Netflix (NASDAQ:NFLX - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 4.680-4.680 for the period, compared to the consensus EPS estimate of 4.270. The company issued revenue guidance of $9.5 billion-$9.5 billion, compared to the consensus revenue estimate of $9.0 billion. Netflix also updated its FY 2024 guidance to EPS.
Netflix Stock Performance
Shares of NASDAQ NFLX traded down $3.13 during trading on Thursday, hitting $610.56. The company had a trading volume of 8,292,291 shares, compared to its average volume of 4,290,592. The stock has a 50 day simple moving average of $605.77 and a 200 day simple moving average of $511.86. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.12. Netflix has a 12 month low of $315.62 and a 12 month high of $639.00. The firm has a market capitalization of $264.23 billion, a P/E ratio of 50.84, a price-to-earnings-growth ratio of 1.67 and a beta of 1.22.
Netflix (NASDAQ:NFLX - Get Free Report) last posted 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 firm had revenue of $9.37 billion for the quarter, compared to the consensus estimate of $9.28 billion. Netflix had a return on equity of 24.76% and a net margin of 16.04%. The business's revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.88 earnings per share. As a group, analysts anticipate that Netflix will post 17.05 earnings per share for the current year.
Analyst Ratings Changes
Several brokerages recently issued reports on NFLX. Guggenheim lifted their target price on Netflix from $600.00 to $700.00 and gave the company a buy rating in a research note on Tuesday. DZ Bank raised Netflix from a hold rating to a buy rating and set a $600.00 target price on the stock in a research note on Thursday, January 25th. Oppenheimer lifted their target price on Netflix from $615.00 to $725.00 and gave the company an outperform rating in a research note on Monday, March 11th. Piper Sandler lifted their target price on Netflix from $550.00 to $600.00 and gave the company a neutral rating in a research note on Friday, April 12th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Netflix from $525.00 to $550.00 and gave the company a hold rating in a report on Monday. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $614.75.
Check Out Our Latest Stock Analysis on Netflix
Insider Buying and Selling at Netflix
In other Netflix news, CEO Gregory K. Peters sold 13,655 shares of the company's stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total value of $7,425,589.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at approximately $7,118,342. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Netflix news, insider David A. Hyman sold 47,574 shares of the company's stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $537.92, for a total value of $25,591,006.08. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $17,003,651.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory K. Peters sold 13,655 shares of the company's stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $543.80, for a total value of $7,425,589.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company's stock, valued at $7,118,342. The disclosure for this sale can be found here. Insiders have sold 268,335 shares of company stock valued at $151,619,811 in the last quarter. 2.45% of the stock is owned by insiders.
Institutional Investors Weigh In On Netflix
Hedge funds have recently made changes to their positions in the company. Fairfield Bush & CO. lifted its stake in shares of Netflix by 26.5% during the 1st quarter. Fairfield Bush & CO. now owns 2,446 shares of the Internet television network's stock worth $916,000 after purchasing an additional 512 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Netflix by 21.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 480,044 shares of the Internet television network's stock worth $179,820,000 after purchasing an additional 84,179 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Netflix by 14.2% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the Internet television network's stock worth $1,094,000 after purchasing an additional 363 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in Netflix by 6.9% during the 1st quarter. Candriam Luxembourg S.C.A. now owns 36,336 shares of the Internet television network's stock valued at $13,610,000 after buying an additional 2,358 shares in the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in Netflix by 13.1% during the 1st quarter. Brown Brothers Harriman & Co. now owns 3,808 shares of the Internet television network's stock valued at $1,426,000 after buying an additional 441 shares in the last quarter. 80.93% of the stock is currently owned by hedge funds and other institutional investors.
Netflix Company Profile
(
Get Free Report)
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.
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