Wedbush Reaffirms “Outperform” Rating for Netflix (NASDAQ:NFLX)

Netflix (NASDAQ:NFLX)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. They presently have a $950.00 price objective on the Internet television network’s stock, up from their prior price objective of $800.00. Wedbush’s price target would indicate a potential upside of 9.03% from the company’s current price.

NFLX has been the topic of a number of other research reports. Piper Sandler reissued an “overweight” rating and set a $840.00 price target (up previously from $800.00) on shares of Netflix in a research report on Friday, October 18th. Bank of America increased their price target on Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Loop Capital increased their price target on Netflix from $750.00 to $800.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Morgan Stanley increased their price target on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday, October 18th. Finally, China Renaissance initiated coverage on Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price target on the stock. Two research 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. Based on data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and an average price target of $753.45.

Netflix Price Performance

Shares of NASDAQ NFLX opened at $871.32 on Monday. The firm has a market cap of $372.45 billion, a P/E ratio of 49.31, 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 has a 1-year low of $445.73 and a 1-year high of $874.49. The business’s 50 day moving average is $743.15 and its 200-day moving average is $685.41.

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

Insider Transactions at Netflix

In other news, Director Leslie J. Kilgore sold 358 shares of Netflix stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $765.00, for a total value of $273,870.00. Following the completion of the transaction, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $26,975,430. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 267 shares of Netflix 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 completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $24,202,828.70. This trade represents a 0.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 185,277 shares of company stock valued at $132,875,601. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Large investors have recently made changes to their positions in the company. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix in the 3rd quarter valued at about $25,000. Denver PWM LLC acquired a new stake in shares of Netflix in the 2nd quarter valued at about $25,000. Proffitt & Goodson Inc. grew its stake in shares of Netflix by 380.0% in the 2nd quarter. Proffitt & Goodson Inc. now owns 48 shares of the Internet television network’s stock valued at $32,000 after buying an additional 38 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its stake in shares of Netflix by 700.0% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock valued at $34,000 after buying an additional 42 shares during the period. Finally, AlphaMark Advisors LLC grew its stake in shares of Netflix by 642.9% in the 2nd quarter. AlphaMark Advisors LLC now owns 52 shares of the Internet television network’s stock valued at $35,000 after buying an additional 45 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.