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

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

Other equities analysts also recently issued research reports about the company. Needham & Company LLC boosted their target price on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Sanford C. Bernstein boosted their target price on Netflix from $625.00 to $780.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Piper Sandler restated an “overweight” rating and issued a $840.00 target price (up previously from $800.00) on shares of Netflix in a research note on Friday, October 18th. Oppenheimer boosted their target price on Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a research note on Friday, October 18th. Finally, Bank of America lifted their price target on shares of Netflix from $740.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $753.45.

Netflix Price Performance

NFLX stock opened at $871.32 on Monday. The company has a market capitalization 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 debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.13. Netflix has a 52-week low of $445.73 and a 52-week high of $874.49. The business has a 50-day simple moving average of $743.15 and a two-hundred day simple moving average of $685.41.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, October 17th. The Internet television network reported $5.40 earnings per share (EPS) for the quarter, beating 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 business had revenue of $9.82 billion during the quarter, compared to the consensus estimate of $9.77 billion. Research analysts expect that Netflix will post 19.78 EPS for the current fiscal year.

Insider Activity

In related news, Director Timothy M. Haley sold 647 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $800.19, for a total value of $517,722.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $765.67, for a total transaction of $204,433.89. Following the completion of the transaction, the insider now 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 disclosure for this sale can be found here. Insiders sold 185,277 shares of company stock worth $132,875,601 in the last three months. Corporate insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NFLX. McIlrath & Eck LLC boosted its position in Netflix by 13.8% during the third quarter. McIlrath & Eck LLC now owns 247 shares of the Internet television network’s stock valued at $175,000 after buying an additional 30 shares during the period. M&T Bank Corp boosted its position in Netflix by 4.2% during the third quarter. M&T Bank Corp now owns 41,946 shares of the Internet television network’s stock valued at $29,751,000 after buying an additional 1,684 shares during the period. Hohimer Wealth Management LLC boosted its position in Netflix by 3.6% during the third quarter. Hohimer Wealth Management LLC now owns 1,542 shares of the Internet television network’s stock valued at $1,094,000 after buying an additional 54 shares during the period. Rehmann Capital Advisory Group boosted its position in Netflix by 4.7% during the third quarter. Rehmann Capital Advisory Group now owns 2,743 shares of the Internet television network’s stock valued at $1,946,000 after buying an additional 123 shares during the period. Finally, TD Private Client Wealth LLC boosted its position in Netflix by 3.2% during the third quarter. TD Private Client Wealth LLC now owns 3,921 shares of the Internet television network’s stock valued at $2,781,000 after buying an additional 121 shares during the period. 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.