Netflix's (NFLX) Outperform Rating Reiterated at Wedbush

Wedbush reissued their outperform rating on shares of Netflix (NASDAQ:NFLX - Free Report) in a research report sent to investors on Friday morning,Benzinga reports. Wedbush currently has a $1,150.00 price objective on the Internet television network's stock.

NFLX has been the topic of a number of other reports. 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, January 22nd. Canaccord Genuity Group upgraded Netflix from a "hold" rating to a "buy" rating and boosted their target price for the stock from $940.00 to $1,150.00 in a report on Wednesday, January 22nd. Guggenheim reaffirmed a "buy" rating and issued a $1,100.00 price target on shares of Netflix in a report on Thursday, April 3rd. Wolfe Research raised Netflix from a "peer perform" rating to an "outperform" rating and set a $1,100.00 price objective on the stock in a research note on Thursday, January 23rd. Finally, Robert W. Baird upped their target price on Netflix from $875.00 to $1,200.00 and gave the company an "outperform" rating in a report on Wednesday, January 22nd. Ten investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $1,021.31.

Remove Ads

Netflix Price Performance

NFLX stock traded up $50.54 during trading on Friday, hitting $981.82. The stock had a trading volume of 5,965,971 shares, compared to its average volume of 3,701,147. The company's 50-day moving average price is $958.50 and its two-hundred day moving average price is $887.03. Netflix has a twelve month low of $542.01 and a twelve month high of $1,064.50. The stock has a market capitalization of $419.98 billion, a P/E ratio of 49.51, a PEG ratio of 2.12 and a beta of 1.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.22.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings results on Tuesday, January 21st. The Internet television network reported $4.27 EPS for the quarter, topping the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to analysts' expectations of $10.14 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% on a year-over-year basis. During the same period in the previous year, the business earned $2.11 earnings per share. As a group, research analysts predict that Netflix will post 24.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Netflix news, CFO Spencer Adam Neumann sold 2,601 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the transaction, the chief financial officer now directly owns 3,691 shares of the company's stock, valued at approximately $3,402,068.52. This trade represents a 41.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Reed Hastings sold 25,360 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $921.15, for a total transaction of $23,360,364.00. Following the completion of the sale, the chairman now directly owns 394 shares of the company's stock, valued at $362,933.10. The trade was a 98.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 274,312 shares of company stock worth $267,919,297 in the last quarter. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Several large investors have recently modified their holdings of the stock. Pathway Financial Advisers LLC raised its holdings in Netflix by 82.4% during the fourth quarter. Pathway Financial Advisers LLC now owns 31 shares of the Internet television network's stock worth $27,000 after purchasing an additional 14 shares in the last quarter. Brown Shipley& Co Ltd acquired a new stake in shares of Netflix in the 4th quarter valued at approximately $27,000. Transce3nd LLC purchased a new stake in shares of Netflix in the fourth quarter valued at approximately $32,000. Newton One Investments LLC acquired a new position in Netflix during the fourth quarter worth $34,000. Finally, Pineridge Advisors LLC grew its holdings in Netflix by 4,000.0% during the fourth quarter. Pineridge Advisors LLC now owns 41 shares of the Internet television network's stock worth $37,000 after acquiring 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.