Netflix (NASDAQ:NFLX) Upgraded to “Outperform” at Wolfe Research

Netflix (NASDAQ:NFLX) was upgraded by research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm presently has a $1,100.00 target price on the Internet television network’s stock. Wolfe Research’s price target points to a potential upside of 12.52% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Bank of America boosted their price target on shares of Netflix from $1,000.00 to $1,175.00 and gave the stock a “buy” rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft upped their price target on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research report on Wednesday. StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a research report on Saturday, December 21st. Barclays upgraded Netflix from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $715.00 to $900.00 in a report on Wednesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $1,100.00 target price (up from $950.00) on shares of Netflix in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $1,009.29.

Netflix Trading Down 0.7 %

Shares of Netflix stock opened at $977.59 on Thursday. The firm has a 50-day simple moving average of $892.06 and a two-hundred day simple moving average of $764.95. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 1.22. Netflix has a fifty-two week low of $542.01 and a fifty-two week high of $999.00. The company has a market cap of $417.88 billion, a P/E ratio of 49.30, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.11 earnings per share. As a group, equities analysts predict that Netflix will post 23.72 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other news, Chairman Reed Hastings sold 41,601 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $758.06, for a total value of $31,536,054.06. Following the transaction, the chairman now owns 85 shares in the company, valued at approximately $64,435.10. This represents a 99.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Theodore A. Sarandos sold 1,278 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $767.05, for a total value of $980,289.90. Following the sale, the chief executive officer now owns 2,556 shares of the company’s stock, valued at approximately $1,960,579.80. The trade was a 33.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,117 shares of company stock valued at $123,913,691 over the last 90 days. 1.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Netflix

A number of institutional investors and hedge funds have recently bought and sold shares of NFLX. RPg Family Wealth Advisory LLC purchased a new position in Netflix during the 3rd quarter worth approximately $25,000. Princeton Global Asset Management LLC raised its position in Netflix by 51.6% in the 4th quarter. Princeton Global Asset Management LLC now owns 47 shares of the Internet television network’s stock valued at $42,000 after purchasing an additional 16 shares during the last quarter. E Fund Management Hong Kong Co. Ltd. grew its position in Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the last quarter. Decker Retirement Planning Inc. acquired a new position in Netflix in the fourth quarter valued at $43,000. Finally, EMC Capital Management purchased a new stake in shares of Netflix in the fourth quarter valued at about $45,000. 80.93% of the stock is owned by hedge funds and other institutional investors.

About Netflix

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.