In a report released today, Jeffrey Wlodarczak from Pivotal Research reiterated a Buy rating on Netflix (NFLX), with a price target of $750.00. The company’s shares closed last Tuesday at $501.77.
According to TipRanks.com, Wlodarczak is a 4-star analyst with an average return of 9.9% and a 64.2% success rate. Wlodarczak covers the Services sector, focusing on stocks such as Liberty Media Liberty Formula One, Liberty Sirius XM Group, and Liberty LiLAC Group.
Currently, the analyst consensus on Netflix is a Moderate Buy with an average price target of $596.43, representing a 19.0% upside. In a report issued on January 7, Cowen & Co. also maintained a Buy rating on the stock with a $650.00 price target.
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Based on Netflix’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $6.44 billion and net profit of $790 million. In comparison, last year the company earned revenue of $5.24 billion and had a net profit of $665 million.
Based on the recent corporate insider activity of 52 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. Most recently, in November 2020, Jay Hoag, a Director at NFLX sold 21,119 shares for a total of $9,881,158.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.