Netflix (NASDAQ:NFLX) Given New $1,200.00 Price Target at Wedbush

Netflix (NASDAQ:NFLX) had its price target increased by Wedbush from $1,150.00 to $1,200.00 in a report issued on Monday morning, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the Internet television network’s stock.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. increased their price target on Netflix from $1,025.00 to $1,150.00 and gave the stock an “overweight” rating in a report on Monday. StockNews.com cut shares of Netflix from a “buy” rating to a “hold” rating in a report on Tuesday, February 4th. Argus upped their price objective on shares of Netflix from $840.00 to $1,040.00 and gave the company a “buy” rating in a report on Monday, January 6th. Guggenheim restated a “buy” rating and issued a $1,150.00 target price (up from $1,100.00) on shares of Netflix in a research note on Friday. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $1,200.00 price target (up from $1,175.00) on shares of Netflix in a research note on Friday. Nine 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $1,070.65.

Netflix Stock Performance

Shares of NFLX stock opened at $987.91 on Monday. The stock has a market capitalization of $422.59 billion, a PE ratio of 49.82, a PEG ratio of 2.12 and a beta of 1.55. The business’s 50 day simple moving average is $954.08 and its 200 day simple moving average is $896.26. 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 has a one year low of $542.01 and a one year high of $1,064.50.

Netflix (NASDAQ:NFLX) last announced its earnings results on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, topping analysts’ consensus estimates of $5.74 by $0.87. The business had revenue of $10.54 billion during 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 quarter last year, the firm earned $8.28 earnings per share. As a group, research analysts forecast that Netflix will post 24.58 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, Director Jay C. Hoag sold 617 shares of Netflix stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ann Mather sold 2,682 shares of the firm’s stock in a transaction dated 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. Insiders have sold a total of 274,312 shares of company stock worth $267,919,297 over the last ninety days. 1.76% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Netflix

A number of large investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in shares of Netflix by 22.7% during the 4th quarter. Nordea Investment Management AB now owns 848,150 shares of the Internet television network’s stock valued at $760,918,000 after purchasing an additional 156,958 shares during the last quarter. First National Trust Co increased its stake in Netflix by 1.0% in the 4th quarter. First National Trust Co now owns 1,258 shares of the Internet television network’s stock worth $1,121,000 after purchasing an additional 12 shares during the period. Haven Private LLC bought a new stake in Netflix in the fourth quarter valued at approximately $733,000. Sigma Planning Corp grew its holdings in shares of Netflix by 7.4% in the fourth quarter. Sigma Planning Corp now owns 5,572 shares of the Internet television network’s stock worth $4,966,000 after purchasing an additional 386 shares during the last quarter. Finally, Quilter Plc grew its holdings in Netflix by 8.2% in the 4th quarter. Quilter Plc now owns 143,757 shares of the Internet television network’s stock worth $128,133,000 after acquiring an additional 10,946 shares during the last quarter. 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.