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

Netflix (NASDAQ:NFLX) had its target price raised by investment analysts at Argus from $840.00 to $1,040.00 in a report released on Monday, MarketBeat reports. The firm presently has a “buy” rating on the Internet television network’s stock. Argus’ price target would indicate a potential upside of 18.29% from the stock’s previous close.

A number of other analysts have also weighed in on the stock. Needham & Company LLC upped their target price on shares of Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Piper Sandler restated an “overweight” rating and issued a $840.00 price objective (up from $800.00) on shares of Netflix in a research report on Friday, October 18th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $825.00 target price (up from $770.00) on shares of Netflix in a research note on Friday, October 18th. Jefferies Financial Group boosted their price target on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Finally, Wolfe Research restated an “outperform” rating on shares of Netflix in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $821.27.

Netflix Stock Down 0.3 %

Netflix stock opened at $879.19 on Monday. The firm has a 50 day simple moving average of $871.62 and a 200 day simple moving average of $749.78. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. Netflix has a 1-year low of $472.95 and a 1-year high of $941.75. The firm has a market capitalization of $375.82 billion, a price-to-earnings ratio of 49.76, a P/E/G ratio of 1.77 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. The company had revenue of $9.82 billion during the quarter, compared to analysts’ expectations of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, analysts predict that Netflix will post 19.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now directly owns 35,262 shares in the company, valued at $25,741,260. The trade was a 1.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total value of $31,853,653.44. Following the sale, the chairman now owns 114 shares in the company, valued at approximately $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 150,761 shares of company stock valued at $125,713,484. 1.76% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NFLX. Strategic Financial Concepts LLC raised its holdings in shares of Netflix by 58,624.5% during the second quarter. Strategic Financial Concepts LLC now owns 213,757 shares of the Internet television network’s stock valued at $1,443,000 after purchasing an additional 213,393 shares during the last quarter. Acadian Asset Management LLC raised its stake in Netflix by 142.3% during the 2nd quarter. Acadian Asset Management LLC now owns 55,345 shares of the Internet television network’s stock valued at $37,346,000 after buying an additional 32,505 shares during the last quarter. Stonekeep Investments LLC bought a new position in shares of Netflix during the 2nd quarter valued at $585,000. NRI Wealth Management LC purchased a new position in shares of Netflix in the 2nd quarter worth $2,320,000. Finally, Fox Hill Wealth Management grew its holdings in shares of Netflix by 32.6% in the second quarter. Fox Hill Wealth Management now owns 5,493 shares of the Internet television network’s stock worth $3,707,000 after acquiring an additional 1,350 shares during the period. 80.93% of the stock is 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.