Netflix, Inc. (NASDAQ:NFLX) Expected to Announce Quarterly Sales of $8.07 Billion

Analysts forecast that Netflix, Inc. (NASDAQ:NFLX – Get Rating) will report sales of $8.07 billion for the current fiscal quarter, Zacks reports. Twelve analysts have made estimates for Netflix’s earnings. The lowest sales estimate is $8.01 billion and the highest is $8.14 billion. Netflix reported sales of $7.34 billion in the same quarter last year, which indicates a positive year over year growth rate of 9.9%. The company is expected to issue its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Netflix will report full-year sales of $32.80 billion for the current fiscal year, with estimates ranging from $32.37 billion to $33.99 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $36.10 billion, with estimates ranging from $34.29 billion to $38.53 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Netflix.

Netflix (NASDAQ:NFLX – Get Rating) last posted its earnings results on Tuesday, April 19th. The Internet television network reported $3.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.90 by $0.63. Netflix had a return on equity of 32.01% and a net margin of 16.47%. The company had revenue of $7.87 billion for the quarter, compared to analyst estimates of $7.94 billion. During the same period last year, the company earned $3.75 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year.

A number of equities analysts have recently commented on NFLX shares. Edward Jones lowered Netflix from a “buy” rating to a “hold” rating in a research note on Thursday, April 21st. Cowen dropped their price objective on Netflix from $590.00 to $325.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 20th. Piper Sandler lowered Netflix from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $562.00 to $293.00 in a research note on Wednesday, April 20th. Cowen dropped their price objective on Netflix from $590.00 to $325.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 20th. Finally, Credit Suisse Group dropped their price objective on Netflix from $450.00 to $350.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 20th. Three investment analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix has an average rating of “Hold” and an average target price of $386.31.

A number of large investors have recently bought and sold shares of the business. Stonebridge Financial Planning Group LLC lifted its holdings in Netflix by 3.2% during the 3rd quarter. Stonebridge Financial Planning Group LLC now owns 614 shares of the Internet television network’s stock worth $423,000 after buying an additional 19 shares in the last quarter. BerganKDV Wealth Management LLC lifted its holdings in Netflix by 4.4% during the 3rd quarter. BerganKDV Wealth Management LLC now owns 449 shares of the Internet television network’s stock worth $274,000 after buying an additional 19 shares in the last quarter. MCF Advisors LLC lifted its holdings in Netflix by 7.2% during the 3rd quarter. MCF Advisors LLC now owns 283 shares of the Internet television network’s stock worth $173,000 after buying an additional 19 shares in the last quarter. Formidable Asset Management LLC lifted its holdings in Netflix by 1.1% during the 3rd quarter. Formidable Asset Management LLC now owns 1,900 shares of the Internet television network’s stock worth $1,160,000 after buying an additional 20 shares in the last quarter. Finally, Avidian Wealth Solutions LLC lifted its holdings in Netflix by 2.8% during the 3rd quarter. Avidian Wealth Solutions LLC now owns 736 shares of the Internet television network’s stock worth $449,000 after buying an additional 20 shares in the last quarter. 80.97% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ NFLX opened at $204.01 on Thursday. Netflix has a fifty-two week low of $185.60 and a fifty-two week high of $700.99. The stock’s 50-day moving average is $329.90 and its two-hundred day moving average is $481.02. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $90.64 billion, a P/E ratio of 18.51, a price-to-earnings-growth ratio of 0.99 and a beta of 1.28.

Netflix Company Profile (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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