Netflix (NASDAQ:NFLX) Stock Rating Reaffirmed by Wedbush

Wedbush restated their outperform rating on shares of Netflix (NASDAQ:NFLX) in a research report report published on Friday, Marketbeat.com reports. They currently have a $725.00 target price on the Internet television network’s stock. Wedbush also issued estimates for Netflix’s Q2 2024 earnings at $4.70 EPS, Q3 2024 earnings at $4.82 EPS, Q4 2024 earnings at $3.71 EPS, Q1 2025 earnings at $5.90 EPS, Q2 2025 earnings at $5.64 EPS, Q3 2025 earnings at $5.76 EPS, Q4 2025 earnings at $4.59 EPS and FY2026 earnings at $25.36 EPS.

Several other research analysts have also recently commented on the stock. Redburn Atlantic raised their target price on shares of Netflix from $550.00 to $610.00 and gave the stock a buy rating in a report on Wednesday, January 24th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Netflix from $525.00 to $550.00 and gave the stock a hold rating in a research note on Monday, April 15th. KeyCorp increased their target price on Netflix from $580.00 to $705.00 and gave the company an overweight rating in a report on Wednesday, March 20th. Wells Fargo & Company upped their price target on Netflix from $650.00 to $726.00 and gave the company an overweight rating in a research report on Friday. Finally, Sanford C. Bernstein increased their price objective on Netflix from $490.00 to $600.00 and gave the stock a market perform rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $630.58.

Netflix Stock Performance

NASDAQ:NFLX opened at $554.60 on Friday. The company has a 50-day moving average of $605.58 and a 200-day moving average of $516.27. The firm has a market cap of $238.98 billion, a price-to-earnings ratio of 38.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The company has a current ratio of 1.07, a quick ratio of 1.12 and a debt-to-equity ratio of 0.62. Netflix has a twelve month low of $315.62 and a twelve month high of $639.00.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. During the same period last year, the firm posted $2.88 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. Analysts forecast that Netflix will post 17.13 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Gregory K. Peters sold 13,655 shares of Netflix stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total transaction of $7,425,589.00. Following the sale, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at $7,118,342. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Gregory K. Peters sold 13,655 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total transaction of $7,425,589.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares of the company’s stock, valued at approximately $7,118,342. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $610.42, for a total transaction of $12,553,897.72. Following the completion of the sale, the chairman now directly owns 28 shares in the company, valued at approximately $17,091.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 268,335 shares of company stock valued at $151,619,811. Insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On Netflix

Several hedge funds and other institutional investors have recently modified their holdings of NFLX. International Assets Investment Management LLC lifted its holdings in shares of Netflix by 1.8% during the third quarter. International Assets Investment Management LLC now owns 13,710 shares of the Internet television network’s stock valued at $5,177,000 after acquiring an additional 244 shares during the period. Ronald Blue Trust Inc. boosted its position in Netflix by 12.1% in the third quarter. Ronald Blue Trust Inc. now owns 740 shares of the Internet television network’s stock valued at $279,000 after buying an additional 80 shares in the last quarter. Avidian Wealth Solutions LLC grew its stake in Netflix by 13.6% during the third quarter. Avidian Wealth Solutions LLC now owns 1,501 shares of the Internet television network’s stock worth $567,000 after buying an additional 180 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of Netflix by 1.9% during the third quarter. Ritholtz Wealth Management now owns 4,690 shares of the Internet television network’s stock worth $1,771,000 after buying an additional 89 shares in the last quarter. Finally, Janiczek Wealth Management LLC increased its holdings in shares of Netflix by 51.7% during the third quarter. Janiczek Wealth Management LLC now owns 566 shares of the Internet television network’s stock worth $214,000 after buying an additional 193 shares in the last quarter. 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.