Netflix (NASDAQ:NFLX) had its price target cut by Wedbush from $188.00 to $173.00 in a report issued on Wednesday, MarketBeat.com reports. The firm presently has an “underperform” rating on the Internet television network’s stock. Wedbush’s target price points to a potential downside of 50.71% from the company’s current price. Wedbush also issued estimates for Netflix’s Q1 2020 earnings at $1.66 EPS, Q2 2020 earnings at $1.43 EPS, Q3 2020 earnings at $1.74 EPS, Q4 2020 earnings at $1.02 EPS, FY2020 earnings at $5.85 EPS, Q1 2021 earnings at $1.55 EPS, Q2 2021 earnings at $1.82 EPS, Q3 2021 earnings at $2.16 EPS, Q4 2021 earnings at $1.45 EPS, FY2021 earnings at $6.98 EPS and FY2022 earnings at $9.08 EPS.
NFLX has been the topic of several other reports. Guggenheim decreased their price target on shares of Netflix from $420.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Co cut shares of Netflix from a “market perform” rating to an “underperform” rating and decreased their price target for the stock from $308.00 to $265.00 in a research note on Monday, November 25th. Pivotal Research raised their price target on shares of Netflix from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Huber Research cut shares of Netflix from an “overweight” rating to an “underweight” rating in a research note on Thursday, October 17th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Netflix in a research note on Monday, December 2nd. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-six have given a buy rating to the stock. Netflix currently has a consensus rating of “Buy” and an average target price of $379.58.
Shares of Netflix stock traded up $1.40 during mid-day trading on Wednesday, hitting $351.00. 13,972,014 shares of the stock were exchanged, compared to its average volume of 5,878,778. Netflix has a twelve month low of $252.28 and a twelve month high of $385.99. The stock has a market capitalization of $153.84 billion, a price-to-earnings ratio of 84.99, a price-to-earnings-growth ratio of 1.98 and a beta of 1.28. The company has a 50-day simple moving average of $325.01 and a 200 day simple moving average of $306.73. The company has a current ratio of 0.90, a quick ratio of 0.73 and a debt-to-equity ratio of 1.95.
In other Netflix news, CEO Reed Hastings sold 54,516 shares of Netflix stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $312.04, for a total transaction of $17,011,172.64. Following the transaction, the chief executive officer now directly owns 54,516 shares of the company’s stock, valued at $17,011,172.64. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.29% of the company’s stock.
A number of hedge funds have recently made changes to their positions in NFLX. Fisher Asset Management LLC increased its stake in shares of Netflix by 142.6% in the third quarter. Fisher Asset Management LLC now owns 2,216,329 shares of the Internet television network’s stock worth $593,134,000 after buying an additional 1,302,678 shares during the last quarter. OZ Management LP bought a new stake in shares of Netflix in the second quarter worth $228,716,000. Maverick Capital Ltd. increased its stake in shares of Netflix by 695.9% in the third quarter. Maverick Capital Ltd. now owns 522,778 shares of the Internet television network’s stock worth $139,906,000 after buying an additional 457,098 shares during the last quarter. Johanson Financial Advisors Inc. increased its stake in shares of Netflix by 28,747.7% in the fourth quarter. Johanson Financial Advisors Inc. now owns 337,806 shares of the Internet television network’s stock worth $1,044,000 after buying an additional 336,635 shares during the last quarter. Finally, Voloridge Investment Management LLC bought a new stake in shares of Netflix in the third quarter worth $81,976,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.
Netflix, Inc provides Internet entertainment services. The company operates in three segments: Domestic streaming, International streaming, and Domestic DVD. 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.
Further Reading: Price to Earnings Ratio (PE) Basics
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