Oppenheimer Weighs in on Netflix, Inc.’s FY2024 Earnings (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLXGet Rating) – Equities researchers at Oppenheimer issued their FY2024 EPS estimates for Netflix in a note issued to investors on Monday, September 19th. Oppenheimer analyst J. Kelly expects that the Internet television network will post earnings per share of $14.34 for the year. Oppenheimer has a “Outperform” rating and a $325.00 price objective on the stock. The consensus estimate for Netflix’s current full-year earnings is $10.04 per share. Oppenheimer also issued estimates for Netflix’s FY2025 earnings at $16.95 EPS.

Netflix (NASDAQ:NFLXGet Rating) last posted its quarterly earnings data on Tuesday, July 19th. The Internet television network reported $3.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.96 by $0.24. The business had revenue of $7.97 billion for the quarter, compared to the consensus estimate of $8.03 billion. Netflix had a net margin of 16.42% and a return on equity of 30.07%. The company’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $2.97 earnings per share.

Several other equities analysts also recently weighed in on the stock. Cfra downgraded shares of Netflix from a “hold” rating to a “sell” rating and decreased their price target for the stock from $245.00 to $238.00 in a research note on Monday, August 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Netflix from $300.00 to $270.00 in a research report on Wednesday, July 20th. Barclays cut their price objective on shares of Netflix from $275.00 to $170.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 6th. Robert W. Baird cut their price objective on shares of Netflix from $260.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, July 20th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Netflix from $230.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 20th. Six research analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Netflix currently has an average rating of “Hold” and a consensus target price of $305.67.

Netflix Stock Performance

NASDAQ:NFLX opened at $242.85 on Tuesday. The company’s 50-day moving average price is $224.53 and its 200-day moving average price is $241.46. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.75. The company has a market cap of $108.00 billion, a P/E ratio of 21.59, a P/E/G ratio of 1.67 and a beta of 1.34. Netflix has a twelve month low of $162.71 and a twelve month high of $700.99.

Institutional Trading of Netflix

Several institutional investors and hedge funds have recently bought and sold shares of NFLX. Icapital Wealth LLC purchased a new stake in Netflix in the 1st quarter valued at $25,000. Gould Capital LLC acquired a new position in Netflix in the 2nd quarter valued at $26,000. Tevis Investment Management increased its stake in Netflix by 133.3% in the 2nd quarter. Tevis Investment Management now owns 175 shares of the Internet television network’s stock valued at $30,000 after buying an additional 100 shares during the period. Avondale Wealth Management increased its stake in Netflix by 483.3% in the 2nd quarter. Avondale Wealth Management now owns 175 shares of the Internet television network’s stock valued at $31,000 after buying an additional 145 shares during the period. Finally, Lloyd Advisory Services LLC. increased its stake in Netflix by 2,075.0% in the 1st quarter. Lloyd Advisory Services LLC. now owns 87 shares of the Internet television network’s stock valued at $33,000 after buying an additional 83 shares during the period. Hedge funds and other institutional investors own 75.52% of the company’s stock.

Netflix Company Profile

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

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Earnings History and Estimates for Netflix (NASDAQ:NFLX)

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