Seaport Res Ptn Equities Analysts Increase Earnings Estimates for Netflix, Inc. (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLX) – Investment analysts at Seaport Res Ptn raised their Q3 2024 earnings per share (EPS) estimates for shares of Netflix in a research report issued to clients and investors on Sunday, May 19th. Seaport Res Ptn analyst D. Joyce now anticipates that the Internet television network will post earnings per share of $4.59 for the quarter, up from their previous estimate of $4.55. Seaport Res Ptn currently has a “Neutral” rating on the stock. The consensus estimate for Netflix’s current full-year earnings is $18.31 per share. Seaport Res Ptn also issued estimates for Netflix’s Q4 2024 earnings at $4.09 EPS and FY2025 earnings at $21.45 EPS.

A number of other equities analysts also recently commented on the company. Robert W. Baird increased their price objective on Netflix from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Bank of America lifted their target price on shares of Netflix from $650.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, April 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Netflix from $525.00 to $550.00 and gave the company a “hold” rating in a report on Monday, April 15th. Citigroup raised their price objective on shares of Netflix from $555.00 to $660.00 and gave the company a “neutral” rating in a research note on Monday, March 25th. Finally, UBS Group lifted their price target on shares of Netflix from $570.00 to $685.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $630.53.

Netflix Stock Performance

Shares of NASDAQ NFLX opened at $650.61 on Wednesday. The stock’s fifty day simple moving average is $605.71 and its 200 day simple moving average is $546.17. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $280.41 billion, a price-to-earnings ratio of 45.15, a PEG ratio of 1.55 and a beta of 1.23. Netflix has a 52-week low of $344.73 and a 52-week high of $650.88.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The firm had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. Netflix’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company posted $2.88 earnings per share.

Hedge Funds Weigh In On Netflix

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Netflix by 0.4% in the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network’s stock worth $22,220,936,000 after acquiring an additional 149,341 shares in the last quarter. Capital World Investors raised its stake in Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network’s stock valued at $5,718,265,000 after purchasing an additional 78,320 shares in the last quarter. Jennison Associates LLC boosted its position in shares of Netflix by 17.0% during the 1st quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network’s stock worth $3,875,655,000 after acquiring an additional 929,193 shares in the last quarter. Norges Bank acquired a new position in shares of Netflix during the 4th quarter worth $2,558,598,000. Finally, Northern Trust Corp lifted its holdings in shares of Netflix by 2.1% in the third quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock worth $1,749,712,000 after acquiring an additional 96,938 shares during the last quarter. Institutional investors own 80.93% of the company’s stock.

Insiders Place Their Bets

In other Netflix news, CEO Gregory K. Peters sold 5,821 shares of Netflix stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $3,492,600.00. Following the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,854,000. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Gregory K. Peters sold 5,821 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total value of $3,492,600.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,854,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory K. Peters sold 5,352 shares of Netflix stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $625.00, for a total value of $3,345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 13,090 shares in the company, valued at $8,181,250. The disclosure for this sale can be found here. Insiders have sold 78,039 shares of company stock valued at $46,401,083 over the last three months. Company insiders own 1.76% of the company’s stock.

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.