Netflix's (NFLX) "Outperform" Rating Reaffirmed at Wedbush

Netflix (NASDAQ:NFLX - Get Free Report)'s stock had its "outperform" rating reaffirmed by Wedbush in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $1,400.00 price objective on the Internet television network's stock. Wedbush's price target suggests a potential upside of 10.94% from the company's previous close.

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group raised their price objective on Netflix from $1,000.00 to $1,140.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Wells Fargo & Company lifted their price target on shares of Netflix from $1,222.00 to $1,500.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. Jefferies Financial Group raised their price objective on shares of Netflix from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a report on Tuesday, June 3rd. Wolfe Research set a $1,340.00 price target on shares of Netflix and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, Macquarie boosted their price objective on Netflix from $1,150.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday, April 21st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Netflix currently has a consensus rating of "Moderate Buy" and a consensus target price of $1,220.58.

Netflix Stock Up 1.4%

Netflix stock traded up $16.84 during trading on Monday, reaching $1,261.95. 2,774,453 shares of the company's stock were exchanged, compared to its average volume of 4,257,667. Netflix has a 52-week low of $587.04 and a 52-week high of $1,341.15. The firm has a market cap of $537.05 billion, a price-to-earnings ratio of 59.64, a PEG ratio of 2.25 and a beta of 1.59. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The company's 50-day moving average is $1,221.70 and its two-hundred day moving average is $1,050.73.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The Internet television network reported $6.61 EPS for the quarter, topping the consensus estimate of $5.74 by $0.87. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.51 billion. Netflix had a return on equity of 39.61% and a net margin of 23.07%. During the same period in the previous year, the company posted $8.28 EPS. On average, analysts predict that Netflix will post 24.58 earnings per share for the current year.

Insider Activity at Netflix

In other Netflix news, Director Jay C. Hoag sold 32,515 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $1,101.97, for a total value of $35,830,554.55. Following the completion of the sale, the director directly owned 79,040 shares in the company, valued at $87,099,708.80. This represents a 29.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Reed Hastings sold 26,977 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $1,133.05, for a total value of $30,566,289.85. Following the transaction, the director directly owned 394 shares of the company's stock, valued at approximately $446,421.70. The trade was a 98.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,723 shares of company stock worth $223,307,201 over the last ninety days. Insiders own 1.37% of the company's stock.

Institutional Investors Weigh In On Netflix

Several hedge funds and other institutional investors have recently bought and sold shares of NFLX. Fullcircle Wealth LLC raised its holdings in Netflix by 2.5% during the 1st quarter. Fullcircle Wealth LLC now owns 369 shares of the Internet television network's stock valued at $344,000 after acquiring an additional 9 shares during the period. Capital Analysts LLC lifted its position in Netflix by 0.3% during the first quarter. Capital Analysts LLC now owns 2,620 shares of the Internet television network's stock valued at $2,443,000 after purchasing an additional 9 shares during the last quarter. Enterprise Financial Services Corp increased its stake in Netflix by 1.8% in the first quarter. Enterprise Financial Services Corp now owns 505 shares of the Internet television network's stock valued at $471,000 after acquiring an additional 9 shares during the last quarter. Sunpointe LLC raised its holdings in shares of Netflix by 1.4% during the 2nd quarter. Sunpointe LLC now owns 644 shares of the Internet television network's stock valued at $862,000 after buying an additional 9 shares in the last quarter. Finally, Deane Retirement Strategies Inc. grew its position in Netflix by 0.3% during the second quarter. Deane Retirement Strategies Inc. now owns 3,440 shares of the Internet television network's stock valued at $4,604,000 after acquiring an additional 9 shares during the last quarter. 80.93% of the stock is currently owned by 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.