Netflix’s (NFLX) “Outperform” Rating Reaffirmed at Wedbush

Netflix (NASDAQ:NFLX)‘s stock had its “outperform” rating reiterated by equities researchers at Wedbush in a research note issued to investors on Wednesday,RTT News reports. They presently have a $1,150.00 target price on the Internet television network’s stock, up from their previous target price of $950.00. Wedbush’s price target would indicate a potential upside of 20.55% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. Guggenheim upped their target price on shares of Netflix from $950.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday. KeyCorp increased their price objective on shares of Netflix from $1,000.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research report on Wednesday. Sanford C. Bernstein increased their price objective on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group increased their price objective on shares of Netflix from $850.00 to $960.00 and gave the company a “neutral” rating in a research report on Wednesday. Nine investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $993.82.

Netflix Trading Up 9.7 %

Shares of NFLX stock traded up $84.31 during trading hours on Wednesday, hitting $953.99. The company had a trading volume of 14,248,412 shares, compared to its average volume of 4,571,301. The company’s fifty day moving average is $886.64 and its 200 day moving average is $762.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13. Netflix has a fifty-two week low of $481.40 and a fifty-two week high of $999.00. The stock has a market capitalization of $407.79 billion, a PE ratio of 53.99, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 20.70% and a return on equity of 35.86%. The firm had revenue of $10.25 billion for the quarter, compared to analyst estimates of $10,141,900 billion. During the same period in the prior year, the business posted $2.11 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. Research analysts expect that Netflix will post 19.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Netflix news, Chairman Reed Hastings sold 48,363 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the sale, the chairman now owns 114 shares in the company, valued at approximately $102,212.40. The trade was a 99.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Theodore A. Sarandos sold 1,278 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total value of $980,289.90. Following the completion of the transaction, the chief executive officer now owns 2,556 shares in the company, valued at $1,960,579.80. This represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 152,198 shares of company stock valued at $127,616,898 over the last 90 days. 1.76% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Mayflower Financial Advisors LLC raised its position in Netflix by 60.1% during the fourth quarter. Mayflower Financial Advisors LLC now owns 988 shares of the Internet television network’s stock valued at $881,000 after acquiring an additional 371 shares in the last quarter. BSW Wealth Partners raised its position in shares of Netflix by 6.5% in the fourth quarter. BSW Wealth Partners now owns 1,562 shares of the Internet television network’s stock valued at $1,392,000 after purchasing an additional 96 shares during the period. Bensler LLC raised its position in shares of Netflix by 2.3% in the fourth quarter. Bensler LLC now owns 16,267 shares of the Internet television network’s stock valued at $14,499,000 after purchasing an additional 372 shares during the period. Patriot Financial Group Insurance Agency LLC raised its position in shares of Netflix by 3.6% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,510 shares of the Internet television network’s stock valued at $1,346,000 after purchasing an additional 53 shares during the period. Finally, Aspire Capital Advisors LLC bought a new position in shares of Netflix in the fourth quarter valued at approximately $213,000. Institutional investors own 80.93% of the company’s stock.

Netflix Company Profile

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.