Q2 2024 EPS Estimates for Netflix, Inc. Raised by Seaport Res Ptn (NASDAQ:NFLX) (2024)

Netflix, Inc. (NASDAQ:NFLX - Free Report) - Equities research analysts at Seaport Res Ptn boosted their Q2 2024 earnings estimates for shares of Netflix in a research note issued on Sunday, May 19th. Seaport Res Ptn analyst D. Joyce now forecasts that the Internet television network will post earnings per share of $4.79 for the quarter, up from their prior forecast of $4.71. Seaport Res Ptn has a "Neutral" rating on the stock. The consensus estimate for Netflix's current full-year earnings is $18.30 per share. Seaport Res Ptn also issued estimates for Netflix's FY2024 earnings at $18.74 EPS, Q1 2025 earnings at $5.77 EPS, Q2 2025 earnings at $5.53 EPS, Q3 2025 earnings at $5.25 EPS and Q4 2025 earnings at $4.91 EPS.

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Other equities research analysts have also recently issued reports about the stock. StockNews.com raised shares of Netflix from a "hold" rating to a "buy" rating in a research report on Monday, February 26th. Benchmark raised their target price on shares of Netflix from $440.00 to $450.00 and gave the stock a "sell" rating in a research report on Friday. Loop Capital lifted their price target on shares of Netflix from $585.00 to $700.00 and gave the company a "buy" rating in a research report on Monday, March 18th. Wells Fargo & Company lifted their price target on shares of Netflix from $650.00 to $726.00 and gave the company an "overweight" rating in a research report on Friday, April 19th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Netflix from $610.00 to $650.00 and gave the company an "overweight" rating in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $630.53.

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Read Our Latest Analysis on Netflix

Netflix Trading Down 0.5 %

NASDAQ:NFLX opened at $637.81 on Tuesday. The company has a 50-day moving average price of $604.92 and a 200-day moving average price of $544.64. Netflix has a 12 month low of $344.73 and a 12 month high of $644.37. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.62. The stock has a market cap of $274.90 billion, a price-to-earnings ratio of 44.47, a P/E/G ratio of 1.50 and a beta of 1.23.

Netflix (NASDAQ:NFLX - Get Free Report) last posted its earnings results on Thursday, April 18th. The Internet television network reported $5.28 EPS for the quarter, topping the consensus estimate of $4.51 by $0.77. Netflix had a net margin of 18.42% and a return on equity of 29.62%. The firm had revenue of $9.37 billion during the quarter, compared to analysts' expectations of $9.28 billion. During the same period last year, the company posted $2.88 EPS. The company's quarterly revenue was up 14.8% compared to the same quarter last year.

Insider Activity at Netflix

In related news, CEO Gregory K. Peters sold 5,821 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $3,492,600.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,854,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Gregory K. Peters sold 5,821 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $3,492,600.00. Following the completion of the sale, the chief executive officer now directly owns 13,090 shares in the company, valued at $7,854,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ann Mather sold 3,673 shares of Netflix stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $600.00, for a total transaction of $2,203,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,039 shares of company stock worth $46,401,083. 1.76% of the stock is owned by company insiders.

Hedge Funds Weigh In On Netflix

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Netflix by 0.4% in the first quarter. Vanguard Group Inc. now owns 36,587,911 shares of the Internet television network's stock worth $22,220,936,000 after buying an additional 149,341 shares in the last quarter. Capital World Investors lifted its holdings in shares of Netflix by 0.7% in the fourth quarter. Capital World Investors now owns 11,744,636 shares of the Internet television network's stock worth $5,718,265,000 after buying an additional 78,320 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of Netflix by 17.0% in the first quarter. Jennison Associates LLC now owns 6,381,464 shares of the Internet television network's stock worth $3,875,655,000 after buying an additional 929,193 shares in the last quarter. Norges Bank purchased a new position in shares of Netflix in the fourth quarter worth $2,558,598,000. Finally, Northern Trust Corp lifted its holdings in shares of Netflix by 2.1% in the third quarter. Northern Trust Corp now owns 4,633,770 shares of the Internet television network's stock worth $1,749,712,000 after buying an additional 96,938 shares in the last quarter. Hedge funds and other institutional investors own 80.93% of the company's stock.

About Netflix

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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.

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