Q2 2024 EPS Estimates for Netflix, Inc. (NASDAQ:NFLX) Lifted by Wedbush

Netflix, Inc. (NASDAQ:NFLX) – Research analysts at Wedbush increased their Q2 2024 EPS estimates for shares of Netflix in a report issued on Friday, April 19th. Wedbush analyst A. Reese now expects that the Internet television network will post earnings per share of $4.70 for the quarter, up from their prior estimate of $4.37. Wedbush currently has a “Outperform” rating and a $725.00 target price 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.

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

Several other research firms have also weighed in on NFLX. Needham & Company LLC raised Netflix from a “hold” rating to a “buy” rating and set a $700.00 price objective on the stock in a research note on Friday, April 19th. Citigroup raised their target price 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. Evercore ISI upped their price target on shares of Netflix from $640.00 to $650.00 and gave the stock an “outperform” rating in a research report on Friday, April 19th. UBS Group raised their price objective on Netflix from $570.00 to $685.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. Finally, TD Cowen upped their target price on Netflix from $600.00 to $725.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $630.58.

Netflix Stock Performance

NASDAQ:NFLX opened at $577.75 on Monday. Netflix has a fifty-two week low of $315.62 and a fifty-two week high of $639.00. The firm’s 50 day moving average is $606.05 and its two-hundred day moving average is $517.65. The company has a market cap of $248.95 billion, a P/E ratio of 40.09, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a quick ratio of 1.12, a current ratio of 1.07 and a debt-to-equity ratio of 0.62.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Norges Bank acquired a new position in shares of Netflix during the 4th quarter valued at $2,558,598,000. Wellington Management Group LLP grew its holdings in Netflix by 540.9% during the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock worth $1,888,503,000 after acquiring an additional 3,273,592 shares during the period. International Assets Investment Management LLC grew its holdings in Netflix by 15,039.1% during the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock worth $1,010,553,000 after acquiring an additional 2,061,859 shares during the period. Jennison Associates LLC raised its position in Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock worth $2,654,602,000 after acquiring an additional 1,573,978 shares in the last quarter. Finally, Global Assets Advisory LLC bought a new position in shares of Netflix during the 1st quarter valued at about $436,514,000. 80.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

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 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 directly owns 1,278 shares in the company, valued at $717,379.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Netflix news, CEO Theodore A. Sarandos sold 68,957 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 1,278 shares of the company’s stock, valued at $717,379.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory K. Peters sold 5,533 shares of Netflix stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $575.00, for a total transaction of $3,181,475.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares in the company, valued at $7,526,750. The disclosure for this sale can be found here. Insiders have sold a total of 160,106 shares of company stock worth $92,729,716 over the last quarter. 2.45% of the stock is owned by company insiders.

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.