Netflix, Inc. (NASDAQ:NFLX) - Analysts at Jefferies Financial Group raised their Q3 2021 EPS estimates for shares of Netflix in a research note issued to investors on Wednesday, July 21st. Jefferies Financial Group analyst A. Uerkwitz now anticipates that the Internet television network will earn $2.67 per share for the quarter, up from their prior forecast of $2.02. Jefferies Financial Group has a "Buy" rating and a $620.00 price objective on the stock. Jefferies Financial Group also issued estimates for Netflix's Q4 2021 earnings at $1.06 EPS, FY2022 earnings at $13.23 EPS, FY2023 earnings at $16.64 EPS and FY2024 earnings at $20.87 EPS. Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Monday, July 19th. The Internet television network reported $2.97 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $3.16 by ($0.19). Netflix had a net margin of 15.92% and a return on equity of 36.49%. The company had revenue of $7.34 billion for the quarter, compared to analysts' expectations of $7.32 billion. During the same period in the prior year, the firm earned $1.59 earnings per share. The firm's quarterly revenue was up 19.4% on a year-over-year basis.
A number of other brokerages have also recently weighed in on NFLX. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $590.00 price target (up from $575.00) on shares of Netflix in a research report on Wednesday, July 21st. Evercore ISI assumed coverage on shares of Netflix in a research report on Tuesday, April 6th. They issued an "outperform" rating and a $665.00 price objective for the company. Oppenheimer reissued a "buy" rating and issued a $620.00 price objective on shares of Netflix in a research report on Wednesday, July 21st. KGI Securities assumed coverage on shares of Netflix in a research report on Tuesday, June 1st. They issued a "neutral" rating for the company. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $700.00 price objective on shares of Netflix in a research report on Thursday, June 24th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twenty-seven have issued a buy rating to the company. The company presently has an average rating of "Buy" and an average price target of $610.23.
Shares of Netflix stock opened at $515.41 on Monday. The business's fifty day simple moving average is $512.02. The company has a current ratio of 1.23, a quick ratio of 1.27 and a debt-to-equity ratio of 1.08. Netflix has a twelve month low of $458.60 and a twelve month high of $593.29. The stock has a market cap of $228.53 billion, a PE ratio of 53.41, a price-to-earnings-growth ratio of 1.60 and a beta of 0.74.
A number of hedge funds have recently added to or reduced their stakes in the business. CHICAGO TRUST Co NA lifted its position in Netflix by 37.5% in the 2nd quarter. CHICAGO TRUST Co NA now owns 2,544 shares of the Internet television network's stock worth $1,344,000 after buying an additional 694 shares in the last quarter. TCW Group Inc. lifted its position in Netflix by 25.4% in the 2nd quarter. TCW Group Inc. now owns 267,374 shares of the Internet television network's stock worth $141,230,000 after buying an additional 54,109 shares in the last quarter. Archford Capital Strategies LLC lifted its position in Netflix by 10.6% in the 2nd quarter. Archford Capital Strategies LLC now owns 844 shares of the Internet television network's stock worth $446,000 after buying an additional 81 shares in the last quarter. Financial Consulate Inc. bought a new position in shares of Netflix during the 2nd quarter valued at $200,000. Finally, Sitrin Capital Management LLC raised its holdings in shares of Netflix by 24.7% during the 2nd quarter. Sitrin Capital Management LLC now owns 12,752 shares of the Internet television network's stock valued at $6,736,000 after purchasing an additional 2,526 shares in the last quarter. Institutional investors own 79.75% of the company's stock.
In related news, Director Jay C. Hoag sold 2,639 shares of the company's stock in a transaction that occurred on Tuesday, May 11th. The shares were sold at an average price of $491.30, for a total value of $1,296,540.70. Following the completion of the sale, the director now owns 1,309 shares in the company, valued at approximately $643,111.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is currently owned by corporate insiders.
Netflix Company Profile
Netflix, Inc operates as a streaming entertainment service company. The firm provides subscription service streaming movies and television episodes over the Internet and sending DVDs by mail. It operates through the following segments: Domestic Streaming, International Streaming and Domestic DVD. The Domestic Streaming segment derives revenues from monthly membership fees for services consisting of streaming content to its members in the United States.
Featured Story: What is net income?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Netflix, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Netflix wasn't on the list.
While Netflix currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here