Wedbush Brokers Increase Earnings Estimates for Netflix

Netflix, Inc. (NASDAQ:NFLX) – Investment analysts at Wedbush increased their Q3 2024 earnings estimates for shares of Netflix in a note issued to investors on Tuesday, October 15th. Wedbush analyst A. Reese now expects that the Internet television network will post earnings per share of $5.16 for the quarter, up from their previous forecast of $5.15. Wedbush currently has a “Overweight” rating and a $775.00 target price on the stock. The consensus estimate for Netflix’s current full-year earnings is $19.08 per share. Wedbush also issued estimates for Netflix’s Q3 2025 earnings at $6.07 EPS and Q3 2026 earnings at $7.13 EPS.

Other research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft upped their price target on Netflix from $590.00 to $650.00 and gave the stock a “hold” rating in a research note on Wednesday, October 9th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $635.00 price objective on shares of Netflix in a report on Friday, September 20th. KeyCorp upped their price objective on Netflix from $735.00 to $760.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Morgan Stanley increased their price target on Netflix from $780.00 to $820.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Finally, Sanford C. Bernstein increased their price target on Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a report on Friday, July 19th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Netflix currently has a consensus rating of “Moderate Buy” and an average price target of $705.74.

Netflix Stock Down 2.0 %

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

Netflix (NASDAQ:NFLX) last released its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping 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 firm had revenue of $9.56 billion during the quarter, compared to analyst estimates of $9.53 billion. During the same quarter in the prior year, the company posted $3.29 earnings per share. The business’s quarterly revenue was up 16.8% compared to the same quarter last year.

Insider Transactions at Netflix

In related news, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total transaction of $279,590.00. Following the sale, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction dated 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Leslie J. Kilgore sold 383 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $730.00, for a total value of $279,590.00. Following the completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 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.

Institutional Investors Weigh In On Netflix

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Netflix by 0.4% during 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 purchasing an additional 149,341 shares during the period. Jennison Associates LLC lifted its holdings in shares of Netflix by 17.0% during 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 purchasing an additional 929,193 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Netflix by 2.3% during the second quarter. Baillie Gifford & Co. now owns 4,762,069 shares of the Internet television network’s stock worth $3,213,825,000 after purchasing an additional 106,756 shares during the period. Legal & General Group Plc lifted its holdings in shares of Netflix by 3.1% during the second quarter. Legal & General Group Plc now owns 3,449,114 shares of the Internet television network’s stock worth $2,327,738,000 after purchasing an additional 104,332 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Netflix by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 3,281,306 shares of the Internet television network’s stock valued at $2,214,488,000 after acquiring an additional 83,762 shares during the period. Institutional investors and hedge funds own 80.93% 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.