Q3 2024 Earnings Forecast for Netflix, Inc. (NASDAQ:NFLX) Issued By Seaport Res Ptn

Netflix, Inc. (NASDAQ:NFLX) – Stock analysts at Seaport Res Ptn decreased their Q3 2024 earnings estimates for Netflix in a research report issued to clients and investors on Friday, April 19th. Seaport Res Ptn analyst D. Joyce now forecasts that the Internet television network will post earnings of $4.55 per share for the quarter, down from their previous estimate of $4.56. Seaport Res Ptn has a “Neutral” rating on the stock. The consensus estimate for Netflix’s current full-year earnings is $17.13 per share. Seaport Res Ptn also issued estimates for Netflix’s Q1 2025 earnings at $5.81 EPS, Q2 2025 earnings at $5.69 EPS, Q3 2025 earnings at $5.48 EPS and FY2025 earnings at $22.18 EPS.

Netflix (NASDAQ:NFLX) last issued its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.88 earnings per share.

Several other research firms have also recently weighed in on NFLX. Needham & Company LLC raised shares of Netflix from a “hold” rating to a “buy” rating and set a $700.00 price objective for the company in a report on Friday. The Goldman Sachs Group boosted their price objective on shares of Netflix from $500.00 to $565.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. StockNews.com raised shares of Netflix from a “hold” rating to a “buy” rating in a report on Monday, February 26th. Evercore ISI boosted their price objective on shares of Netflix from $640.00 to $650.00 and gave the company an “outperform” rating in a report on Friday. Finally, Redburn Atlantic boosted their price objective on shares of Netflix from $550.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $630.58.

Netflix Stock Down 0.1 %

Shares of Netflix stock opened at $554.60 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.07. The stock has a market capitalization of $238.98 billion, a PE ratio of 38.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. Netflix has a 52-week low of $315.62 and a 52-week high of $639.00. The company has a 50-day simple moving average of $605.58 and a two-hundred day simple moving average of $516.27.

Insider Buying and Selling

In related news, insider David A. Hyman sold 47,574 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $17,003,651.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider David A. Hyman sold 47,574 shares of the company’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $537.92, for a total transaction of $25,591,006.08. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $17,003,651.20. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Theodore A. Sarandos sold 68,957 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $561.33, for a total transaction of $38,707,632.81. Following the transaction, the chief executive officer now owns 1,278 shares of the company’s stock, valued at approximately $717,379.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 268,335 shares of company stock worth $151,619,811. 2.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

A number of hedge funds have recently bought and sold shares of the business. Capital World Investors raised its stake 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 in the last quarter. Jennison Associates LLC raised its stake in shares of Netflix by 40.6% in the fourth quarter. Jennison Associates LLC now owns 5,452,271 shares of the Internet television network’s stock valued at $2,654,602,000 after acquiring an additional 1,573,978 shares during the period. Norges Bank purchased a new stake in shares of Netflix in the fourth quarter valued at $2,558,598,000. Northern Trust Corp raised its stake in shares of Netflix by 2.1% in the third quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network’s stock valued at $1,749,712,000 after acquiring an additional 96,938 shares during the period. Finally, Fisher Asset Management LLC raised its stake in shares of Netflix by 1.9% in the fourth quarter. Fisher Asset Management LLC now owns 4,121,104 shares of the Internet television network’s stock valued at $2,006,483,000 after acquiring an additional 78,298 shares during the period. Hedge funds and other institutional investors own 80.93% 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.