Q2 2024 EPS Estimates for Netflix, Inc. Boosted by Analyst (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLX) – Analysts at Seaport Res Ptn boosted their Q2 2024 earnings estimates for Netflix in a research report issued to clients and investors on Sunday, May 19th. Seaport Res Ptn analyst D. Joyce now expects that the Internet television network will earn $4.79 per share for the quarter, up from their previous forecast of $4.71. Seaport Res Ptn 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 FY2024 earnings at $18.74 EPS, Q1 2025 earnings at $5.77 EPS, Q2 2025 earnings at $5.53 EPS, Q3 2025 earnings at $5.25 EPS and Q4 2025 earnings at $4.91 EPS.

A number of other research firms have also issued reports on NFLX. Piper Sandler raised their target price on shares of Netflix from $550.00 to $600.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. Citigroup boosted their price objective on Netflix from $555.00 to $660.00 and gave the stock a “neutral” rating in a research report on Monday, March 25th. Wedbush reaffirmed an “outperform” rating and issued a $725.00 target price on shares of Netflix in a report on Monday. Bank of America upped their price target on Netflix from $650.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Finally, Morgan Stanley increased their price objective on Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a research report on Friday, April 12th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $630.53.

Netflix Trading Down 1.6 %

NASDAQ:NFLX opened at $640.47 on Tuesday. The company’s 50 day moving average is $606.33 and its 200-day moving average is $546.83. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.62. Netflix has a 12 month low of $344.73 and a 12 month high of $650.88. The firm has a market cap of $276.04 billion, a price-to-earnings ratio of 44.45, a P/E/G ratio of 1.55 and a beta of 1.23.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The business 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 29.62% and a net margin of 18.42%. The firm’s revenue was up 14.8% compared to the same quarter last year. During the same period last year, the business earned $2.88 EPS.

Institutional Trading of Netflix

Hedge funds and other institutional investors have recently modified their holdings of the stock. Columbia Trust Co 01012016 raised its position in shares of Netflix by 15.3% during the fourth quarter. Columbia Trust Co 01012016 now owns 1,566 shares of the Internet television network’s stock worth $762,000 after acquiring an additional 208 shares during the last quarter. Crumly & Associates Inc. raised its holdings in Netflix by 4.1% during the 4th quarter. Crumly & Associates Inc. now owns 2,105 shares of the Internet television network’s stock worth $1,025,000 after purchasing an additional 83 shares during the last quarter. Venture Visionary Partners LLC lifted its position in Netflix by 15.4% during the 4th quarter. Venture Visionary Partners LLC now owns 9,849 shares of the Internet television network’s stock valued at $4,795,000 after purchasing an additional 1,318 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Netflix by 142.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 667,597 shares of the Internet television network’s stock valued at $252,085,000 after purchasing an additional 392,427 shares during the last quarter. Finally, Sandy Cove Advisors LLC grew its position in shares of Netflix by 10.6% during the 4th quarter. Sandy Cove Advisors LLC now owns 1,187 shares of the Internet television network’s stock worth $578,000 after buying an additional 114 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Buying and Selling 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Spencer Adam Neumann sold 564 shares of Netflix stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $613.08, for a total value of $345,777.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory K. Peters sold 5,352 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $625.00, for a total transaction of $3,345,000.00. Following the transaction, the chief executive officer now owns 13,090 shares in the company, valued at approximately $8,181,250. The disclosure for this sale can be found here. Insiders have sold a total of 78,039 shares of company stock worth $46,401,083 over the last ninety days. Corporate 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.