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 earnings per share (EPS) guidance of $4.23 for the period, compared to the consensus 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.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Argus raised their price objective on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research report on Tuesday, July 2nd. Wolfe Research restated an “outperform” rating on shares of Netflix in a report on Friday. Evercore ISI lifted their price target on Netflix from $750.00 to $775.00 and gave the stock an “outperform” rating in a research report on Friday. Loop Capital raised their price objective on shares of Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, China Renaissance assumed coverage on shares of Netflix in a research report on Thursday, September 5th. They set a “hold” rating and a $680.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $739.38.

Netflix Stock Performance

NASDAQ:NFLX opened at $763.89 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $329.24 billion, a price-to-earnings ratio of 53.01, a PEG ratio of 1.49 and a beta of 1.26. Netflix has a 1 year low of $392.26 and a 1 year high of $766.28. The stock’s 50 day simple moving average is $696.38 and its two-hundred day simple moving average is $654.66.

Netflix (NASDAQ:NFLX) last released its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. Netflix had a net margin of 19.54% and a return on equity of 32.93%. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same quarter in the prior year, the firm earned $3.29 earnings per share. Netflix’s revenue was up 16.8% on a year-over-year basis. As a group, equities analysts anticipate that Netflix will post 19.08 earnings per share for the current fiscal year.

Insider Activity

In related news, Chairman Reed Hastings sold 25,599 shares of Netflix stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the completion of the transaction, the chairman now owns 57 shares in the company, valued at approximately $35,991.51. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Netflix news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares in the company, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total value of $16,163,976.57. Following the transaction, the chairman now directly owns 57 shares in the company, valued at $35,991.51. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 225,167 shares of company stock worth $150,492,460. 1.76% of the stock is currently owned by corporate 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.