Netflix (NASDAQ:NFLX) Price Target Increased to $725.00 by Analysts at Wedbush

Netflix (NASDAQ:NFLX) had its target price hoisted by Wedbush from $615.00 to $725.00 in a research note released on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the Internet television network’s stock.

Several other brokerages have also commented on NFLX. Piper Sandler boosted their price target on Netflix from $475.00 to $550.00 and gave the stock a neutral rating in a research note on Wednesday, January 24th. Barclays lifted their price target on Netflix from $375.00 to $475.00 and gave the stock an equal weight rating in a research note on Wednesday, January 24th. Sanford C. Bernstein raised their target price on shares of Netflix from $390.00 to $490.00 and gave the company a market perform rating in a report on Wednesday, January 24th. Benchmark upped their price target on shares of Netflix from $350.00 to $425.00 and gave the company a sell rating in a report on Friday, January 19th. Finally, Redburn Atlantic lifted their price objective on Netflix from $550.00 to $610.00 and gave the stock a buy rating in a research report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $583.18.

Netflix Stock Performance

Shares of NFLX stock opened at $613.53 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. The stock has a 50 day simple moving average of $579.15 and a 200-day simple moving average of $486.82. The company has a market cap of $265.51 billion, a price-to-earnings ratio of 51.06, a price-to-earnings-growth ratio of 1.70 and a beta of 1.22. Netflix has a 12-month low of $315.62 and a 12-month high of $634.39.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($0.09). Netflix had a return on equity of 24.76% and a net margin of 16.04%. The business had revenue of $8.83 billion during the quarter, compared to analysts’ expectations of $8.72 billion. During the same quarter in the previous year, the company posted $0.12 EPS. The company’s revenue was up 12.5% compared to the same quarter last year. On average, equities analysts forecast that Netflix will post 17.01 EPS for the current year.

Insiders Place Their Bets

In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the transaction, 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 can be accessed through this hyperlink. In related news, CEO Theodore A. Sarandos sold 68,957 shares of Netflix stock in a transaction on Friday, February 9th. The shares were sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the sale, the chief executive officer now owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Reed Hastings sold 25,998 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $470.51, for a total transaction of $12,232,318.98. The disclosure for this sale can be found here. Insiders sold a total of 273,767 shares of company stock worth $151,298,232 over the last ninety days. 2.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netflix

Several institutional investors and hedge funds have recently made changes to their positions in NFLX. Fairfield Bush & CO. increased its position in shares of Netflix by 26.5% in the 1st quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock worth $916,000 after purchasing an additional 512 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Netflix by 21.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock valued at $179,820,000 after buying an additional 84,179 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Netflix by 14.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock worth $1,094,000 after buying an additional 363 shares during the last quarter. Candriam Luxembourg S.C.A. grew its position in shares of Netflix by 6.9% in the 1st quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock worth $13,610,000 after acquiring an additional 2,358 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Netflix by 13.1% in the 1st quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock valued at $1,426,000 after acquiring an additional 441 shares during the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

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.