Netflix Gets Price Target Bumps By Analysts After Q4 Results

Netflix Inc NFLX reported downbeat earnings for the fourth quarter, while sales topped expectations.

Netflix added 7.7 million paid subscribers during the quarter, which was well ahead of company expectations of 4.5 million.
The company’s co-founder Reed Hastings stepped down as the chief executive and will be serving as Executive Chairman.

Netflix shares gained 7% to trade at $337.76 on Friday.

These analysts made changes to their price targets on Netflix following the release of results.

• Wolfe Research boosted the price target on Netflix from $366 to $417. Wolfe Research analyst Peter Supino maintained an Outperform rating on the stock.
• Evercore ISI Group raised the price target from $340 to $400. Evercore ISI Group analyst Mark Mahaney maintained the stock with an Outperform rating.
• Jefferies increased the price target on the stock from $385 to $400. Jefferies analyst Andrew Uerkwitz maintained the stock with a Buy.
• Piper Sandler raised the price target on Netflix from $270 to $325. Piper Sandler analyst Thomas Champion maintained the stock with a Neutral.
• Morgan Stanley increased the price target on Netflix from $300 to $350. Morgan Stanley analyst Benjamin Swinburne maintained the stock with an Equal-Weight.
• Credit Suisse increased the price target on Netflix from $271 to $291. Credit Suisse analyst Douglas Mitchelson maintained the stock with a Neutral.
• JP Morgan boosted the price target on Netflix from $330 to $390. JP Morgan analyst Doug Anmuth maintained the stock with an Overweight rating.
• Baird raised the price target on Netflix from $275 to $325. Baird analyst William Power maintained the stock with a Neutral rating.
• Barclays boosted the price target on Netflix from $235 to $250. Barclays analyst Kannan Venkateshwar maintained the stock with an Equal-Weight rating.
• Rosenblatt increased the price target on Netflix from $226 to $343. Rosenblatt analyst Barton Crockett maintained the stock with a Neutral rating.
• Oppenheimer boosted the price target on Netflix from $400 to $415. Oppenheimer analyst Jason Helfstein maintained the stock with an Outperform rating.
• Benchmark raised the price target on Netflix from $225 to $250. Benchmark analyst Matthew Harrigan maintained the stock with a Sell rating.
• Guggenheim raised the price target on Netflix from $305 to $375. Guggenheim analyst Michael Morris maintained the stock with a Buy rating.
• Canaccord Genuity boosted the price target on Netflix from $365 to $400. Canaccord Genuity analyst Maria Ripps maintained the stock with a Buy rating.

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