Wedbush Raises Netflix (NASDAQ:NFLX) Price Target to $1,200.00

Netflix (NASDAQ:NFLX - Get Free Report) had its price target raised by Wedbush from $1,150.00 to $1,200.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "outperform" rating on the Internet television network's stock. Wedbush's price objective points to a potential upside of 19.64% from the stock's previous close.

NFLX has been the topic of a number of other research reports. Morgan Stanley upped their price target on Netflix from $1,150.00 to $1,200.00 and gave the stock an "overweight" rating in a report on Monday. Pivotal Research reissued a "buy" rating and issued a $1,350.00 target price (up previously from $1,250.00) on shares of Netflix in a report on Thursday. Needham & Company LLC reiterated a "buy" rating and issued a $1,126.00 price objective on shares of Netflix in a research report on Thursday. Bank of America lifted their target price 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. Finally, Evercore ISI raised their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 22nd. Nine investment 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. According to data from MarketBeat.com, Netflix has a consensus rating of "Moderate Buy" and an average target price of $1,067.71.

Netflix Stock Performance

Shares of NFLX stock traded up $29.95 during mid-day trading on Monday, hitting $1,002.98. 4,839,342 shares of the stock were exchanged, compared to its average volume of 3,678,321. The stock's fifty day simple moving average is $954.87 and its two-hundred day simple moving average is $894.38. The stock has a market capitalization of $429.03 billion, a price-to-earnings ratio of 50.58, a P/E/G ratio of 2.12 and a beta of 1.55. 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 has a 12-month low of $542.01 and a 12-month high of $1,064.50.

Netflix (NASDAQ:NFLX - Get Free Report) last issued its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.74 by $0.87. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.51 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. During the same period last year, the firm posted $8.28 EPS. On average, analysts forecast that Netflix will post 24.58 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Reed Hastings sold 25,360 shares of Netflix stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $921.15, for a total value of $23,360,364.00. Following the transaction, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $921.72, for a total transaction of $2,397,393.72. Following the sale, the chief financial officer now directly owns 3,691 shares of the company's stock, valued at approximately $3,402,068.52. The trade was a 41.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 274,312 shares of company stock valued at $267,919,297. 1.76% of the stock is currently owned by corporate insiders.

Institutional Trading of Netflix

A number of institutional investors and hedge funds have recently modified their holdings of the business. West Michigan Advisors LLC increased its position in shares of Netflix by 1.3% during the 4th quarter. West Michigan Advisors LLC now owns 776 shares of the Internet television network's stock valued at $692,000 after purchasing an additional 10 shares during the last quarter. Warwick Investment Management Inc. raised its position in Netflix by 3.5% in the fourth quarter. Warwick Investment Management Inc. now owns 298 shares of the Internet television network's stock worth $266,000 after acquiring an additional 10 shares during the period. MRP Capital Investments LLC grew its position in shares of Netflix by 1.0% during the 4th quarter. MRP Capital Investments LLC now owns 1,052 shares of the Internet television network's stock valued at $938,000 after acquiring an additional 10 shares during the period. Bedell Frazier Investment Counselling LLC raised its stake in shares of Netflix by 2.2% in the fourth quarter. Bedell Frazier Investment Counselling LLC now owns 462 shares of the Internet television network's stock valued at $412,000 after buying an additional 10 shares during the period. Finally, Mission Creek Capital Partners Inc. boosted its position in Netflix by 0.3% during the fourth quarter. Mission Creek Capital Partners Inc. now owns 3,826 shares of the Internet television network's stock worth $3,410,000 after purchasing an additional 10 shares during the period. 80.93% of the stock is owned by hedge funds and other institutional investors.

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.

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