Wedbush Increases Netflix (NASDAQ:NFLX) Price Target to $775.00

Netflix (NASDAQ:NFLX) had its price objective raised by research analysts at Wedbush from $725.00 to $775.00 in a report issued on Thursday, MarketBeat reports. The firm currently has an “overweight” rating on the Internet television network’s stock. Wedbush’s price objective suggests a potential upside of 1.45% from the company’s previous close. Wedbush also issued estimates for Netflix’s Q3 2024 earnings at $5.16 EPS, Q3 2025 earnings at $6.07 EPS, Q1 2026 earnings at $6.84 EPS and Q3 2026 earnings at $7.13 EPS.

NFLX has been the subject of a number of other reports. JPMorgan Chase & Co. reissued an “overweight” rating and set a $750.00 price target on shares of Netflix in a research note on Tuesday, October 8th. Piper Sandler raised shares of Netflix from a “neutral” rating to an “overweight” rating and raised their target price for the company from $650.00 to $800.00 in a report on Monday, October 7th. Morgan Stanley increased their price objective on shares of Netflix from $780.00 to $820.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Jefferies Financial Group boosted their target price on shares of Netflix from $655.00 to $780.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $700.00 price target on shares of Netflix in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $739.38.

Netflix Price Performance

NFLX stock opened at $763.89 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 0.95. The company’s fifty day moving average price is $696.38 and its 200-day moving average price is $654.66. Netflix has a one year low of $392.26 and a one year high of $766.28. The company has a market capitalization of $329.24 billion, a PE ratio of 53.01, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping the consensus estimate of $4.74 by $0.14. The business had revenue of $9.56 billion for the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.29 EPS. On average, equities analysts anticipate that Netflix will post 19.08 EPS for the current fiscal year.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $706.16, for a total value of $31,981,986.40. Following the completion of the sale, the chairman now directly owns 85 shares of the company’s stock, valued at $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, Chairman Reed Hastings sold 45,290 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $706.16, for a total transaction of $31,981,986.40. Following the completion of the sale, the chairman now owns 85 shares in the company, valued at $60,023.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now owns 35,262 shares in the company, valued at $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 225,167 shares of company stock worth $150,492,460 over the last three months. 1.76% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. DigitalBridge Group Inc. grew its holdings in Netflix by 35.5% in the second quarter. DigitalBridge Group Inc. now owns 36,063 shares of the Internet television network’s stock worth $24,338,000 after purchasing an additional 9,451 shares during the last quarter. M&G Plc purchased a new position in Netflix during the 1st quarter worth $9,682,000. BSN CAPITAL PARTNERS Ltd increased its position in Netflix by 24.4% during the 1st quarter. BSN CAPITAL PARTNERS Ltd now owns 250,000 shares of the Internet television network’s stock valued at $155,185,000 after buying an additional 49,000 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in Netflix by 58.2% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 82,931 shares of the Internet television network’s stock valued at $55,968,000 after buying an additional 30,511 shares during the last quarter. Finally, First Trust Direct Indexing L.P. boosted its holdings in Netflix by 14.9% in the first quarter. First Trust Direct Indexing L.P. now owns 10,330 shares of the Internet television network’s stock worth $6,274,000 after acquiring an additional 1,342 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

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.