Wedbush Analysts Increase Earnings Estimates for Netflix, Inc. (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLX) – Equities research analysts at Wedbush lifted their Q2 2024 EPS estimates for shares of Netflix in a research report issued to clients and investors on Friday, April 19th. Wedbush analyst A. Reese now forecasts that the Internet television network will post earnings per share of $4.70 for the quarter, up from their prior estimate of $4.37. Wedbush has a “Outperform” rating and a $725.00 price objective on the stock. The consensus estimate for Netflix’s current full-year earnings is $17.13 per share. Wedbush also issued estimates for Netflix’s Q3 2024 earnings at $4.82 EPS, Q4 2024 earnings at $3.71 EPS, Q1 2025 earnings at $5.90 EPS, Q2 2025 earnings at $5.64 EPS, Q3 2025 earnings at $5.76 EPS, Q4 2025 earnings at $4.59 EPS and FY2026 earnings at $25.36 EPS.

Netflix (NASDAQ:NFLX) last issued its quarterly earnings data on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $4.51 by $0.77. The business had revenue of $9.37 billion for the quarter, compared to analysts’ expectations of $9.28 billion. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The business’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the company earned $2.88 EPS.

A number of other research firms have also recently issued reports on NFLX. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Netflix from $525.00 to $550.00 and gave the company a “hold” rating in a research note on Monday, April 15th. TD Cowen raised their price objective on Netflix from $600.00 to $725.00 and gave the company a “buy” rating in a report on Monday, April 8th. Jefferies Financial Group raised their price objective on Netflix from $580.00 to $700.00 and gave the company a “buy” rating in a report on Tuesday, March 12th. Morgan Stanley raised their price objective on Netflix from $600.00 to $700.00 and gave the company an “overweight” rating in a report on Friday, April 12th. Finally, Evercore ISI lifted their price target on Netflix from $640.00 to $650.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and a consensus target price of $630.58.

Netflix Price Performance

Netflix stock opened at $577.75 on Monday. The company’s fifty day moving average price is $606.05 and its 200 day moving average price is $517.65. Netflix has a 1 year low of $315.62 and a 1 year high of $639.00. The stock has a market capitalization of $248.95 billion, a P/E ratio of 40.09, a P/E/G ratio of 1.49 and a beta of 1.22. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.07.

Hedge Funds Weigh In On Netflix

A number of institutional investors have recently modified their holdings of the company. KFA Private Wealth Group LLC raised 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 valued at $466,000 after buying an additional 18 shares during the last quarter. Legacy Capital Group California Inc. grew its stake in Netflix by 0.6% during 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 buying an additional 18 shares during the period. Founders Financial Alliance LLC grew its stake in Netflix by 2.4% during the fourth quarter. Founders Financial Alliance LLC now owns 757 shares of the Internet television network’s stock worth $369,000 after buying an additional 18 shares during the period. Capital Advisors Ltd. LLC grew its stake in Netflix by 4.6% during the first quarter. Capital Advisors Ltd. LLC now owns 411 shares of the Internet television network’s stock worth $250,000 after buying an additional 18 shares during the period. Finally, Addison Advisors LLC grew its stake in Netflix by 7.8% during the fourth quarter. Addison Advisors LLC now owns 276 shares of the Internet television network’s stock worth $134,000 after buying an additional 20 shares during the period. Institutional investors and hedge funds own 80.93% of the company’s stock.

Insider Activity

In other news, CEO Gregory K. Peters sold 5,533 shares of Netflix stock in a transaction dated Friday, January 26th. The shares were sold at an average price of $575.00, for a total value of $3,181,475.00. Following the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at $7,526,750. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Netflix news, insider David A. Hyman sold 267 shares of Netflix stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $556.01, for a total transaction of $148,454.67. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $17,575,476.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory K. Peters sold 5,533 shares of Netflix stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $575.00, for a total transaction of $3,181,475.00. Following the transaction, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $7,526,750. The disclosure for this sale can be found here. Insiders have sold a total of 160,106 shares of company stock valued at $92,729,716 over the last quarter. Corporate insiders own 2.45% of the company’s stock.

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.