Wedbush Raises Netflix (NASDAQ:NFLX) Price Target to $775.00

Netflix (NASDAQ:NFLX) had its price objective upped by Wedbush from $725.00 to $775.00 in a report published on Thursday, MarketBeat Ratings reports. The firm currently has an overweight rating on the Internet television network’s stock. Wedbush also issued estimates for Netflix’s Q3 2024 earnings at $5.16 EPS, Q3 2025 earnings at $6.07 EPS, Q1 2026 earnings at $6.84 EPS and Q3 2026 earnings at $7.13 EPS.

Several other analysts also recently weighed in on the company. Piper Sandler upgraded Netflix from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $650.00 to $800.00 in a research report on Monday, October 7th. TD Cowen lifted their price target on shares of Netflix from $775.00 to $820.00 and gave the company a “buy” rating in a report on Monday, October 7th. Guggenheim raised their target price on shares of Netflix from $735.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Argus upped their price target on shares of Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a report on Tuesday, July 2nd. Finally, StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $747.70.

Netflix Stock Performance

Shares of NASDAQ:NFLX opened at $763.89 on Thursday. Netflix has a 12-month low of $392.26 and a 12-month high of $766.28. The company’s 50 day moving average price is $696.38 and its two-hundred day moving average price is $654.94. The firm has a market cap of $329.24 billion, a PE ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating the consensus estimate of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the previous year, the company earned $3.29 EPS. Equities research analysts predict that Netflix will post 19.08 earnings per share for the current year.

Insider Activity

In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the sale, the chairman now owns 57 shares in the company, valued at approximately $35,991.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Netflix news, Chairman Reed Hastings sold 25,599 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the sale, the chairman now directly owns 57 shares of the company’s stock, valued at approximately $35,991.51. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 1,278 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $614.44, for a total value of $785,254.32. Following the completion of the transaction, the chief executive officer now owns 13,090 shares in the company, valued at $8,043,019.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,167 shares of company stock worth $150,492,460 in the last three months. Company insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Netflix by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock valued at $22,220,936,000 after acquiring an additional 149,341 shares during the period. Jennison Associates LLC raised its position in shares of Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock valued at $3,875,655,000 after purchasing an additional 929,193 shares during the period. Baillie Gifford & Co. raised its position in shares of Netflix by 2.3% in the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock valued at $3,213,825,000 after purchasing an additional 106,756 shares during the period. Legal & General Group Plc boosted its holdings in Netflix by 3.1% in the 2nd quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after buying an additional 104,332 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Netflix by 2.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after buying an additional 83,762 shares in 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.