Netflix (NASDAQ:NFLX) Releases 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.

Netflix Trading Down 2.0 %

Shares of NASDAQ NFLX opened at $687.65 on Friday. The company has a market cap of $296.38 billion, a price-to-earnings ratio of 47.72, a price-to-earnings-growth ratio of 1.49 and a beta of 1.26. Netflix has a 12-month low of $344.73 and a 12-month high of $736.00. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55. The stock’s 50 day simple moving average is $693.78 and its 200 day simple moving average is $653.62.

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

Analysts Set New Price Targets

Several analysts have weighed in on NFLX shares. Pivotal Research lifted their target price on Netflix from $900.00 to $925.00 and gave the company a “buy” rating in a research note on Friday. China Renaissance started coverage on Netflix in a research note on Thursday, September 5th. They set a “hold” rating and a $680.00 target price on the stock. Guggenheim lifted their target price on Netflix from $735.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Needham & Company LLC lifted their price target on Netflix from $700.00 to $800.00 and gave the company a “buy” rating in a research report on Friday. Finally, Oppenheimer lifted their price target on Netflix from $775.00 to $825.00 and gave the company an “outperform” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $713.24.

Insider Transactions at Netflix

In related news, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $626.19, for a total value of $271,140.27. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Spencer Adam Neumann sold 433 shares of the company’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $626.19, for a total transaction of $271,140.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the transaction, the insider now owns 31,610 shares in the company, valued at $19,128,159.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 225,167 shares of company stock worth $150,492,460. 1.76% of the stock is 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.