Wedbush Has Positive Forecast for Netflix FY2024 Earnings

Netflix, Inc. (NASDAQ:NFLX) – Research analysts at Wedbush lifted their FY2024 EPS estimates for Netflix in a research note issued on Friday, October 18th. Wedbush analyst A. Reese now anticipates that the Internet television network will post earnings of $19.87 per share for the year, up from their previous forecast of $19.01. Wedbush has a “Overweight” rating and a $775.00 price objective 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 Q1 2025 earnings at $5.88 EPS, Q2 2025 earnings at $5.90 EPS, Q3 2025 earnings at $6.54 EPS, Q1 2026 earnings at $7.04 EPS, Q2 2026 earnings at $6.96 EPS, Q3 2026 earnings at $7.57 EPS and FY2026 earnings at $27.84 EPS.

Other equities research analysts have also issued reports about the stock. Sanford C. Bernstein lifted their price target on shares of Netflix from $625.00 to $780.00 and gave the company a “market perform” rating in a report on Friday. Morgan Stanley boosted their target price on shares of Netflix from $820.00 to $830.00 and gave the stock an “overweight” rating in a research note on Friday. Deutsche Bank Aktiengesellschaft increased their price target on Netflix from $590.00 to $650.00 and gave the company a “hold” rating in a research note on Wednesday, October 9th. StockNews.com raised Netflix from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th. Finally, Citigroup increased their target price on Netflix from $660.00 to $675.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $747.70.

Netflix Stock Performance

Netflix stock opened at $763.89 on Monday. The stock has a market cap of $329.24 billion, a PE ratio of 53.01, a P/E/G ratio of 1.49 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.55. Netflix has a 12-month low of $392.26 and a 12-month high of $766.28. The business’s 50-day moving average price is $696.38 and its two-hundred day moving average price is $655.12.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 earnings per share for the quarter, topping the consensus estimate of $4.74 by $0.14. Netflix had a return on equity of 32.93% and a net margin of 19.54%. The business had revenue of $9.56 billion during the quarter, compared to the consensus estimate of $9.53 billion. During the same period in the prior year, the company earned $3.29 EPS. Netflix’s revenue for the quarter was up 16.8% on a year-over-year basis.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NFLX. GQG Partners LLC acquired a new stake in shares of Netflix in the 1st quarter worth about $1,450,476,000. Jennison Associates LLC increased its holdings in Netflix by 17.0% during the 1st 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 in the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in shares of Netflix in the first quarter worth approximately $372,293,000. Swedbank AB bought a new position in shares of Netflix in the first quarter valued at approximately $216,538,000. Finally, Renaissance Technologies LLC purchased a new position in shares of Netflix during the second quarter valued at approximately $183,365,000. 80.93% of the stock is owned by institutional investors.

Insider Activity at Netflix

In other Netflix news, Director Leslie J. Kilgore sold 383 shares of Netflix stock in a transaction on Thursday, October 10th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CFO Spencer Adam Neumann sold 433 shares of the company’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 transaction of $271,140.27. The sale 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 Netflix 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 completion of the sale, the director now directly owns 35,262 shares of the company’s stock, valued at approximately $25,741,260. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 225,167 shares of company stock worth $150,492,460 in the last quarter. Company insiders own 1.76% of the company’s stock.

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.