Netflix’s (NFLX) Outperform Rating Reiterated at Wedbush

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

NFLX has been the subject of several other research reports. Jefferies Financial Group reaffirmed a buy rating and set a $655.00 price objective on shares of Netflix in a research note on Wednesday, May 15th. CICC Research assumed coverage on shares of Netflix in a research note on Thursday, May 2nd. They issued an outperform rating and a $650.00 price target for the company. Barclays increased their price target on shares of Netflix from $475.00 to $550.00 and gave the company an equal weight rating in a research note on Tuesday, April 9th. Guggenheim increased their price target on shares of Netflix from $600.00 to $700.00 and gave the company a buy rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. increased their price target on shares of Netflix from $610.00 to $650.00 and gave the company an overweight rating in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $630.53.

Netflix Stock Down 1.6 %

NFLX opened at $640.47 on Monday. Netflix has a twelve month low of $344.73 and a twelve month high of $650.88. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $606.33 and a 200 day moving average price of $546.83. The company has a market cap of $276.04 billion, a PE ratio of 44.45, a price-to-earnings-growth ratio of 1.55 and a beta of 1.23.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same quarter in the prior year, the company earned $2.88 EPS. Netflix’s revenue was up 14.8% compared to the same quarter last year. Sell-side analysts expect that Netflix will post 18.31 earnings per share for the current fiscal year.

Insider Activity at Netflix

In other Netflix news, Director Ann Mather sold 3,673 shares of Netflix stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $2,203,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Netflix news, Director Ann Mather sold 3,673 shares of Netflix stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $2,203,800.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider David A. Hyman sold 268 shares of Netflix stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $593.62, for a total transaction of $159,090.16. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $18,764,328.20. The disclosure for this sale can be found here. Insiders sold a total of 78,039 shares of company stock valued at $46,401,083 over the last ninety days. Insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Netflix by 0.4% during the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after buying an additional 149,341 shares in the last quarter. Capital World Investors boosted its holdings in Netflix by 0.7% during the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock worth $5,718,265,000 after buying an additional 78,320 shares in the last quarter. Jennison Associates LLC boosted its holdings in Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after buying an additional 929,193 shares in the last quarter. Norges Bank purchased a new stake in Netflix during the fourth quarter worth about $2,558,598,000. Finally, Northern Trust Corp boosted its holdings in Netflix by 2.1% during the third 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 in the last quarter. 80.93% of the stock is currently 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.