Wedbush Reaffirms Outperform Rating for Netflix (NASDAQ:NFLX)

Wedbush reissued their outperform rating on shares of Netflix (NASDAQ:NFLX) in a research note released on Monday, Benzinga reports. The firm currently has a $725.00 price target on the Internet television network’s stock.

Several other equities analysts have also commented on the company. Sanford C. Bernstein raised their price target on Netflix from $490.00 to $600.00 and gave the company a market perform rating in a research note on Friday, April 19th. Evercore ISI raised their price target on Netflix from $640.00 to $650.00 and gave the company an outperform rating in a research note on Friday, April 19th. Canaccord Genuity Group restated a hold rating and set a $585.00 price target (down previously from $720.00) on shares of Netflix in a research note on Friday, April 19th. CICC Research started coverage on Netflix in a research note on Thursday, May 2nd. They set an outperform rating and a $650.00 price target on the stock. Finally, Redburn Atlantic raised their price target on Netflix from $550.00 to $610.00 and gave the company a buy rating in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $630.53.

Netflix Stock Performance

NASDAQ:NFLX opened at $635.67 on Monday. The stock’s fifty day moving average is $606.78 and its 200 day moving average is $547.45. Netflix has a fifty-two week low of $344.73 and a fifty-two week high of $650.88. The firm has a market capitalization of $273.97 billion, a PE ratio of 44.11, a PEG ratio of 1.41 and a beta of 1.23. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07.

Netflix (NASDAQ:NFLX) last released its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The business had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. During the same quarter last year, the firm posted $2.88 earnings per share. The business’s revenue was up 14.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Netflix will post 18.31 earnings per share for the current year.

Insiders Place Their Bets

In other news, Chairman Reed Hastings sold 20,566 shares of the stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the transaction, the chairman now owns 28 shares in the company, valued at approximately $17,091.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the transaction, the chairman now owns 28 shares in the company, valued at approximately $17,091.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Anne M. Sweeney sold 633 shares of the firm’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $560.00, for a total value of $354,480.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,039 shares of company stock worth $46,401,083. Corporate insiders own 1.76% of the company’s stock.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently modified their holdings of the business. Authentikos Wealth Advisory LLC purchased a new stake in Netflix during the third quarter worth approximately $25,000. Spartan Planning & Wealth Management purchased a new stake in Netflix during the third quarter worth approximately $26,000. Valued Wealth Advisors LLC increased its position in Netflix by 80.0% during the first quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after buying an additional 20 shares during the period. VitalStone Financial LLC increased its position in Netflix by 933.3% during the fourth quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after buying an additional 56 shares during the period. Finally, Beaird Harris Wealth Management LLC increased its position in Netflix by 1,550.0% during the fourth quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after buying an additional 62 shares during the period. 80.93% of the stock is 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.