Netflix (NASDAQ:NFLX) Receives “Underperform” Rating from Wedbush

Wedbush restated their underperform rating on shares of Netflix (NASDAQ:NFLX) in a report issued on Wednesday, Anlyst Ratings reports. Wedbush currently has a $235.00 price objective on the Internet television network’s stock, up from their prior price objective of $220.00. Wedbush also issued estimates for Netflix’s Q1 2021 earnings at $2.03 EPS, Q2 2021 earnings at $2.17 EPS and Q3 2021 earnings at $2.11 EPS.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus reaffirmed a hold rating and set a $500.00 price target on shares of Netflix in a research note on Thursday, July 16th. Morgan Stanley raised their price target 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. Raymond James began coverage on shares of Netflix in a research note on Wednesday, September 9th. They set a market perform rating for the company. Oppenheimer increased their price objective on Netflix from $480.00 to $515.00 and gave the company an outperform rating in a report on Friday, July 17th. Finally, Needham & Company LLC reissued a sell rating on shares of Netflix in a report on Friday, July 17th. Five 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 stock. The company has a consensus rating of Buy and a consensus price target of $521.65.

Shares of NASDAQ:NFLX traded up $1.94 during midday trading on Wednesday, hitting $490.99. The company had a trading volume of 44,006 shares, compared to its average volume of 7,541,033. Netflix has a 12 month low of $265.80 and a 12 month high of $575.37. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.64. The stock has a market cap of $215.68 billion, a price-to-earnings ratio of 82.47, a PEG ratio of 2.82 and a beta of 0.95. The firm has a fifty day simple moving average of $507.97 and a 200 day simple moving average of $467.78.

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

In other Netflix news, CEO Theodore A. Sarandos sold 10,000 shares of Netflix stock in a transaction on Friday, August 7th. The shares were sold at an average price of $505.77, for a total value of $5,057,700.00. Following the completion of the sale, the chief executive officer now directly owns 524 shares of the company’s stock, valued at $265,023.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Theodore A. Sarandos sold 20,000 shares of Netflix stock in a transaction on Friday, August 14th. The shares were sold at an average price of $480.70, for a total transaction of $9,614,000.00. Following the completion of the sale, the chief executive officer now directly owns 7,112 shares of the company’s stock, valued at $3,418,738.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 332,986 shares of company stock valued at $169,898,723. Insiders own 3.40% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of NFLX. JJJ Advisors Inc. grew its holdings in shares of Netflix by 168.4% during the third quarter. JJJ Advisors Inc. now owns 51 shares of the Internet television network’s stock valued at $26,000 after buying an additional 32 shares during the last quarter. Engrave Wealth Partners LLC grew its holdings in shares of Netflix by 65.0% during the second quarter. Engrave Wealth Partners LLC now owns 66 shares of the Internet television network’s stock valued at $30,000 after buying an additional 26 shares during the last quarter. Motco grew its holdings in shares of Netflix by 57.1% during the second quarter. Motco now owns 66 shares of the Internet television network’s stock valued at $30,000 after buying an additional 24 shares during the last quarter. Newfound Research LLC acquired a new position in shares of Netflix during the third quarter valued at about $31,000. Finally, Kistler Tiffany Companies LLC grew its holdings in shares of Netflix by 688.9% during the second quarter. Kistler Tiffany Companies LLC now owns 71 shares of the Internet television network’s stock valued at $32,000 after buying an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 80.63% of the company’s stock.

About Netflix

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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