Netflix (NASDAQ:NFLX) Reaches New 1-Year High After Analyst Upgrade

Netflix, Inc. (NASDAQ:NFLX – Get Free Report) reached a new 52-week high during mid-day trading on Thursday after JPMorgan Chase & Co. raised their price target on the stock from $470.00 to $495.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Netflix traded as high as $451.42 and last traded at $451.09, with a volume of 4721243 shares changing hands. The stock had previously closed at $444.05.

Several other equities analysts have also recently weighed in on NFLX. Wedbush reiterated an “outperform” rating on shares of Netflix in a research report on Thursday, April 13th. TheStreet upgraded shares of Netflix from a “c” rating to a “b-” rating in a report on Tuesday, April 18th. Piper Sandler boosted their price target on shares of Netflix from $325.00 to $350.00 and gave the company a “neutral” rating in a report on Wednesday, April 19th. Oppenheimer boosted their price target on shares of Netflix from $450.00 to $500.00 and gave the company an “outperform” rating in a report on Wednesday, June 28th. Finally, Jefferies Financial Group boosted their price target on shares of Netflix from $405.00 to $440.00 in a report on Tuesday, May 30th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $387.72.

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Insider Activity

In other news, Chairman Reed Hastings sold 26,278 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $323.96, for a total transaction of $8,513,020.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Richard N. Barton sold 500 shares of the company’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $438.52, for a total value of $219,260.00. Following the sale, the director now owns 86 shares of the company’s stock, valued at $37,712.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 26,278 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $323.96, for a total transaction of $8,513,020.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 87,636 shares of company stock valued at $33,599,416. Insiders own 2.45% of the company’s stock.

Institutional Trading of Netflix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NFLX. Baldrige Asset Management LLC increased its stake in Netflix by 156.3% in the first quarter. Baldrige Asset Management LLC now owns 82 shares of the Internet television network’s stock valued at $28,000 after acquiring an additional 50 shares during the period. Phocas Financial Corp. bought a new stake in Netflix during the fourth quarter worth about $29,000. Yarbrough Capital LLC bought a new stake in Netflix during the fourth quarter worth about $29,000. Tanglewood Legacy Advisors LLC bought a new stake in Netflix during the fourth quarter worth about $29,000. Finally, Barrett & Company Inc. bought a new stake in Netflix during the first quarter worth about $29,000. Institutional investors own 89.73% of the company’s stock.

Netflix Price Performance

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $200.21 billion, a P/E ratio of 48.43, a PEG ratio of 1.64 and a beta of 1.27. The company’s 50 day simple moving average is $400.12 and its two-hundred day simple moving average is $353.50.

Netflix (NASDAQ:NFLX – Get Free Report) last released its quarterly earnings results on Tuesday, April 18th. The Internet television network reported $2.88 EPS for the quarter, beating the consensus estimate of $2.83 by $0.05. Netflix had a net margin of 13.16% and a return on equity of 20.43%. The business had revenue of $8.16 billion for the quarter, compared to analysts’ expectations of $8.18 billion. During the same period in the prior year, the firm earned $3.53 earnings per share. Netflix’s revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts expect that Netflix, Inc. will post 11.26 EPS for the current fiscal year.

Netflix Company Profile

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Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.

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