Netflix (NASDAQ:NFLX) Updates 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.

Netflix Price Performance

NFLX stock opened at $763.89 on Friday. 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 company’s fifty day simple moving average is $696.38 and its 200 day simple moving average is $654.66. Netflix has a 12-month low of $392.26 and a 12-month high of $766.28. The firm 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 (NASDAQ:NFLX) last announced its quarterly earnings data 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 return on equity of 32.93% and a net margin of 19.54%. The company had revenue of $9.56 billion for the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the previous year, the business earned $3.29 EPS. The firm’s revenue was up 16.8% compared to the same quarter last year. On average, analysts expect that Netflix will post 19.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Guggenheim raised their price objective on shares of Netflix from $735.00 to $810.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Wolfe Research restated an “outperform” rating on shares of Netflix in a report on Friday. The Goldman Sachs Group set a $750.00 price target on shares of Netflix in a research note on Friday. Rosenblatt Securities raised their target price on Netflix from $635.00 to $680.00 and gave the company a “neutral” rating in a research note on Friday. Finally, UBS Group upped their price target on Netflix from $750.00 to $825.00 and gave the stock a “buy” rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-six have given a buy rating to the company. According to data from MarketBeat.com, Netflix has an average rating of “Moderate Buy” and an average target price of $739.38.

Insiders Place Their Bets

In related news, Director Leslie J. Kilgore sold 383 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $730.00, for a total transaction of $279,590.00. Following the transaction, the director now owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Chairman Reed Hastings sold 25,599 shares of the stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $631.43, for a total transaction of $16,163,976.57. Following the completion of the sale, the chairman now owns 57 shares of the company’s stock, valued at approximately $35,991.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction that occurred on 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 owns 35,262 shares in the company, valued at $25,741,260. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 225,167 shares of company stock valued at $150,492,460. 1.76% of the stock is currently owned by corporate 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.