Netflix (NASDAQ:NFLX) Price Target Lowered to $620.00 at KeyCorp

Netflix (NASDAQ:NFLX) had its price target decreased by KeyCorp from $725.00 to $620.00 in a research note released on Tuesday morning, The Fly reports. KeyCorp currently has an overweight rating on the Internet television network’s stock. KeyCorp also issued estimates for Netflix’s Q4 2021 earnings at $0.76 EPS, FY2021 earnings at $10.67 EPS, FY2022 earnings at $12.46 EPS and FY2023 earnings at $15.96 EPS.

Several other brokerages also recently weighed in on NFLX. Benchmark cut their price objective on shares of Netflix from $485.00 to $470.00 and set a sell rating on the stock in a research report on Wednesday, December 15th. Credit Suisse Group set a $740.00 price objective on shares of Netflix in a research report on Wednesday, October 20th. Pivotal Research lifted their price objective on shares of Netflix from $700.00 to $750.00 and gave the company a buy rating in a research report on Wednesday, October 20th. Wells Fargo & Company lifted their price objective on shares of Netflix from $700.00 to $800.00 and gave the company an overweight rating in a research report on Wednesday, October 20th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. cut their price objective on shares of Netflix from $750.00 to $725.00 and set an overweight rating on the stock in a research report on Thursday, January 6th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-nine have issued a buy rating to the stock. According to MarketBeat.com, Netflix has a consensus rating of Buy and an average price target of $666.06.

Netflix stock opened at $525.69 on Tuesday. The firm’s 50-day moving average is $616.58 and its 200-day moving average is $590.85. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.17 and a current ratio of 1.17. Netflix has a 1 year low of $478.54 and a 1 year high of $700.99. The company has a market cap of $232.86 billion, a P/E ratio of 47.36, a PEG ratio of 1.32 and a beta of 0.82.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Monday, October 18th. The Internet television network reported $3.19 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.56 by $0.63. Netflix had a net margin of 17.64% and a return on equity of 38.03%. The company had revenue of $7.48 billion for the quarter, compared to the consensus estimate of $7.48 billion. During the same period last year, the firm posted $1.74 EPS. The company’s revenue for the quarter was up 16.3% on a year-over-year basis. As a group, sell-side analysts predict that Netflix will post 10.74 earnings per share for the current year.

In other Netflix news, COO Gregory K. Peters sold 7,329 shares of the business’s stock in a transaction on Thursday, October 21st. The shares were sold at an average price of $650.00, for a total value of $4,763,850.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Gregory K. Peters sold 7,058 shares of the business’s stock in a transaction on Wednesday, November 17th. The shares were sold at an average price of $700.00, for a total transaction of $4,940,600.00. The disclosure for this sale can be found here. Insiders have sold 30,792 shares of company stock worth $20,692,321 in the last ninety days. 3.40% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. Evermay Wealth Management LLC bought a new stake in shares of Netflix in the 2nd quarter worth about $35,000. Pacifica Partners Inc. lifted its position in Netflix by 126.7% during the 3rd quarter. Pacifica Partners Inc. now owns 68 shares of the Internet television network’s stock worth $40,000 after buying an additional 38 shares in the last quarter. Sugarloaf Wealth Management LLC lifted its position in Netflix by 58.7% during the 3rd quarter. Sugarloaf Wealth Management LLC now owns 73 shares of the Internet television network’s stock worth $45,000 after buying an additional 27 shares in the last quarter. Private Ocean LLC lifted its position in Netflix by 70.5% during the 3rd quarter. Private Ocean LLC now owns 75 shares of the Internet television network’s stock worth $46,000 after buying an additional 31 shares in the last quarter. Finally, Delos Wealth Advisors LLC acquired a new position in Netflix during the 2nd quarter valued at about $55,000. 80.41% of the stock is currently owned by institutional investors and hedge funds.

About Netflix

Netflix, Inc operates as a streaming entertainment service company. The firm 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 of streaming content to its members in the United States.

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