Wedbush Reaffirms Outperform Rating for Netflix (NASDAQ:NFLX)

Netflix (NASDAQ:NFLX)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wedbush in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $725.00 price target on the Internet television network’s stock. Wedbush’s target price suggests a potential upside of 26.16% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. UBS Group increased their price objective on shares of Netflix from $570.00 to $685.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group increased their price objective on shares of Netflix from $500.00 to $565.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. KeyCorp lifted their price target on Netflix from $580.00 to $705.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Bank of America lifted their price target on Netflix from $585.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Finally, StockNews.com upgraded Netflix from a “hold” rating to a “buy” rating in a report on Monday, February 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $628.76.

Netflix Stock Down 5.9 %

NFLX stock traded down $35.91 during trading hours on Friday, reaching $574.65. 5,598,317 shares of the stock were exchanged, compared to its average volume of 4,296,902. The firm’s 50-day moving average is $605.77 and its 200-day moving average is $511.86. The company has a market cap of $248.69 billion, a price-to-earnings ratio of 47.41, a PEG ratio of 1.65 and a beta of 1.22. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. Netflix has a 12 month low of $315.62 and a 12 month high of $639.00.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The company’s revenue was up 14.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.88 EPS. On average, equities research analysts expect that Netflix will post 17.05 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the sale, the chief executive officer now owns 1,278 shares in the company, valued at approximately $717,379.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the sale, the chief executive officer now owns 1,278 shares in the company, valued at approximately $717,379.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider David A. Hyman sold 47,574 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the sale, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 268,335 shares of company stock worth $151,619,811. Insiders own 2.45% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Columbia Trust Co 01012016 grew its position in shares of Netflix by 15.3% during the 4th quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock valued at $762,000 after acquiring an additional 208 shares during the period. Crumly & Associates Inc. grew its position in shares of Netflix by 4.1% during the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock valued at $1,025,000 after acquiring an additional 83 shares during the period. Venture Visionary Partners LLC boosted its holdings in Netflix by 15.4% in the 4th quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock worth $4,795,000 after buying an additional 1,318 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Netflix by 142.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock worth $252,085,000 after buying an additional 392,427 shares during the period. Finally, Sandy Cove Advisors LLC boosted its holdings in Netflix by 10.6% in the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock worth $578,000 after buying an additional 114 shares during the period. 80.93% of the stock is owned by 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.