Netflix (NASDAQ:NFLX) Given Outperform Rating at Wedbush

Wedbush reaffirmed their outperform rating on shares of Netflix (NASDAQ:NFLX) in a research report released on Friday, Marketbeat Ratings reports. Wedbush currently has a $725.00 price objective on the Internet television network’s stock. Wedbush also issued estimates for Netflix’s Q2 2024 earnings at $4.70 EPS, Q3 2024 earnings at $4.82 EPS, Q4 2024 earnings at $3.71 EPS, Q1 2025 earnings at $5.90 EPS, Q2 2025 earnings at $5.64 EPS, Q3 2025 earnings at $5.76 EPS, Q4 2025 earnings at $4.59 EPS and FY2026 earnings at $25.36 EPS.

Several other research analysts have also recently commented on the company. Citigroup increased their price target on Netflix from $555.00 to $660.00 and gave the company a neutral rating in a research report on Monday, March 25th. Loop Capital increased their price target on Netflix from $585.00 to $700.00 and gave the company a buy rating in a research report on Monday, March 18th. Guggenheim increased their price target on Netflix from $600.00 to $700.00 and gave the company a buy rating in a research report on Tuesday. Redburn Atlantic increased their price target on Netflix from $550.00 to $610.00 and gave the company a buy rating in a research report on Wednesday, January 24th. Finally, Needham & Company LLC raised Netflix from a hold rating to a buy rating and set a $700.00 price target for the company in a research report on Friday. One analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $630.58.

Netflix Stock Down 9.1 %

NASDAQ:NFLX opened at $555.04 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. The company has a market cap of $240.20 billion, a PE ratio of 38.52, a PEG ratio of 1.64 and a beta of 1.22. Netflix has a 52-week low of $315.62 and a 52-week high of $639.00. The stock has a 50-day simple moving average of $605.65 and a 200 day simple moving average of $513.07.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 29.46% and a net margin of 18.42%. Netflix’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period last year, the company earned $2.88 earnings per share. On average, sell-side analysts expect that Netflix will post 17.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 47,574 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the transaction, the insider now owns 31,610 shares in the company, valued at approximately $17,003,651.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Gregory K. Peters sold 5,352 shares of Netflix stock in a transaction on Monday, March 18th. The stock was sold at an average price of $625.00, for a total value of $3,345,000.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,181,250. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider David A. Hyman sold 47,574 shares of Netflix stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at approximately $17,003,651.20. The disclosure for this sale can be found here. Insiders have sold a total of 268,335 shares of company stock worth $151,619,811 in the last 90 days. Company insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On Netflix

Hedge funds and other institutional investors have recently modified their holdings of the business. Authentikos Wealth Advisory LLC bought a new position in shares of Netflix in the 3rd quarter valued at $25,000. Spartan Planning & Wealth Management acquired a new stake in shares of Netflix during the 3rd quarter valued at $26,000. Carmel Capital Partners LLC boosted its holdings in shares of Netflix by 290.0% during the 3rd quarter. Carmel Capital Partners LLC now owns 78 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 58 shares in the last quarter. VitalStone Financial LLC boosted its holdings in shares of Netflix by 933.3% during the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock valued at $30,000 after acquiring an additional 56 shares in the last quarter. Finally, Aspect Partners LLC acquired a new stake in shares of Netflix during the 4th quarter valued at $32,000. 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.