Q3 2024 EPS Estimates for Netflix, Inc. (NASDAQ:NFLX) Lifted by Seaport Res Ptn

Netflix, Inc. (NASDAQ:NFLX - Free Report) - Research analysts at Seaport Res Ptn boosted their Q3 2024 earnings per share estimates for shares of Netflix in a report released on Sunday, May 19th. Seaport Res Ptn analyst D. Joyce now expects that the Internet television network will earn $4.59 per share for the quarter, up from their previous forecast 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.

Netflix (NASDAQ:NFLX - Get Free Report) last announced its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. The company had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The company's quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.88 EPS.

Several other equities analysts have also weighed in on the stock. Bank of America upped their price objective on shares of Netflix from $650.00 to $700.00 and gave the company a "buy" rating in a report on Friday, April 19th. Benchmark upped their price target on Netflix from $440.00 to $450.00 and gave the stock a "sell" rating in a research note on Friday, May 17th. Macquarie raised their price objective on Netflix from $595.00 to $685.00 and gave the company an "outperform" rating in a research note on Tuesday, April 16th. Oppenheimer reaffirmed an "outperform" rating and set a $725.00 target price on shares of Netflix in a research report on Friday, April 19th. Finally, Barclays increased their target price on Netflix from $475.00 to $550.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $630.53.

Netflix Stock Down 1.6 %

NASDAQ NFLX traded down $10.14 on Wednesday, hitting $640.47. 2,171,342 shares of the company were exchanged, compared to its average volume of 4,273,051. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The company has a market cap of $276.04 billion, a PE ratio of 44.45, a PEG ratio of 1.55 and a beta of 1.23. The stock has a fifty day moving average of $606.33 and a 200-day moving average of $546.83. Netflix has a 12 month low of $344.73 and a 12 month high of $650.88.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Netflix by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network's stock valued at $22,220,936,000 after acquiring an additional 149,341 shares during the last quarter. Capital World Investors lifted its position in Netflix by 0.7% during 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 during the last quarter. Jennison Associates LLC lifted its position in Netflix by 17.0% during the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network's stock valued at $3,875,655,000 after purchasing an additional 929,193 shares during the last quarter. Norges Bank purchased a new position in Netflix in the 4th quarter worth approximately $2,558,598,000. Finally, Northern Trust Corp increased its holdings in shares of Netflix by 2.1% in the 3rd quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network's stock worth $1,749,712,000 after buying an additional 96,938 shares during the last quarter. 80.93% of the stock is owned by institutional investors.

Insider Activity at Netflix

In other news, CFO Spencer Adam Neumann sold 564 shares of the firm's stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total transaction of $345,777.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Gregory K. Peters sold 5,821 shares of the business's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total value of $3,492,600.00. Following the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,854,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Spencer Adam Neumann sold 564 shares of the business's stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $613.08, for a total transaction of $345,777.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,039 shares of company stock worth $46,401,083. 1.76% 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.