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

Netflix (NASDAQ:NFLX)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research report issued on Wednesday,RTT News reports. They presently have a $1,150.00 target price on the Internet television network’s stock, up from their previous target price of $950.00. Wedbush’s target price points to a potential upside of 20.55% from the company’s current price.

A number of other equities research analysts also recently commented on NFLX. Piper Sandler reaffirmed an “overweight” rating and issued a $1,100.00 target price (up previously from $950.00) on shares of Netflix in a research report on Wednesday. Sanford C. Bernstein upped their target price on shares of Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Citigroup increased their price objective on shares of Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a report on Thursday, December 5th. Evercore ISI increased their price objective on shares of Netflix from $950.00 to $1,100.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Pivotal Research increased their price target on shares of Netflix from $1,100.00 to $1,250.00 and gave the company a “buy” rating in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $993.82.

Netflix Stock Performance

Netflix stock traded up $84.31 during trading on Wednesday, hitting $953.99. The stock had a trading volume of 14,248,412 shares, compared to its average volume of 4,571,301. Netflix has a 1 year low of $481.40 and a 1 year high of $999.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average is $886.64 and its two-hundred day moving average is $762.07. The stock has a market cap of $407.79 billion, a price-to-earnings ratio of 53.99, a price-to-earnings-growth ratio of 1.40 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.20 by $0.07. The company had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.11 earnings per share. As a group, analysts predict that Netflix will post 19.76 EPS for the current year.

Insider Activity

In other Netflix news, Director Timothy M. Haley sold 11,090 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $757.96, for a total transaction of $8,405,776.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Theodore A. Sarandos sold 1,278 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $767.05, for a total transaction of $980,289.90. Following the transaction, the chief executive officer now directly owns 2,556 shares of the company’s stock, valued at $1,960,579.80. This trade represents a 33.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,198 shares of company stock valued at $127,616,898. 1.76% of the stock is currently owned by insiders.

Institutional Trading of Netflix

Several institutional investors have recently added to or reduced their stakes in the company. RPg Family Wealth Advisory LLC purchased a new position in Netflix during the third quarter valued at approximately $25,000. E Fund Management Hong Kong Co. Ltd. increased its holdings in Netflix by 700.0% during the third 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. Decker Retirement Planning Inc. purchased a new position in Netflix during the fourth quarter valued at approximately $43,000. MidAtlantic Capital Management Inc. purchased a new position in Netflix during the third quarter valued at approximately $37,000. Finally, FSA Wealth Management LLC purchased a new position in Netflix during the third quarter valued at approximately $38,000. 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.