Netflix (NASDAQ:NFLX) Given New $510.00 Price Target at Wells Fargo & Company

Netflix (NASDAQ:NFLX) had its price objective hoisted by Wells Fargo & Company from $470.00 to $510.00 in a report issued on Wednesday morning, AR Network reports. They currently have an equal weight rating on the Internet television network’s stock.

NFLX has been the subject of several other reports. Morgan Stanley lifted their price objective on shares of Netflix from $600.00 to $630.00 and gave the stock an overweight rating in a research note on Friday, October 16th. Goldman Sachs Group lifted their price objective on shares of Netflix from $600.00 to $670.00 and gave the stock a buy rating in a research note on Wednesday, October 14th. Loop Capital lifted their price objective on shares of Netflix from $500.00 to $600.00 and gave the stock a buy rating in a research note on Wednesday, July 29th. Jefferies Financial Group reiterated a buy rating and set a $585.00 price objective on shares of Netflix in a research note on Wednesday. Finally, Stifel Nicolaus restated a hold rating and set a $500.00 target price on shares of Netflix in a research report on Thursday, July 16th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-seven have given a buy rating to the company’s stock. Netflix presently has an average rating of Buy and a consensus price target of $521.65.

NASDAQ NFLX traded up $1.94 on Wednesday, hitting $490.99. The stock had a trading volume of 44,006 shares, compared to its average volume of 7,541,033. The business’s fifty day moving average price is $507.97 and its 200 day moving average price is $467.78. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.12 and a quick ratio of 1.12. Netflix has a 52-week low of $265.80 and a 52-week high of $575.37. The stock has a market cap of $215.68 billion, a price-to-earnings ratio of 82.47, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Tuesday, October 20th. The Internet television network reported $1.74 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.13 by ($0.39). Netflix had a return on equity of 33.32% and a net margin of 11.85%. The company had revenue of $6.44 billion for the quarter, compared to analyst estimates of $6.38 billion. During the same quarter in the previous year, the firm posted $1.47 earnings per share. The company’s quarterly revenue was up 22.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Netflix will post 6.28 EPS for the current year.

In other news, Director Richard N. Barton sold 4,907 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $550.00, for a total value of $2,698,850.00. Following the transaction, the director now owns 8,237 shares in the company, valued at $4,530,350. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan E. Rice sold 1,337 shares of the firm’s stock in a transaction that occurred on Wednesday, August 5th. The shares were sold at an average price of $508.68, for a total value of $680,105.16. Following the completion of the transaction, the director now owns 218 shares in the company, valued at approximately $110,892.24. The disclosure for this sale can be found here. In the last 90 days, insiders sold 332,986 shares of company stock worth $169,898,723. Company insiders own 3.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Lineweaver Wealth Advisors LLC lifted its position in Netflix by 1.9% during the third quarter. Lineweaver Wealth Advisors LLC now owns 996 shares of the Internet television network’s stock worth $498,000 after buying an additional 19 shares in the last quarter. Bedel Financial Consulting Inc. lifted its position in Netflix by 12.1% during the third quarter. Bedel Financial Consulting Inc. now owns 195 shares of the Internet television network’s stock worth $98,000 after buying an additional 21 shares in the last quarter. Strategic Advisors LLC lifted its position in Netflix by 4.0% during the second quarter. Strategic Advisors LLC now owns 576 shares of the Internet television network’s stock worth $282,000 after buying an additional 22 shares in the last quarter. Glassman Wealth Services lifted its position in Netflix by 3.3% during the second quarter. Glassman Wealth Services now owns 713 shares of the Internet television network’s stock worth $324,000 after buying an additional 23 shares in the last quarter. Finally, Halbert Hargrove Global Advisors LLC lifted its position in Netflix by 3.0% during the second quarter. Halbert Hargrove Global Advisors LLC now owns 792 shares of the Internet television network’s stock worth $360,000 after buying an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 80.63% of the company’s stock.

Netflix Company Profile

Netflix, Inc provides subscription streaming entertainment service. It offers TV series, documentaries, and feature films across various genres and languages. The company provides members the ability to receive streaming content through a host of Internet-connected screens, including TVs, digital video players, television set-top boxes, and mobile devices.

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Analyst Recommendations for Netflix (NASDAQ:NFLX)

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