Netflix (NASDAQ:NFLX) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Netflix (NASDAQ:NFLXFree Report) from a peer perform rating to an outperform rating in a report issued on Thursday, MarketBeat.com reports. Wolfe Research currently has $1,100.00 price target on the Internet television network’s stock.

Several other analysts have also issued reports on the stock. UBS Group boosted their price target on shares of Netflix from $1,040.00 to $1,150.00 and gave the company a “buy” rating in a research report on Wednesday. Rosenblatt Securities upgraded Netflix from a “neutral” rating to a “buy” rating and increased their target price for the stock from $680.00 to $1,494.00 in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price target on Netflix from $650.00 to $875.00 and gave the company a “hold” rating in a research report on Wednesday. Citigroup boosted their price objective on Netflix from $725.00 to $920.00 and gave the company a “neutral” rating in a research note on Thursday, December 5th. Finally, Jefferies Financial Group lifted their target price on Netflix from $780.00 to $800.00 and gave the company a “buy” rating in a report on Friday, October 18th. Nine analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,021.70.

View Our Latest Report on Netflix

Netflix Trading Down 0.7 %

Shares of Netflix stock opened at $977.59 on Thursday. The stock has a fifty day moving average price of $895.13 and a 200-day moving average price of $766.98. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.22 and a quick ratio of 1.13. The firm has a market cap of $417.88 billion, a PE ratio of 49.30, a P/E/G ratio of 1.53 and a beta of 1.27. Netflix has a 1 year low of $542.01 and a 1 year high of $999.00.

Netflix (NASDAQ:NFLXGet Free Report) last released its earnings results on Tuesday, January 21st. The Internet television network reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $4.20 by $0.07. The firm had revenue of $10.25 billion for the quarter, compared to analysts’ expectations of $10,141,900 billion. Netflix had a net margin of 22.34% and a return on equity of 38.32%. The company’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period in the previous year, the company earned $2.11 earnings per share. Equities research analysts anticipate that Netflix will post 23.72 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jay C. Hoag sold 617 shares of Netflix stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $979.71, for a total value of $604,481.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Reed Hastings sold 48,363 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $896.60, for a total value of $43,362,265.80. Following the completion of the transaction, the chairman now directly owns 114 shares in the company, valued at approximately $102,212.40. This represents a 99.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,117 shares of company stock valued at $123,913,691. Company insiders own 1.76% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in Netflix by 2.6% in the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network’s stock worth $12,023,082,000 after purchasing an additional 426,740 shares during the period. Geode Capital Management LLC increased its position in Netflix by 1.4% in the third quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network’s stock worth $6,464,736,000 after buying an additional 123,029 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Netflix by 4.7% in the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network’s stock worth $4,958,417,000 after buying an additional 316,594 shares during the period. International Assets Investment Management LLC lifted its position in shares of Netflix by 116,620.0% during the 3rd quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network’s stock valued at $4,080,522,000 after buying an additional 5,748,200 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Netflix by 0.5% in the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network’s stock worth $3,473,571,000 after acquiring an additional 23,702 shares in the last quarter. 80.93% of the stock is currently owned by institutional investors.

About Netflix

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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.

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