Netflix, Inc. (NASDAQ:NFLX – Get Rating) – KeyCorp dropped their Q2 2022 earnings estimates for shares of Netflix in a report released on Sunday, April 10th. KeyCorp analyst J. Patterson now anticipates that the Internet television network will post earnings of $2.49 per share for the quarter, down from their previous estimate of $2.89. KeyCorp has a “Overweight” rating and a $620.00 price objective on the stock. KeyCorp also issued estimates for Netflix’s Q3 2022 earnings at $3.10 EPS.
A number of other research firms have also recently commented on NFLX. Robert W. Baird cut shares of Netflix from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $575.00 to $420.00 in a report on Friday, January 21st. BMO Capital Markets reduced their price target on shares of Netflix from $700.00 to $650.00 and set an “outperform” rating for the company in a report on Friday, January 21st. TheStreet cut shares of Netflix from a “b” rating to a “c+” rating in a report on Thursday, January 20th. Cowen reduced their price target on shares of Netflix from $600.00 to $590.00 in a report on Tuesday. Finally, Wedbush upgraded shares of Netflix from an “underperform” rating to a “neutral” rating and set a $342.00 price target for the company in a report on Wednesday, March 9th. Two analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $539.22.
Netflix (NASDAQ:NFLX – Get Rating) last announced its earnings results on Thursday, January 20th. The Internet television network reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.51. Netflix had a net margin of 17.23% and a return on equity of 35.34%. The business had revenue of $7.71 billion during the quarter, compared to the consensus estimate of $7.71 billion. During the same quarter last year, the firm earned $1.19 earnings per share. Netflix’s quarterly revenue was up 16.0% on a year-over-year basis.
Several hedge funds and other institutional investors have recently bought and sold shares of NFLX. Icapital Wealth LLC bought a new stake in shares of Netflix in the first quarter valued at approximately $25,000. Sageworth Trust Co bought a new stake in shares of Netflix in the fourth quarter valued at approximately $29,000. Andrew Hill Investment Advisors Inc. bought a new stake in shares of Netflix in the fourth quarter valued at approximately $30,000. Field & Main Bank bought a new stake in shares of Netflix in the fourth quarter valued at approximately $30,000. Finally, Paragon Capital Management Ltd bought a new stake in shares of Netflix in the fourth quarter valued at approximately $31,000. 81.37% of the stock is currently owned by institutional investors.
In other Netflix news, CEO Reed Hastings purchased 46,900 shares of the stock in a transaction dated Thursday, January 27th. The shares were bought at an average price of $390.08 per share, with a total value of $18,294,752.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.68% of the company’s stock.
About Netflix (Get Rating)
Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.
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