory LLC bought a new position in Netflix during the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Netflix by 700.0% during 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 buying an additional 42 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Netflix in the third quarter valued at approximately $37,000. FSA Wealth Management LLC acquired a new position in shares of Netflix in the 3rd quarter worth approximately $38,000. Finally, First Personal Financial Services bought a new stake in Netflix during the 3rd quarter worth approximately $40,000. 80.93% of the stock is owned by institutional investors.

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.