Netflix (NASDAQ:NFLX) Issues Q4 Earnings Guidance

Netflix (NASDAQ:NFLX) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $4.23 for the period, compared to the consensus EPS estimate of $3.90. The company issued revenue guidance of $10.128 billion, compared to the consensus revenue estimate of $10.04 billion. Netflix also updated its FY 2024 guidance to EPS.

Analyst Ratings Changes

NFLX has been the topic of several research reports. Macquarie restated an “outperform” rating and set a $795.00 price objective on shares of Netflix in a report on Friday. Needham & Company LLC lifted their target price on Netflix from $700.00 to $800.00 and gave the stock a “buy” rating in a research report on Friday. Morgan Stanley lifted their target price on Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research report on Friday. Argus lifted their target price on Netflix from $660.00 to $767.00 and gave the stock a “buy” rating in a research report on Tuesday, July 2nd. Finally, Rosenblatt Securities lifted their target price on Netflix from $635.00 to $680.00 and gave the stock a “neutral” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, Netflix has a consensus rating of “Moderate Buy” and a consensus price target of $713.24.

Netflix Price Performance

Shares of NFLX stock opened at $687.65 on Friday. The stock has a 50-day moving average price of $693.78 and a 200 day moving average price of $653.62. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. The firm has a market cap of $296.38 billion, a price-to-earnings ratio of 47.72, a PEG ratio of 1.49 and a beta of 1.26. Netflix has a 12 month low of $344.73 and a 12 month high of $736.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, topping analysts’ consensus estimates of $4.74 by $0.14. The firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The company’s revenue was up 16.8% on a year-over-year basis. During the same period last year, the company earned $3.29 earnings per share. Research analysts expect that Netflix will post 19.08 EPS for the current year.

Insider Transactions at Netflix

In other news, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the completion of the transaction, the director now directly owns 35,262 shares in the company, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Leslie J. Kilgore sold 383 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the transaction, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 225,167 shares of company stock worth $150,492,460. 1.76% of the stock is currently owned by company insiders.

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.