Netflix (NFLX) Gets a Buy Rating from Piper Sandler
In a report released today, Yung Kim from Piper Sandler maintained a Buy rating on Netflix (NASDAQ: NFLX), with a price target of $580.00. The company’s shares closed last Wednesday at $470.61.
Currently, the analyst consensus on Netflix is a Moderate Buy with an average price target of $522.60, representing a 6.4% upside. In a report issued on September 14, KeyBanc also initiated coverage with a Buy rating on the stock with a $590.00 price target.
According to TipRanks.com, Kim is a 3-star analyst with an average return of 8.0% and a 43.8% success rate. Kim covers the Consumer Goods sector, focusing on stocks such as Activision Blizzard, Electronic Arts, and Take-Two.
Netflix’s market cap is currently $207.5B and has a P/E ratio of 82.80. The company has a Price to Book ratio of -13.69.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of NFLX in relation to earlier this year. Earlier this month, Richard N. Barton, a Director at NFLX sold 4,907 shares for a total of $2,698,850.
Netflix, Inc. is a streaming entertainment service company, which provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting solely of streaming content to its members in the United States. The International Streaming segment includes fees from members outside the United States. The Domestic DVD segment covers revenues from services consisting solely of DVD-by-mail. The company was founded by Marc Randolph and Wilmot Reed Hastings Jr., on August 29, 1997 and is headquartered in Los Gatos, CA.