Wedbush Reaffirms “Sell” Rating for Netflix (NFLX)

Netflix (NASDAQ:NFLX)‘s stock had its “sell” rating restated by analysts at Wedbush in a research report issued on Monday. They presently have a $150.00 price objective on the Internet television network’s stock. Wedbush’s price target would suggest a potential downside of 57.70% from the company’s previous close.

A number of other analysts have also recently commented on NFLX. SunTrust Banks set a $410.00 target price on shares of Netflix and gave the company a “buy” rating in a report on Monday, September 17th. Guggenheim boosted their target price on shares of Netflix from $360.00 to $420.00 and gave the company a “buy” rating in a report on Wednesday, September 19th. Robert W. Baird restated a “neutral” rating and set a $370.00 target price on shares of Netflix in a report on Monday, September 24th. Macquarie set a $388.00 target price on shares of Netflix and gave the company a “buy” rating in a report on Wednesday, September 26th. Finally, Credit Suisse Group restated a “buy” rating and set a $470.00 target price on shares of Netflix in a report on Monday, October 1st. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $365.16.

Shares of NFLX stock traded up $21.64 during mid-day trading on Monday, reaching $354.58. 428,527 shares of the company’s stock traded hands, compared to its average volume of 12,943,320. Netflix has a 12 month low of $216.32 and a 12 month high of $423.21. The stock has a market cap of $147.22 billion, a PE ratio of 283.84, a price-to-earnings-growth ratio of 2.77 and a beta of 1.12. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 1.66.

Netflix (NASDAQ:NFLX) last announced its earnings results on Tuesday, October 16th. The Internet television network reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.21. Netflix had a net margin of 8.48% and a return on equity of 29.52%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter in the previous year, the business posted $0.29 EPS. The company’s quarterly revenue was up 34.0% on a year-over-year basis. On average, sell-side analysts forecast that Netflix will post 2.63 earnings per share for the current fiscal year.

In other Netflix news, CEO Reed Hastings sold 63,147 shares of the business’s stock in a transaction dated Monday, December 24th. The stock was sold at an average price of $241.12, for a total value of $15,226,004.64. Following the completion of the transaction, the chief executive officer now owns 63,147 shares of the company’s stock, valued at approximately $15,226,004.64. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kelly Bennett sold 14,000 shares of the business’s stock in a transaction dated Wednesday, October 31st. The stock was sold at an average price of $300.00, for a total value of $4,200,000.00. Following the completion of the transaction, the insider now directly owns 1,057 shares of the company’s stock, valued at approximately $317,100. The disclosure for this sale can be found here. In the last three months, insiders sold 266,782 shares of company stock valued at $76,829,648. 4.29% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of NFLX. Vanguard Group Inc. increased its position in shares of Netflix by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 30,143,430 shares of the Internet television network’s stock valued at $11,277,562,000 after purchasing an additional 249,147 shares during the last quarter. Vanguard Group Inc increased its position in shares of Netflix by 0.8% during the 3rd quarter. Vanguard Group Inc now owns 30,143,430 shares of the Internet television network’s stock valued at $11,277,562,000 after purchasing an additional 249,147 shares during the last quarter. FMR LLC increased its position in shares of Netflix by 6.1% during the 2nd quarter. FMR LLC now owns 26,511,408 shares of the Internet television network’s stock valued at $10,377,360,000 after purchasing an additional 1,534,290 shares during the last quarter. Capital World Investors grew its stake in shares of Netflix by 4.6% during the 3rd quarter. Capital World Investors now owns 10,188,305 shares of the Internet television network’s stock valued at $3,811,751,000 after acquiring an additional 443,510 shares during the period. Finally, Jennison Associates LLC grew its stake in shares of Netflix by 3.9% during the 3rd quarter. Jennison Associates LLC now owns 8,806,550 shares of the Internet television network’s stock valued at $3,294,795,000 after acquiring an additional 328,527 shares during the period. 73.97% of the stock is owned by institutional investors and hedge funds.

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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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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