Netflix (NFLX) PT Set at $93.00 by Wedbush

Netflix (NASDAQ:NFLX) received a $93.00 price target from equities research analysts at Wedbush in a research report issued to clients and investors on Friday. The brokerage presently has a “sell” rating on the Internet television network’s stock. Wedbush’s price target points to a potential downside of 57.79% from the company’s current price.

NFLX has been the subject of a number of other research reports. Stifel Nicolaus lifted their target price on Netflix from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, October 12th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $225.00 target price (up previously from $210.00) on shares of Netflix in a report on Friday, October 13th. Vetr raised Netflix from a “hold” rating to a “buy” rating and set a $210.19 target price for the company in a report on Thursday, October 19th. BidaskClub downgraded Netflix from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Finally, Loop Capital lifted their target price on Netflix from $237.00 to $241.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirty-five have assigned a buy rating to the stock. Netflix currently has an average rating of “Buy” and an average price target of $211.91.

Shares of Netflix (NFLX) opened at $220.33 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 1.47. Netflix has a twelve month low of $137.03 and a twelve month high of $226.07. The company has a market capitalization of $95,340.00, a PE ratio of 222.56, a P/E/G ratio of 3.54 and a beta of 1.34.

Netflix (NASDAQ:NFLX) last released its earnings results on Monday, October 16th. The Internet television network reported $0.29 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by ($0.03). Netflix had a return on equity of 14.56% and a net margin of 4.04%. The firm had revenue of $2.99 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period last year, the firm earned $0.12 EPS. The company’s revenue for the quarter was up 30.3% compared to the same quarter last year. analysts expect that Netflix will post 1.25 EPS for the current fiscal year.

In related news, CEO Reed Hastings sold 91,861 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $189.03, for a total transaction of $17,364,484.83. Following the completion of the sale, the chief executive officer now directly owns 91,861 shares in the company, valued at $17,364,484.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jonathan Friedland sold 972 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $225.12, for a total value of $218,816.64. Following the sale, the insider now owns 972 shares of the company’s stock, valued at $218,816.64. The disclosure for this sale can be found here. Insiders sold 341,551 shares of company stock valued at $66,457,350 over the last 90 days. Company insiders own 4.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new stake in shares of Netflix during the second quarter worth approximately $1,045,000. Lincoln National Corp increased its position in shares of Netflix by 7.0% during the third quarter. Lincoln National Corp now owns 4,094 shares of the Internet television network’s stock worth $742,000 after purchasing an additional 268 shares in the last quarter. BB&T Corp increased its position in shares of Netflix by 20.0% during the third quarter. BB&T Corp now owns 3,857 shares of the Internet television network’s stock worth $700,000 after purchasing an additional 642 shares in the last quarter. Mizuho Securities USA LLC purchased a new stake in shares of Netflix during the third quarter worth approximately $9,793,000. Finally, AGF Investments Inc. purchased a new stake in shares of Netflix during the third quarter worth approximately $60,036,000. Hedge funds and other institutional investors own 83.27% of the company’s stock.

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About Netflix

Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.

Analyst Recommendations for Netflix (NASDAQ:NFLX)

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