Netflix (NASDAQ:NFLX) Given Outperform Rating at Wedbush

Wedbush restated their outperform rating on shares of Netflix (NASDAQ:NFLX) in a report published on Monday,RTT News reports. They currently have a $1,200.00 target price on the Internet television network’s stock.

Several other brokerages have also recently commented on NFLX. Oppenheimer reiterated an “outperform” rating and issued a $1,200.00 target price (up from $1,150.00) on shares of Netflix in a report on Friday, April 18th. Rosenblatt Securities upped their price target on shares of Netflix from $1,494.00 to $1,514.00 and gave the company a “buy” rating in a report on Monday, April 21st. KeyCorp increased their price target on shares of Netflix from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Monday, April 21st. JPMorgan Chase & Co. raised their target price on Netflix from $1,025.00 to $1,150.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Finally, Sanford C. Bernstein raised Netflix from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $975.00 to $1,200.00 in a research note on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Netflix presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,084.91.

Netflix Stock Performance

Shares of NFLX opened at $1,134.06 on Monday. Netflix has a 52-week low of $580.25 and a 52-week high of $1,159.44. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.56. The firm has a market cap of $482.62 billion, a price-to-earnings ratio of 57.19, a PEG ratio of 2.12 and a beta of 1.55. The business’s 50 day moving average is $971.22 and its two-hundred day moving average is $923.56.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 17th. The Internet television network reported $6.61 earnings per share for the quarter, beating the consensus estimate of $5.74 by $0.87. Netflix had a return on equity of 38.32% and a net margin of 22.34%. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.51 billion. During the same period in the previous year, the company earned $8.28 earnings per share. Analysts forecast that Netflix will post 24.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Strive Masiyiwa sold 2,813 shares of the company’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $1,007.87, for a total transaction of $2,835,138.31. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Spencer Adam Neumann sold 2,601 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $1,132.38, for a total value of $2,945,320.38. Following the completion of the transaction, the chief financial officer now owns 3,691 shares in the company, valued at approximately $4,179,614.58. The trade was a 41.34 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 137,451 shares of company stock worth $142,194,072. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in Netflix by 109,524.3% during the 1st quarter. GAMMA Investing LLC now owns 8,835,722 shares of the Internet television network’s stock valued at $8,239,576,000 after purchasing an additional 8,827,662 shares during the last quarter. Norges Bank bought a new stake in Netflix during the fourth quarter worth $5,019,087,000. Proficio Capital Partners LLC raised its position in Netflix by 123,836.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,925,977 shares of the Internet television network’s stock valued at $1,716,662,000 after buying an additional 1,924,423 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Netflix by 59.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,301,098 shares of the Internet television network’s stock valued at $2,051,016,000 after acquiring an additional 856,307 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Netflix by 318.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 976,924 shares of the Internet television network’s stock worth $870,752,000 after acquiring an additional 743,724 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

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.