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

Wolfe Research upgraded shares of Netflix (NASDAQ:NFLX) from a peer perform rating to an outperform rating in a report issued on Thursday morning, MarketBeat reports. Wolfe Research currently has $1,100.00 price objective on the Internet television network’s stock.

Several other brokerages have also recently commented on NFLX. Citigroup boosted their price target on shares of Netflix from $725.00 to $920.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft boosted their target price on Netflix from $650.00 to $875.00 and gave the stock a “hold” rating in a research report on Wednesday. Wedbush restated an “outperform” rating and set a $1,150.00 price target (up previously from $950.00) on shares of Netflix in a report on Wednesday. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Oppenheimer raised their target price on shares of Netflix from $1,040.00 to $1,150.00 and gave the company an “outperform” rating in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Netflix currently has an average rating of “Moderate Buy” and a consensus price target of $1,021.70.

Netflix Stock Performance

NASDAQ NFLX opened at $977.59 on Thursday. The business has a 50-day moving average price of $895.13 and a 200-day moving average price of $766.98. The firm has a market cap of $417.88 billion, a price-to-earnings ratio of 49.30, a price-to-earnings-growth ratio of 1.53 and a beta of 1.27. Netflix has a twelve month low of $542.01 and a twelve month high of $999.00. The company has a quick ratio of 1.13, a current ratio of 1.22 and a debt-to-equity ratio of 0.56.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. The business had revenue of $10.25 billion during 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 firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the company posted $2.11 EPS. As a group, equities research analysts predict that Netflix will post 23.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider David A. Hyman sold 267 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at $24,202,828.70. This represents a 0.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, 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 completion of the transaction, the chairman now owns 114 shares of the company’s stock, valued at $102,212.40. This represents a 99.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,117 shares of company stock valued at $123,913,691 over the last three months. 1.76% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of NFLX. State Street Corp lifted its holdings in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock valued at $12,023,082,000 after purchasing an additional 426,740 shares during the last quarter. Geode Capital Management LLC raised its stake in Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock valued at $6,464,736,000 after buying an additional 123,029 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after acquiring an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after purchasing an additional 23,702 shares in the last quarter. Institutional investors own 80.93% of the company’s stock.

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.