Netflix’s (NFLX) “Outperform” Rating Reaffirmed at Wells Fargo & Co
Netflix (NASDAQ:NFLX)‘s stock had its “outperform” rating reiterated by stock analysts at Wells Fargo & Co in a note issued to investors on Monday, The Fly reports. They presently have a $250.00 target price on the Internet television network’s stock, up from their prior target price of $230.00. Wells Fargo & Co’s price objective would suggest a potential upside of 17.25% from the company’s previous close.
NFLX has been the subject of a number of other reports. BidaskClub lowered Netflix from a “buy” rating to a “hold” rating in a report on Saturday, December 2nd. Credit Suisse Group set a $224.00 price objective on Netflix and gave the stock a “neutral” rating in a report on Monday. Citigroup increased their price objective on Netflix from $180.00 to $205.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Vetr raised Netflix from a “buy” rating to a “strong-buy” rating and set a $214.83 price objective for the company in a report on Friday, December 22nd. Finally, Loop Capital increased their price objective on Netflix from $237.00 to $241.00 and gave the stock a “buy” rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, sixteen have given a hold rating and thirty-five have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $210.81.
Shares of Netflix (NASDAQ NFLX) traded up $3.91 during mid-day trading on Monday, reaching $213.22. The company had a trading volume of 3,782,511 shares, compared to its average volume of 7,387,583. Netflix has a 1-year low of $128.50 and a 1-year high of $212.98. The company has a market cap of $92,160.00, a price-to-earnings ratio of 215.37, a price-to-earnings-growth ratio of 3.41 and a beta of 1.34. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.20 and a quick ratio of 1.20.
Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Monday, October 16th. The Internet television network reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). Netflix had a return on equity of 14.56% and a net margin of 4.04%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period last year, the company earned $0.12 earnings per share. The business’s quarterly revenue was up 30.3% compared to the same quarter last year. sell-side analysts forecast that Netflix will post 1.26 EPS for the current fiscal year.
In other news, CEO Reed Hastings sold 91,861 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $189.03, for a total transaction of $17,364,484.83. Following the completion of the sale, the chief executive officer now directly owns 91,861 shares of the company’s stock, valued at approximately $17,364,484.83. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard N. Barton sold 350 shares of the firm’s stock in a transaction on Thursday, December 7th. The stock was sold at an average price of $185.71, for a total value of $64,998.50. Following the sale, the director now directly owns 7,171 shares of the company’s stock, valued at $1,331,726.41. The disclosure for this sale can be found here. Over the last three months, insiders have sold 342,107 shares of company stock valued at $66,448,896. Corporate insiders own 4.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Balentine LLC lifted its holdings in shares of Netflix by 1,020.4% in the third quarter. Balentine LLC now owns 549 shares of the Internet television network’s stock valued at $100,000 after purchasing an additional 500 shares in the last quarter. Almanack Investment Partners LLC. purchased a new stake in shares of Netflix in the second quarter valued at $101,000. Aviance Capital Management LLC purchased a new stake in shares of Netflix in the second quarter valued at $137,000. Captrust Financial Advisors purchased a new stake in shares of Netflix in the second quarter valued at $139,000. Finally, Harfst & Associates Inc. lifted its holdings in shares of Netflix by 36.8% in the second quarter. Harfst & Associates Inc. now owns 1,015 shares of the Internet television network’s stock valued at $151,000 after purchasing an additional 273 shares in the last quarter. Institutional investors own 83.27% of the company’s stock.
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Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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