Netflix (NASDAQ:NFLX) Earns “Outperform” Rating from Wedbush

Wedbush restated their outperform rating on shares of Netflix (NASDAQ:NFLXFree Report) in a report released on Monday morning, Benzinga reports. The brokerage currently has a $725.00 price objective on the Internet television network’s stock.

Several other equities research analysts have also recently commented on NFLX. Canaccord Genuity Group cut shares of Netflix from a buy rating to a hold rating and dropped their price target for the stock from $720.00 to $585.00 in a research report on Friday, April 19th. Oppenheimer reiterated an outperform rating and issued a $725.00 price target on shares of Netflix in a research report on Friday, April 19th. Rosenblatt Securities boosted their price objective on Netflix from $540.00 to $554.00 and gave the stock a neutral rating in a report on Friday, May 17th. Morgan Stanley boosted their price objective on Netflix from $600.00 to $700.00 and gave the stock an overweight rating in a report on Friday, April 12th. Finally, StockNews.com upgraded Netflix from a hold rating to a buy rating in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $630.53.

Get Our Latest Analysis on NFLX

Netflix Stock Performance

NFLX stock opened at $640.47 on Monday. The company has a market capitalization of $276.04 billion, a P/E ratio of 44.45, a PEG ratio of 1.55 and a beta of 1.23. The company has a 50-day simple moving average of $606.33 and a 200 day simple moving average of $546.83. Netflix has a fifty-two week low of $344.73 and a fifty-two week high of $650.88. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLXGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the prior year, the company posted $2.88 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. Sell-side analysts predict that Netflix will post 18.31 earnings per share for the current fiscal year.

Insider Transactions at Netflix

In other news, Director Ann Mather sold 3,673 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total transaction of $2,203,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Spencer Adam Neumann sold 564 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $613.08, for a total value of $345,777.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ann Mather sold 3,673 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $2,203,800.00. The disclosure for this sale can be found here. Insiders sold a total of 78,039 shares of company stock worth $46,401,083 over the last three months. 1.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Norges Bank acquired a new position in Netflix during the fourth quarter worth $2,558,598,000. Wellington Management Group LLP grew its holdings in shares of Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after purchasing an additional 3,273,592 shares during the last quarter. GQG Partners LLC bought a new stake in shares of Netflix during the first quarter worth $1,450,476,000. International Assets Investment Management LLC grew its holdings in shares of Netflix by 15,039.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after purchasing an additional 2,061,859 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of Netflix by 40.6% during the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after purchasing an additional 1,573,978 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors and hedge funds.

About Netflix

(Get Free Report)

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

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