Netflix (NASDAQ:NFLX) Price Target Increased to $725.00 by Analysts at Wedbush

Netflix (NASDAQ:NFLX) had its price objective increased by Wedbush from $615.00 to $725.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an outperform rating on the Internet television network’s stock.

A number of other analysts have also weighed in on the company. TD Cowen increased their price objective on Netflix from $565.00 to $600.00 and gave the company an outperform rating in a research note on Wednesday, January 24th. Benchmark raised their price target on Netflix from $350.00 to $425.00 and gave the stock a sell rating in a research note on Friday, January 19th. Piper Sandler raised their price target on Netflix from $475.00 to $550.00 and gave the stock a neutral rating in a research note on Wednesday, January 24th. Pivotal Research raised their price target on Netflix from $600.00 to $700.00 and gave the stock a buy rating in a research note on Wednesday, January 24th. Finally, Guggenheim increased their price objective on Netflix from $500.00 to $600.00 and gave the stock a buy rating in a report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $583.18.

Netflix Stock Down 1.0 %

Shares of NFLX opened at $607.33 on Wednesday. The firm has a market cap of $262.83 billion, a P/E ratio of 50.57, a P/E/G ratio of 1.66 and a beta of 1.22. The stock has a 50 day simple moving average of $584.25 and a two-hundred day simple moving average of $488.53. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.12 and a quick ratio of 1.12. Netflix has a 1 year low of $315.62 and a 1 year high of $634.39.

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Tuesday, January 23rd. The Internet television network reported $2.11 earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($0.09). The company had revenue of $8.83 billion for the quarter, compared to analysts’ expectations of $8.72 billion. Netflix had a net margin of 16.04% and a return on equity of 24.76%. The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the company posted $0.12 EPS. On average, analysts forecast that Netflix will post 17.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Theodore A. Sarandos sold 68,957 shares of Netflix stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the sale, the chief executive officer now directly owns 1,278 shares in the company, valued at approximately $717,379.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the transaction, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at $717,379.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Reed Hastings sold 25,998 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $470.51, for a total value of $12,232,318.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 273,767 shares of company stock worth $151,298,232. 2.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. Fairfield Bush & CO. lifted its position in shares of Netflix by 26.5% during the 1st quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network’s stock valued at $916,000 after buying an additional 512 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Netflix by 21.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network’s stock valued at $179,820,000 after buying an additional 84,179 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Netflix by 14.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network’s stock valued at $1,094,000 after buying an additional 363 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of Netflix by 6.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network’s stock valued at $13,610,000 after buying an additional 2,358 shares in the last quarter. Finally, Brown Brothers Harriman & Co. lifted its position in shares of Netflix by 13.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network’s stock valued at $1,426,000 after buying an additional 441 shares in the last quarter. 80.93% of the stock is owned by hedge funds and other 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.