Wedbush Reiterates “Outperform” Rating for Netflix (NASDAQ:NFLX)

Wedbush reaffirmed their outperform rating on shares of Netflix (NASDAQ:NFLX) in a research report released on Friday morning, Marketbeat.com reports. Wedbush currently has a $725.00 price objective on the Internet television network’s stock. Wedbush also issued estimates for Netflix’s Q2 2024 earnings at $4.70 EPS, Q3 2024 earnings at $4.82 EPS, Q4 2024 earnings at $3.71 EPS, Q1 2025 earnings at $5.90 EPS, Q2 2025 earnings at $5.64 EPS, Q3 2025 earnings at $5.76 EPS, Q4 2025 earnings at $4.59 EPS and FY2026 earnings at $25.36 EPS.

Other analysts have also recently issued reports about the company. Rosenblatt Securities cut their price objective on Netflix from $554.00 to $540.00 and set a neutral rating on the stock in a research report on Friday. Jefferies Financial Group upped their price target on Netflix from $580.00 to $700.00 and gave the stock a buy rating in a research note on Tuesday, March 12th. StockNews.com upgraded Netflix from a hold rating to a buy rating in a report on Monday, February 26th. BMO Capital Markets restated an outperform rating and set a $713.00 target price (up previously from $638.00) on shares of Netflix in a report on Wednesday, April 17th. Finally, Macquarie upped their target price on shares of Netflix from $595.00 to $685.00 and gave the stock an outperform rating in a research report on Tuesday, April 16th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $630.58.

Netflix Price Performance

Shares of Netflix stock opened at $554.60 on Friday. The business has a 50 day moving average of $605.58 and a 200 day moving average of $516.27. Netflix has a 52 week low of $315.62 and a 52 week high of $639.00. The company has a market cap of $238.98 billion, a PE ratio of 38.49, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period last year, the company posted $2.88 EPS. As a group, equities research analysts forecast that Netflix will post 17.13 earnings per share for the current year.

Insider Activity

In related news, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction 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 completion of the sale, the chairman now owns 28 shares in the company, valued at $17,091.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Chairman Reed Hastings sold 20,566 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were 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 of the company’s stock, valued at $17,091.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at $17,575,476.10. The disclosure for this sale can be found here. Insiders have sold 268,335 shares of company stock valued at $151,619,811 in the last ninety days. 2.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Netflix

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. Capital World Investors raised its stake in Netflix by 0.7% during the 4th quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after acquiring an additional 78,320 shares during the period. Jennison Associates LLC raised its position in shares of Netflix by 40.6% during the 4th quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after purchasing an additional 1,573,978 shares during the period. Norges Bank purchased a new position in shares of Netflix during the 4th quarter valued at $2,558,598,000. Northern Trust Corp boosted its holdings in Netflix by 2.1% in the 3rd quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock worth $1,749,712,000 after buying an additional 96,938 shares during the period. Finally, Fisher Asset Management LLC boosted its holdings in Netflix by 1.9% in the 4th quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock worth $2,006,483,000 after buying an additional 78,298 shares during the period. 80.93% of the stock is currently owned by hedge funds and other institutional investors.

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.