Netflix (NASDAQ:NFLX) Earns “Outperform” Rating from Wedbush

Wedbush reiterated their outperform rating on shares of Netflix (NASDAQ:NFLX) in a research note published on Friday, MarketBeat Ratings reports. They currently have a $725.00 price objective 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 weighed in on the company. Robert W. Baird boosted their price target on Netflix from $500.00 to $600.00 and gave the stock an outperform rating in a research report on Wednesday, January 24th. Bank of America boosted their target price on Netflix from $585.00 to $650.00 and gave the stock a buy rating in a report on Wednesday, January 24th. Oppenheimer boosted their target price on Netflix from $615.00 to $725.00 and gave the stock an outperform rating in a report on Monday, March 11th. UBS Group boosted their target price on Netflix from $570.00 to $685.00 and gave the stock a buy rating in a report on Tuesday, February 27th. Finally, Canaccord Genuity Group lowered Netflix from a buy rating to a hold rating and decreased their target price for the stock from $720.00 to $585.00 in a report on Friday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $630.58.

Netflix Trading Down 9.1 %

NASDAQ NFLX opened at $555.04 on Friday. The stock has a market capitalization of $240.20 billion, a price-to-earnings ratio of 38.52, a PEG ratio of 1.49 and a beta of 1.22. The stock’s 50 day moving average price is $605.65 and its two-hundred day moving average price is $514.99. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. Netflix has a 52 week low of $315.62 and a 52 week high of $639.00.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.51 by $0.77. The firm had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.28 billion. Netflix had a return on equity of 29.46% and a net margin of 18.42%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.88 EPS. As a group, analysts anticipate that Netflix will post 17.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Netflix news, insider David A. Hyman sold 47,574 shares of the company’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the transaction, the insider now owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Netflix news, Chairman Reed Hastings sold 20,566 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $610.42, for a total value of $12,553,897.72. Following the completion of the transaction, the chairman now owns 28 shares of the company’s stock, valued at approximately $17,091.76. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David A. Hyman sold 47,574 shares of the company’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $17,003,651.20. The disclosure for this sale can be found here. Insiders sold a total of 268,335 shares of company stock valued at $151,619,811 in the last 90 days. Corporate insiders own 2.45% of the company’s stock.

Hedge Funds Weigh In On Netflix

Institutional investors and hedge funds have recently bought and sold shares of the company. Fairfield Bush & CO. increased its stake in shares of Netflix by 26.5% in the first 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 during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Netflix by 21.3% in the first 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 during the period. Sequoia Financial Advisors LLC increased its stake in shares of Netflix by 14.2% in the first 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 during the period. Candriam Luxembourg S.C.A. increased its stake in shares of Netflix by 6.9% in the first 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 during the period. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Netflix by 13.1% in the first 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 during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

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.