Netflix’s (NFLX) Outperform Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Netflix (NASDAQ:NFLX) in a research note published on Friday,Benzinga reports. The brokerage currently has a $1,150.00 price target on the Internet television network’s stock.

A number of other brokerages also recently issued reports on NFLX. Arete Research raised Netflix to a “hold” rating in a report on Thursday, January 23rd. Pivotal Research upped their target price on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Robert W. Baird raised their price target on shares of Netflix from $875.00 to $1,200.00 and gave the company an “outperform” rating in a report on Wednesday, January 22nd. Morgan Stanley boosted their price objective on shares of Netflix from $1,050.00 to $1,150.00 and gave the company an “overweight” rating in a report on Wednesday, January 22nd. Finally, Argus raised their target price on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Ten research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $1,017.31.

Netflix Stock Down 0.3 %

Shares of Netflix stock opened at $918.29 on Friday. The company has a 50-day simple moving average of $960.09 and a two-hundred day simple moving average of $885.47. The stock has a market capitalization of $392.80 billion, a PE ratio of 46.31, a price-to-earnings-growth ratio of 2.12 and a beta of 1.55. Netflix has a 52-week low of $542.01 and a 52-week high of $1,064.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.22 and a current ratio of 1.22.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion during the quarter, compared to analyst estimates of $10.14 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same period in the previous year, the business earned $2.11 EPS. On average, analysts anticipate that Netflix will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Reed Hastings sold 25,360 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the transaction, the chairman now directly owns 394 shares of the company’s stock, valued at approximately $362,933.10. This represents a 98.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 2,682 shares of Netflix stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $973.00, for a total value of $2,609,586.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 274,312 shares of company stock worth $267,919,297. 1.76% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Netflix

Hedge funds have recently bought and sold shares of the business. Brown Shipley& Co Ltd bought a new stake in shares of Netflix in the 4th quarter worth about $27,000. Pathway Financial Advisers LLC grew its position in Netflix by 82.4% in the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 14 shares in the last quarter. Transce3nd LLC purchased a new position in Netflix in the fourth quarter worth about $32,000. Newton One Investments LLC bought a new stake in Netflix during the fourth quarter worth approximately $34,000. Finally, Pineridge Advisors LLC raised its position in Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network’s stock valued at $37,000 after purchasing an additional 40 shares during the period. Hedge funds and other 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.