Netflix’s (NFLX) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reissued their outperform rating on shares of Netflix (NASDAQ:NFLX) in a research note published on Monday,RTT News reports. The brokerage currently has a $950.00 price objective on the Internet television network’s stock, up from their prior price objective of $800.00.

A number of other equities analysts have also commented on the company. The Goldman Sachs Group set a $750.00 price target on Netflix in a report on Friday, October 18th. Loop Capital raised their price target on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Macquarie reaffirmed an “outperform” rating and issued a $795.00 price target on shares of Netflix in a report on Friday, October 18th. Needham & Company LLC raised their price target on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Evercore ISI raised their price target on Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $753.45.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $847.05 on Monday. The stock has a fifty day simple moving average of $739.20 and a two-hundred day simple moving average of $683.35. Netflix has a 1-year low of $445.73 and a 1-year high of $848.45. The firm has a market cap of $362.08 billion, a price-to-earnings ratio of 47.94, a price-to-earnings-growth ratio of 1.59 and a beta of 1.25. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm had revenue of $9.82 billion during the quarter, compared to analyst estimates of $9.77 billion. Analysts anticipate that Netflix will post 19.78 earnings per share for the current year.

Insider Buying and Selling

In related news, insider David A. Hyman sold 267 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total value of $204,433.89. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Timothy M. Haley sold 647 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $800.19, for a total value of $517,722.93. The disclosure for this sale can be found here. Insiders have sold 185,277 shares of company stock valued at $132,875,601 over the last ninety days. 1.76% of the stock is owned by insiders.

Institutional Trading of Netflix

Several large investors have recently bought and sold shares of the company. Rehmann Capital Advisory Group boosted its position in Netflix by 4.7% during the 3rd quarter. Rehmann Capital Advisory Group now owns 2,743 shares of the Internet television network’s stock valued at $1,946,000 after acquiring an additional 123 shares in the last quarter. TD Private Client Wealth LLC boosted its position in Netflix by 3.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 3,921 shares of the Internet television network’s stock valued at $2,781,000 after acquiring an additional 121 shares in the last quarter. Hobbs Group Advisors LLC boosted its position in Netflix by 1,283.3% during the 3rd quarter. Hobbs Group Advisors LLC now owns 83 shares of the Internet television network’s stock valued at $59,000 after acquiring an additional 77 shares in the last quarter. Fortem Financial Group LLC boosted its position in Netflix by 5.8% during the 3rd quarter. Fortem Financial Group LLC now owns 380 shares of the Internet television network’s stock valued at $270,000 after acquiring an additional 21 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its position in Netflix by 29.3% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 119,366 shares of the Internet television network’s stock valued at $84,663,000 after acquiring an additional 27,052 shares in the last quarter. 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.