Q1 2023 EPS Estimates for Netflix, Inc. (NASDAQ:NFLX) Lowered by Wedbush

Netflix, Inc. (NASDAQ:NFLX – Get Rating) – Wedbush cut their Q1 2023 EPS estimates for Netflix in a research report issued on Friday, January 20th. Wedbush analyst M. Pachter now anticipates that the Internet television network will earn $2.82 per share for the quarter, down from their previous estimate of $3.03. Wedbush has a “Outperform” rating and a $400.00 price target on the stock. The consensus estimate for Netflix’s current full-year earnings is $10.66 per share. Wedbush also issued estimates for Netflix’s Q2 2023 earnings at $3.24 EPS, Q3 2023 earnings at $3.47 EPS, FY2023 earnings at $12.45 EPS, Q1 2024 earnings at $3.39 EPS, Q2 2024 earnings at $3.77 EPS, Q3 2024 earnings at $3.99 EPS, FY2024 earnings at $14.55 EPS and FY2025 earnings at $16.36 EPS.

Netflix (NASDAQ:NFLX – Get Rating) last posted its quarterly earnings results on Thursday, January 19th. The Internet television network reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.35). The company had revenue of $7.85 billion for the quarter, compared to the consensus estimate of $7.85 billion. Netflix had a net margin of 14.21% and a return on equity of 23.58%. Netflix’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.33 EPS.

NFLX has been the subject of a number of other research reports. KGI Securities upgraded shares of Netflix from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 19th. Piper Sandler increased their target price on shares of Netflix from $270.00 to $325.00 and gave the stock a “neutral” rating in a research report on Friday. The Goldman Sachs Group increased their target price on shares of Netflix from $225.00 to $230.00 and gave the stock a “sell” rating in a research report on Friday. Robert W. Baird increased their target price on shares of Netflix from $275.00 to $325.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, New Street Research initiated coverage on shares of Netflix in a research report on Wednesday, January 4th. They set a “neutral” rating and a $304.00 target price for the company. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $340.84.

Netflix Price Performance

NFLX opened at $342.50 on Monday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market cap of $152.42 billion, a P/E ratio of 34.42, a PEG ratio of 3.78 and a beta of 1.27. Netflix has a fifty-two week low of $162.71 and a fifty-two week high of $458.48. The firm has a 50-day moving average of $304.91 and a 200 day moving average of $260.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Netflix by 1.5% in the third quarter. Vanguard Group Inc. now owns 35,119,551 shares of the Internet television network’s stock worth $8,268,547,000 after purchasing an additional 534,950 shares during the last quarter. State Street Corp boosted its holdings in Netflix by 2.2% in the second quarter. State Street Corp now owns 17,249,083 shares of the Internet television network’s stock valued at $3,016,347,000 after acquiring an additional 364,895 shares in the last quarter. FMR LLC boosted its holdings in Netflix by 4.5% in the second quarter. FMR LLC now owns 16,864,057 shares of the Internet television network’s stock valued at $2,949,018,000 after acquiring an additional 725,384 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Netflix by 21.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 11,405,142 shares of the Internet television network’s stock valued at $2,690,289,000 after acquiring an additional 1,991,099 shares in the last quarter. Finally, Polen Capital Management LLC boosted its holdings in Netflix by 53.9% in the third quarter. Polen Capital Management LLC now owns 7,332,431 shares of the Internet television network’s stock valued at $1,726,348,000 after acquiring an additional 2,569,072 shares in the last quarter. Institutional investors own 77.26% of the company’s stock.

About Netflix

(Get Rating)

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.