Netflix (NASDAQ:NFLX) Upgraded to “Outperform” at Wolfe Research

Netflix (NASDAQ:NFLX) was upgraded by equities research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued on Thursday,Benzinga reports. The firm presently has a $1,100.00 price target on the Internet television network’s stock. Wolfe Research’s price objective suggests a potential upside of 15.31% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on the stock. Loop Capital raised their price objective on shares of Netflix from $925.00 to $1,000.00 and gave the company a “hold” rating in a research report on Wednesday. UBS Group boosted their price objective on shares of Netflix from $1,040.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Wednesday. Wedbush reiterated an “outperform” rating and issued a $1,150.00 price objective (up from $950.00) on shares of Netflix in a research report on Wednesday. Jefferies Financial Group boosted their target price on Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Wells Fargo & Company raised their price target on Netflix from $758.00 to $797.00 and gave the company an “overweight” rating in a report on Friday, October 18th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $996.94.

Netflix Stock Up 9.7 %

Shares of NFLX opened at $953.99 on Thursday. The company has a market capitalization of $407.79 billion, a P/E ratio of 48.11, a PEG ratio of 1.41 and a beta of 1.27. Netflix has a one year low of $481.40 and a one year high of $999.00. The business’s 50 day simple moving average is $889.11 and its 200-day simple moving average is $763.41. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

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, beating the consensus estimate of $4.20 by $0.07. The firm had revenue of $10.25 billion during the quarter, compared to the consensus estimate of $10,141,900 billion. Netflix had a return on equity of 39.48% and a net margin of 22.34%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.11 EPS. As a group, sell-side analysts predict that Netflix will post 23.43 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Richard N. Barton sold 6,364 shares of the stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the completion of the transaction, the director now owns 246 shares in the company, valued at approximately $216,327.48. This represents a 96.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $896.60, for a total transaction of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares of the company’s stock, valued at approximately $102,212.40. This trade represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,198 shares of company stock worth $127,616,898. Corporate insiders own 1.76% of the company’s stock.

Hedge Funds Weigh In On Netflix

Large investors have recently modified their holdings of the business. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix in the third quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. increased its position in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after purchasing an additional 42 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Netflix during the 3rd quarter worth approximately $37,000. FSA Wealth Management LLC bought a new stake in shares of Netflix during the 3rd quarter worth approximately $38,000. Finally, First Personal Financial Services acquired a new stake in shares of Netflix in the 3rd quarter valued at approximately $40,000. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.