Netflix (NFLX) Price Target Raised to $150.00 at Wedbush

Netflix (NASDAQ:NFLX) had its price target upped by investment analysts at Wedbush from $125.00 to $150.00 in a research note issued on Wednesday, October 17th, The Fly reports. The brokerage presently has an “underperform” rating on the Internet television network’s stock. Wedbush’s price objective points to a potential downside of 50.57% from the company’s current price. Wedbush also issued estimates for Netflix’s Q4 2018 earnings at $0.30 EPS, FY2018 earnings at $2.69 EPS, Q1 2019 earnings at $0.89 EPS, Q2 2019 earnings at $0.92 EPS, Q3 2019 earnings at $0.95 EPS, Q4 2019 earnings at $0.99 EPS and FY2019 earnings at $3.75 EPS.

Several other research firms have also issued reports on NFLX. UBS Group lowered shares of Netflix from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $425.00 to $237.00 in a report on Wednesday, July 11th. Credit Suisse Group restated a “neutral” rating and set a $330.00 price target on shares of Netflix in a report on Thursday, June 21st. JPMorgan Chase & Co. restated a “buy” rating and set a $385.00 price target on shares of Netflix in a report on Wednesday, July 11th. Pivotal Research upped their target price on Netflix from $420.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, June 21st. Finally, Nomura initiated coverage on Netflix in a research note on Tuesday, July 10th. They set a “neutral” rating and a $370.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirty-one have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $378.74.

NASDAQ NFLX traded down $14.45 during trading hours on Wednesday, reaching $303.47. The company’s stock had a trading volume of 13,462,812 shares, compared to its average volume of 17,085,652. The firm has a market cap of $142.82 billion, a PE ratio of 242.78, a price-to-earnings-growth ratio of 4.15 and a beta of 1.18. Netflix has a 52 week low of $178.38 and a 52 week high of $423.21. The company has a debt-to-equity ratio of 1.66, a current ratio of 1.39 and a quick ratio of 1.39.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Tuesday, October 16th. The Internet television network reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.21. The business had revenue of $4 billion during the quarter, compared to analyst estimates of $3.99 billion. Netflix had a net margin of 8.48% and a return on equity of 29.52%. The firm’s quarterly revenue was up 34.0% on a year-over-year basis. During the same quarter last year, the business earned $0.29 EPS. As a group, research analysts anticipate that Netflix will post 2.63 earnings per share for the current fiscal year.

In related news, Director Richard N. Barton sold 387 shares of the stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $297.88, for a total transaction of $115,279.56. Following the sale, the director now directly owns 7,430 shares of the company’s stock, valued at $2,213,248.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO David B. Wells sold 1,000 shares of the stock in a transaction on Monday, November 5th. The shares were sold at an average price of $311.10, for a total value of $311,100.00. Following the sale, the chief financial officer now directly owns 1,000 shares in the company, valued at $311,100. The disclosure for this sale can be found here. Over the last three months, insiders sold 335,842 shares of company stock worth $113,900,463. Insiders own 4.29% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in NFLX. FMR LLC boosted its position in shares of Netflix by 6.1% during the second quarter. FMR LLC now owns 26,511,408 shares of the Internet television network’s stock valued at $10,377,360,000 after buying an additional 1,534,290 shares during the last quarter. SG Americas Securities LLC boosted its position in shares of Netflix by 109.2% during the third quarter. SG Americas Securities LLC now owns 89,706 shares of the Internet television network’s stock valued at $33,562,000 after buying an additional 1,063,944 shares during the last quarter. Cornerstone Wealth Management LLC boosted its position in shares of Netflix by 39,296.1% during the second quarter. Cornerstone Wealth Management LLC now owns 929,355 shares of the Internet television network’s stock valued at $2,334,000 after buying an additional 926,996 shares during the last quarter. Summit Trail Advisors LLC boosted its position in shares of Netflix by 49,540.2% during the first quarter. Summit Trail Advisors LLC now owns 907,422 shares of the Internet television network’s stock valued at $907,000 after buying an additional 905,594 shares during the last quarter. Finally, BlackRock Inc. boosted its position in shares of Netflix by 2.3% during the second quarter. BlackRock Inc. now owns 27,436,409 shares of the Internet television network’s stock valued at $10,739,434,000 after buying an additional 619,795 shares during the last quarter. 74.04% of the stock is currently owned by institutional investors.

Netflix Company Profile

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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