Netflix’s (NFLX) Outperform Rating Reiterated at Wedbush

Netflix (NASDAQ:NFLX)‘s stock had its “outperform” rating reissued by equities researchers at Wedbush in a note issued to investors on Monday,RTT News reports. They presently have a $950.00 target price on the Internet television network’s stock, up from their prior target price of $800.00. Wedbush’s price objective would indicate a potential upside of 12.15% from the stock’s current price.

Several other equities research analysts also recently commented on NFLX. China Renaissance started coverage on shares of Netflix in a research report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price target for the company. Benchmark reaffirmed a “sell” rating and issued a $545.00 target price on shares of Netflix in a research report on Tuesday, October 15th. BMO Capital Markets reissued an “outperform” rating and set a $825.00 price target (up from $770.00) on shares of Netflix in a research report on Friday, October 18th. Jefferies Financial Group raised their price objective on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Piper Sandler restated an “overweight” rating and set a $840.00 price target (up from $800.00) on shares of Netflix in a report on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $753.45.

Netflix Price Performance

Shares of NFLX stock traded up $23.09 during midday trading on Monday, reaching $847.05. 4,078,214 shares of the company were exchanged, compared to its average volume of 3,661,235. The company’s 50 day moving average price is $735.77 and its two-hundred day moving average price is $681.37. The company has a market cap of $362.08 billion, a P/E ratio of 47.94, a PEG ratio of 1.59 and a beta of 1.25. Netflix has a 12 month low of $445.73 and a 12 month high of $848.45. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.09 by $0.31. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. On average, sell-side analysts expect that Netflix will post 19.78 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, Chairman Reed Hastings sold 25,074 shares of Netflix stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $680.92, for a total value of $17,073,388.08. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at $57,878.20. The trade was a 99.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Timothy M. Haley sold 647 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $800.19, for a total transaction of $517,722.93. The disclosure for this sale can be found here. Over the last three months, insiders sold 205,084 shares of company stock worth $146,747,101. 1.76% of the stock is currently owned by insiders.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently bought and sold shares of NFLX. International Assets Investment Management LLC increased its holdings in Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Netflix by 154.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,058,431 shares of the Internet television network’s stock valued at $750,713,000 after buying an additional 642,920 shares during the last quarter. Jericho Capital Asset Management L.P. bought a new position in Netflix during the 1st quarter valued at $372,293,000. State Street Corp boosted its holdings in Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Finally, Swedbank AB bought a new stake in shares of Netflix in the 1st quarter worth $216,538,000. 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.