Netflix (NASDAQ:NFLX) Given New $417.00 Price Target at Wolfe Research

Netflix (NASDAQ:NFLX – Get Rating) had its price target hoisted by investment analysts at Wolfe Research from $366.00 to $417.00 in a research report issued to clients and investors on Friday, The Fly reports. The firm currently has an “outperform” rating on the Internet television network’s stock. Wolfe Research’s price target indicates a potential upside of 21.75% from the stock’s previous close.

Other analysts have also issued reports about the stock. Truist Financial upped their target price on shares of Netflix from $210.00 to $339.00 and gave the stock a “hold” rating in a research note on Tuesday, January 17th. Benchmark increased their price target on shares of Netflix from $157.00 to $162.00 and gave the company a “sell” rating in a research note on Wednesday, October 19th. Pivotal Research upgraded shares of Netflix from a “sell” rating to a “buy” rating and increased their price target for the company from $200.00 to $375.00 in a research note on Wednesday, October 26th. Robert W. Baird increased their price target on shares of Netflix from $240.00 to $275.00 in a research note on Wednesday, October 19th. Finally, Bank of America reiterated a “buy” rating and issued a $370.00 price target on shares of Netflix in a research note on Tuesday, November 15th. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $338.47.

Netflix Stock Up 8.5 %

Shares of NFLX opened at $342.50 on Friday. The stock has a market capitalization of $152.42 billion, a PE ratio of 30.69, a P/E/G ratio of 3.69 and a beta of 1.27. Netflix has a 1 year low of $162.71 and a 1 year high of $458.48. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.14 and a current ratio of 1.14. The company’s 50-day simple moving average is $304.91 and its 200-day simple moving average is $259.68.

Netflix (NASDAQ:NFLX – Get Rating) last issued its quarterly earnings results on Thursday, January 19th. The Internet television network reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.30). The business had revenue of $7.85 billion for the quarter, compared to analyst estimates of $7.85 billion. Netflix had a return on equity of 27.64% and a net margin of 16.03%. The firm’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $1.33 EPS. Analysts forecast that Netflix will post 10.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Netflix

Hedge funds and other institutional investors have recently bought and sold shares of the business. Country Club Bank GFN lifted its holdings in Netflix by 8.2% in the third quarter. Country Club Bank GFN now owns 5,945 shares of the Internet television network’s stock valued at $1,425,000 after acquiring an additional 451 shares during the period. Bridgewater Associates LP raised its stake in shares of Netflix by 3,001.6% during the 2nd quarter. Bridgewater Associates LP now owns 124,840 shares of the Internet television network’s stock worth $21,831,000 after buying an additional 120,815 shares during the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of Netflix by 37.6% during the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 4,811 shares of the Internet television network’s stock worth $1,132,000 after buying an additional 1,314 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA acquired a new position in shares of Netflix during the 2nd quarter worth $302,000. Finally, United Asset Strategies Inc. acquired a new position in shares of Netflix during the 3rd quarter worth $208,000. Institutional investors and hedge funds own 77.26% of the company’s stock.

About Netflix

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Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.