Q2 2024 EPS Estimates for Netflix, Inc. Increased by Analyst (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLX) – Equities researchers at Wedbush increased their Q2 2024 EPS estimates for Netflix in a report issued on Friday, April 19th. Wedbush analyst A. Reese now expects that the Internet television network will post earnings of $4.70 per share for the quarter, up from their prior estimate of $4.37. Wedbush currently has a “Outperform” rating and a $725.00 price objective on the stock. The consensus estimate for Netflix’s current full-year earnings is $17.13 per share. Wedbush also issued estimates for Netflix’s Q3 2024 earnings at $4.82 EPS, Q4 2024 earnings at $3.71 EPS, Q1 2025 earnings at $5.90 EPS, Q2 2025 earnings at $5.64 EPS, Q3 2025 earnings at $5.76 EPS, Q4 2025 earnings at $4.59 EPS and FY2026 earnings at $25.36 EPS.

NFLX has been the topic of several other research reports. JPMorgan Chase & Co. lifted their price target on shares of Netflix from $610.00 to $650.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Loop Capital lifted their target price on shares of Netflix from $585.00 to $700.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Canaccord Genuity Group downgraded shares of Netflix from a “buy” rating to a “hold” rating and decreased their price target for the stock from $720.00 to $585.00 in a research note on Friday. Pivotal Research raised their price objective on shares of Netflix from $765.00 to $800.00 and gave the stock a “buy” rating in a report on Friday. Finally, Rosenblatt Securities reduced their target price on Netflix from $554.00 to $540.00 and set a “neutral” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $630.58.

Netflix Price Performance

NFLX opened at $554.60 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.07. The stock has a market capitalization of $238.98 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The stock’s 50 day moving average price is $605.58 and its 200-day moving average price is $516.27. Netflix has a 52-week low of $315.62 and a 52-week high of $639.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. Netflix had a return on equity of 29.62% and a net margin of 18.42%. The company had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. During the same quarter in the previous year, the business earned $2.88 EPS. Netflix’s revenue was up 14.8% compared to the same quarter last year.

Insider Activity at Netflix

In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the transaction, the chief executive officer now owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of Netflix stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $561.33, for a total value of $38,707,632.81. Following the completion of the sale, the chief executive officer now owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jay C. Hoag sold 47,000 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $550.50, for a total transaction of $25,873,500.00. Following the sale, the director now owns 431,034 shares of the company’s stock, valued at $237,284,217. The disclosure for this sale can be found here. Insiders have sold 268,335 shares of company stock valued at $151,619,811 over the last ninety days. Insiders own 2.45% of the company’s stock.

Institutional Investors Weigh In On Netflix

A number of large investors have recently made changes to their positions in the company. Columbia Trust Co 01012016 increased its holdings in Netflix by 15.3% during the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock valued at $762,000 after buying an additional 208 shares during the last quarter. Crumly & Associates Inc. increased its stake in shares of Netflix by 4.1% in the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after purchasing an additional 83 shares in the last quarter. Venture Visionary Partners LLC raised its holdings in Netflix by 15.4% in the 4th quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock worth $4,795,000 after purchasing an additional 1,318 shares during the period. Assenagon Asset Management S.A. lifted its position in Netflix by 142.6% during the third quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock valued at $252,085,000 after purchasing an additional 392,427 shares in the last quarter. Finally, Sandy Cove Advisors LLC grew its holdings in Netflix by 10.6% during the fourth quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock valued at $578,000 after purchasing an additional 114 shares during the period. 80.93% of the stock is currently owned by institutional investors.

Netflix Company Profile

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