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

Netflix, Inc. (NASDAQ:NFLX) – Equities research analysts at Seaport Res Ptn cut their Q3 2024 EPS estimates for shares of 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 per share of $4.55 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.

Netflix (NASDAQ:NFLX) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 earnings per share for the quarter, beating the consensus estimate of $4.51 by $0.77. The firm 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 29.62%. The business’s quarterly revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.88 EPS.

Other equities analysts have also issued reports about the stock. Benchmark reaffirmed a “sell” rating and set a $440.00 target price on shares of Netflix in a report on Thursday, April 18th. Redburn Atlantic lifted their target price on shares of Netflix from $550.00 to $610.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. Morgan Stanley lifted their target price on shares of Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Macquarie lifted their price target on shares of Netflix from $595.00 to $685.00 and gave the company an “outperform” rating in a research note on Tuesday, April 16th. Finally, Canaccord Genuity Group reissued a “hold” rating and issued a $585.00 price target (down previously from $720.00) on shares of Netflix in a research note on Friday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-two have issued a buy rating to the company. According to data from MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus target price of $630.58.

Netflix Price Performance

NASDAQ:NFLX opened at $554.60 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.07 and a quick ratio of 1.12. The firm has a market cap of $238.98 billion, a price-to-earnings ratio of 38.49, a price-to-earnings-growth ratio of 1.49 and a beta of 1.22. The company has a 50 day moving average price of $605.58 and a 200-day moving average price of $516.27. Netflix has a 1-year low of $315.62 and a 1-year high of $639.00.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of NFLX. Norges Bank acquired a new position in Netflix in the fourth quarter valued at about $2,558,598,000. Wellington Management Group LLP lifted its position in Netflix by 540.9% in the fourth quarter. Wellington Management Group LLP now owns 3,878,785 shares of the Internet television network’s stock valued at $1,888,503,000 after buying an additional 3,273,592 shares during the last quarter. International Assets Investment Management LLC lifted its position in Netflix by 15,039.1% in the fourth quarter. International Assets Investment Management LLC now owns 2,075,569 shares of the Internet television network’s stock valued at $1,010,553,000 after buying an additional 2,061,859 shares during the last quarter. Jennison Associates LLC lifted its position in 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 buying an additional 1,573,978 shares during the last quarter. Finally, Global Assets Advisory LLC acquired a new position in Netflix in the first quarter valued at about $436,514,000. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insiders Place Their Bets

In other news, Director Jay C. Hoag sold 47,000 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $550.50, for a total transaction of $25,873,500.00. Following the transaction, the director now owns 431,034 shares of the company’s stock, valued at approximately $237,284,217. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Gregory K. Peters sold 13,655 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $543.80, for a total transaction of $7,425,589.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $7,118,342. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jay C. Hoag sold 47,000 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $550.50, for a total transaction of $25,873,500.00. Following the transaction, the director now directly owns 431,034 shares in the company, valued at approximately $237,284,217. The disclosure for this sale can be found here. Insiders have sold a total of 268,335 shares of company stock valued at $151,619,811 in the last 90 days. 2.45% of the stock is owned by insiders.

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.