Netflix (NASDAQ:NFLX)Wedbush’s stock restated its “underperforming” rating in a research note released on Friday, reports RTT News. They currently have a target price of $342.00 on shares of the Internet Television Network. Wedbush’s price target would suggest a potential decline of 13.96% from the stock’s previous close. Wedbush also released estimates for Netflix Q1 2022 earnings at $3.21 EPS, Q2 2022 earnings at $3.49 EPS, Q3 2022 earnings at $3.39 EPS, Q4 2022 earnings at $3.51 EPS, FY2022 earnings at $13.61 EPS, Q1 2023 earnings at $3.71 EPS, Q2 2023 earnings at $3.94 EPS, Q3 2023 earnings at $3.84 EPS, Q4 2023 earnings at $3.97 EPS and FY2023 earnings at $15.46 EPS.
Several other equity research analysts have also recently weighed in on NFLX. Canaccord Genuity Group lowered its target price on Netflix from $750.00 to $600.00 and set a “buy” rating for the company in a report on Friday. Evercore ISI upgraded Netflix from an “outperform” rating to an “in-line” rating and lowered its target price for the company from $710.00 to $525.00 in a report released Friday. Bank of America lowered its target price on Netflix from $750.00 to $605.00 and set a “buy” rating for the company in a report on Friday. UBS Group lowered its target price on Netflix from $690.00 to $575.00 and set a “buy” rating for the company in a report on Friday. Finally, Pivotal Research lowered its target price on Netflix from $750.00 to $550.00 and set a “buy” rating for the company in a report on Friday. Three investment analysts gave the stock a sell rating, sixteen gave the company a hold rating and twenty-three gave the company a buy rating. According to MarketBeat, Netflix has a consensus rating of “Hold” and a consensus price target of $567.70.
The NASDAQ NFLX traded at $110.75 during Friday’s trading, hitting $397.50. The company’s stock had a trading volume of 58,825,651 shares, compared to an average trading volume of 8,932,151 shares. The stock has a market capitalization of $176.07 billion, a PE ratio of 35.81, a P/E/G ratio of 1.30 and a beta of 0.82. The company has a debt ratio of 0.97, a current ratio of 1.17 and a quick ratio of 1.17. The company has a fifty-day moving average of $605.55 and a 200-day moving average of $590.38. Netflix has a one-year minimum of $379.99 and a one-year maximum of $700.99.
Netflix Inc (NASDAQ:NFLX) last reported quarterly earnings data on Thursday, January 20. The Internet Television Network reported EPS of $1.33 for the quarter, beating the consensus estimate of $0.82 by $0.51. The company posted revenue of $7.71 billion for the quarter, versus analyst estimates of $7.71 billion. Netflix had a return on equity of 38.03% and a net margin of 17.64%. The company’s revenue increased 16.0% year over year. During the same period of the previous year, the company achieved EPS of $1.19. Research analysts expect Netflix to post earnings per share of 10.7 for the current fiscal year.
In related news, director Jay C. Hoag sold 2,472 shares of Netflix in a trade on Wednesday, November 17. The stock was sold at an average price of $700.19, for a total transaction of $1,730,869.68. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, COO Gregory K. Peters sold 6,721 shares of Netflix in a trade on Monday, October 25. The shares were sold at an average price of $675.00, for a total value of $4,536,675.00. The disclosure of this sale can be found here. Insiders sold 23,463 shares of the company valued at $15,928,471 in the past ninety days. 2.68% of the shares are currently held by insiders.
Several institutional investors have recently changed their positions in the company. Vanguard Group Inc. raised its position in Netflix shares by 0.3% in the second quarter. Vanguard Group Inc. now owns 33,372,371 shares of the internet television network valued at $17,627,620,000 after acquiring an additional 113,836 shares last quarter. Capital International Investors increased its position in Netflix shares by 13.7% in the second quarter. Capital International Investors now owns 19,206,004 shares of the internet television network valued at $10,144,956,000 after acquiring an additional 2,319,459 shares last quarter. State Street Corp increased its position in Netflix shares by 1.7% in the second quarter. State Street Corp now owns 16,112,594 shares of the internet television network valued at $8,510,833,000 after acquiring an additional 269,856 shares last quarter. Capital World Investors raised its position in Netflix shares by 0.3% in the third quarter. Capital World Investors now owns 13,217,696 shares of the internet television network valued at $8,067,201,000 after acquiring 36,951 additional shares last quarter. Finally, Geode Capital Management LLC increased its position in Netflix shares by 1.6% in the third quarter. Geode Capital Management LLC now owns 6,982,851 shares of the internet television network valued at $4,249,134,000 after acquiring an additional 108,782 shares last quarter. Institutional investors and hedge funds hold 80.41% of the company’s shares.
Netflix Company Profile
Netflix, Inc operates as a streaming entertainment service company. The company offers a subscription service for streaming movies and TV episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives its revenue from monthly membership fees for the services of streaming content to its members in the United States.
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