Netflix (NASDAQ:NFLX) Rating Increased to Outperform at Wolfe Research

Netflix (NASDAQ:NFLX) was upgraded by stock analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a $1,100.00 target price on the Internet television network’s stock. Wolfe Research’s price target would suggest a potential upside of 15.31% from the stock’s previous close.

A number of other analysts have also issued reports on NFLX. Bank of America increased their target price on Netflix from $1,000.00 to $1,175.00 and gave the company a “buy” rating in a report on Wednesday. Benchmark raised Netflix from a “sell” rating to a “hold” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft lifted their target price on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research note on Wednesday. Argus increased their price target on shares of Netflix from $840.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Jefferies Financial Group raised their price target on shares of Netflix from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $996.94.

Netflix Trading Up 9.7 %

NASDAQ:NFLX opened at $953.99 on Thursday. The stock has a fifty day simple moving average of $889.11 and a 200 day simple moving average of $763.41. The firm has a market capitalization of $407.79 billion, a price-to-earnings ratio of 48.11, a price-to-earnings-growth ratio of 1.41 and a beta of 1.27. Netflix has a 1-year low of $481.40 and a 1-year high of $999.00. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.62.

Netflix (NASDAQ:NFLX) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, topping the consensus estimate of $4.20 by $0.07. Netflix had a net margin of 22.34% and a return on equity of 39.48%. The business had revenue of $10.25 billion for the quarter, compared to the consensus estimate of $10,141,900 billion. During the same period last year, the firm posted $2.11 earnings per share. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. Sell-side analysts forecast that Netflix will post 23.43 earnings per share for the current year.

Insider Buying and Selling at Netflix

In other news, Director Richard N. Barton sold 6,364 shares of the business’s stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $879.38, for a total transaction of $5,596,374.32. Following the transaction, the director now owns 246 shares in the company, valued at approximately $216,327.48. The trade was a 96.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Reed Hastings sold 35,868 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the sale, the chairman now owns 114 shares of the company’s stock, valued at approximately $101,241.12. The trade was a 99.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 152,198 shares of company stock valued at $127,616,898 in the last 90 days. 1.76% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of NFLX. RPg Family Wealth Advisory LLC acquired a new stake in shares of Netflix during the 3rd quarter valued at about $25,000. E Fund Management Hong Kong Co. Ltd. lifted its position in shares of Netflix by 700.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 48 shares of the Internet television network’s stock worth $34,000 after buying an additional 42 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Netflix in the 3rd quarter valued at $37,000. FSA Wealth Management LLC bought a new stake in Netflix in the third quarter valued at $38,000. Finally, First Personal Financial Services acquired a new position in Netflix during the third quarter worth $40,000. 80.93% of the stock is owned by institutional investors.

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.