Equities Analysts Offer Predictions for Netflix, Inc.’s Q3 2024 Earnings (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLX) – Investment analysts at Seaport Res Ptn dropped their Q3 2024 EPS estimates for shares of Netflix in a report released 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 prior 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.

Several other research firms have also issued reports on NFLX. Robert W. Baird upped their target price on shares of Netflix from $500.00 to $600.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Canaccord Genuity Group lowered shares of Netflix from a “buy” rating to a “hold” rating and reduced their target price for the stock from $720.00 to $585.00 in a research note on Friday. UBS Group upped their target price on shares of Netflix from $570.00 to $685.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Jefferies Financial Group upped their target price on shares of Netflix from $580.00 to $700.00 and gave the stock a “buy” rating in a research note on Tuesday, March 12th. Finally, Needham & Company LLC upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $700.00 target price for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $630.58.

Netflix Stock Performance

Shares of NFLX stock opened at $555.04 on Monday. The firm has a market capitalization of $240.20 billion, a PE ratio of 38.52, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The firm has a fifty day simple moving average of $605.65 and a two-hundred day simple moving average of $514.99. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69. Netflix has a 12 month low of $315.62 and a 12 month high of $639.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion during the quarter, compared to analyst estimates of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.46%. Netflix’s quarterly revenue was up 14.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.88 EPS.

Insider Activity

In other news, Director Ann Mather sold 3,673 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total transaction of $2,203,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Ann Mather sold 3,673 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $600.00, for a total transaction of $2,203,800.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David A. Hyman sold 267 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total value of $148,454.67. Following the sale, the insider now owns 31,610 shares in the company, valued at $17,575,476.10. The disclosure for this sale can be found here. Insiders have sold a total of 268,335 shares of company stock worth $151,619,811 over the last ninety days. Company insiders own 2.45% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. KFA Private Wealth Group LLC increased its position in shares of Netflix by 1.9% in the fourth quarter. KFA Private Wealth Group LLC now owns 958 shares of the Internet television network’s stock worth $466,000 after purchasing an additional 18 shares during the last quarter. Legacy Capital Group California Inc. increased its position in shares of Netflix by 0.6% in the fourth quarter. Legacy Capital Group California Inc. now owns 2,833 shares of the Internet television network’s stock worth $1,379,000 after purchasing an additional 18 shares during the last quarter. Founders Financial Alliance LLC increased its position in shares of Netflix by 2.4% in the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after purchasing an additional 18 shares during the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Netflix by 4.6% in the first quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock worth $250,000 after purchasing an additional 18 shares during the last quarter. Finally, Addison Advisors LLC increased its position in shares of Netflix by 7.8% in the fourth quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock worth $134,000 after purchasing an additional 20 shares during the last quarter. 80.93% of the stock is currently owned by institutional investors.

About Netflix

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.