Netflix (NFLX) Given New $125.00 Price Target at Wedbush

Netflix (NASDAQ:NFLX) had its price target hoisted by analysts at Wedbush from $110.00 to $125.00 in a report issued on Tuesday. Wedbush’s price target indicates a potential downside of 59.39% from the company’s previous close.

Other equities analysts have also issued reports about the stock. Cowen reiterated a “buy” rating and issued a $325.00 price target (up from $275.00) on shares of Netflix in a research note on Wednesday, April 11th. Piper Jaffray raised their target price on shares of Netflix from $360.00 to $367.00 in a research report on Tuesday. Loop Capital raised their target price on shares of Netflix from $325.00 to $330.00 in a research report on Tuesday. Canaccord Genuity restated a “buy” rating and set a $350.00 target price (up from $280.00) on shares of Netflix in a research report on Tuesday. Finally, Pivotal Research restated a “buy” rating and set a $420.00 target price on shares of Netflix in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, thirty-four have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $283.04.

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Shares of Netflix stock opened at $307.78 on Tuesday. The company has a market capitalization of $135,240.03, a price-to-earnings ratio of 246.22, a P/E/G ratio of 4.27 and a beta of 0.99. Netflix has a 52 week low of $138.66 and a 52 week high of $333.98. The company has a debt-to-equity ratio of 1.81, a quick ratio of 1.40 and a current ratio of 1.40.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Monday, April 16th. The Internet television network reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. The company had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.69 billion. Netflix had a net margin of 4.78% and a return on equity of 17.20%. The firm’s revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. analysts anticipate that Netflix will post 2.74 EPS for the current fiscal year.

In other news, Director A George Battle sold 10,716 shares of Netflix stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $258.49, for a total transaction of $2,769,978.84. Following the completion of the transaction, the director now owns 2,575 shares of the company’s stock, valued at approximately $665,611.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Richard N. Barton sold 700 shares of Netflix stock in a transaction on Thursday, April 5th. The stock was sold at an average price of $283.39, for a total value of $198,373.00. Following the transaction, the director now directly owns 7,393 shares of the company’s stock, valued at approximately $2,095,102.27. The disclosure for this sale can be found here. Insiders have sold a total of 442,200 shares of company stock valued at $119,779,880 in the last ninety days. Corporate insiders own 4.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its position in Netflix by 103.9% during the 4th quarter. SG Americas Securities LLC now owns 25,426 shares of the Internet television network’s stock worth $4,881,000 after purchasing an additional 675,267 shares in the last quarter. Tybourne Capital Management HK Ltd. increased its position in Netflix by 43.4% during the 4th quarter. Tybourne Capital Management HK Ltd. now owns 1,673,200 shares of the Internet television network’s stock worth $321,187,000 after purchasing an additional 506,700 shares in the last quarter. Wells Fargo & Company MN increased its position in Netflix by 22.5% during the 4th quarter. Wells Fargo & Company MN now owns 1,934,754 shares of the Internet television network’s stock worth $371,396,000 after purchasing an additional 354,801 shares in the last quarter. Technology Crossover Management VIII Ltd. increased its position in Netflix by 40.5% during the 4th quarter. Technology Crossover Management VIII Ltd. now owns 900,000 shares of the Internet television network’s stock worth $172,764,000 after purchasing an additional 259,566 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Netflix during the 4th quarter worth about $45,695,000. 81.65% of the stock is owned by institutional investors and hedge funds.

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About Netflix

Netflix, Inc, an Internet television network, engages in the Internet delivery of television (TV) shows and movies on various Internet-connected screens. It operates in three segments: Domestic Streaming, International Streaming, and Domestic DVD. The company offers TV shows and movies, including original series, documentaries, and feature films.

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