Seaport Res Ptn Lowers Earnings Estimates for Netflix

Netflix, Inc. (NASDAQ:NFLX - Free Report) - Stock analysts at Seaport Res Ptn cut their FY2024 EPS estimates for shares of Netflix in a report released on Wednesday, January 15th. Seaport Res Ptn analyst D. Joyce now anticipates that the Internet television network will post earnings of $19.79 per share for the year, down from their previous estimate of $19.81. Seaport Res Ptn currently has a "Strong-Buy" rating on the stock. The consensus estimate for Netflix's current full-year earnings is $19.78 per share. Seaport Res Ptn also issued estimates for Netflix's Q1 2025 earnings at $5.95 EPS, Q3 2025 earnings at $6.64 EPS, Q4 2025 earnings at $5.30 EPS and FY2025 earnings at $23.89 EPS.

Netflix (NASDAQ:NFLX - Get Free Report) last released its quarterly earnings data on Thursday, October 17th. The Internet television network reported $5.40 earnings per share for the quarter, beating the consensus estimate of $5.09 by $0.31. Netflix had a return on equity of 35.86% and a net margin of 20.70%. The company had revenue of $9.82 billion for the quarter, compared to analyst estimates of $9.77 billion.

A number of other research analysts have also recently issued reports on the company. Benchmark lifted their price objective on Netflix from $555.00 to $720.00 and gave the company a "sell" rating in a report on Friday, January 3rd. Piper Sandler boosted their price target on shares of Netflix from $840.00 to $950.00 and gave the company an "overweight" rating in a research report on Tuesday, January 14th. Bank of America raised their price objective on shares of Netflix from $800.00 to $1,000.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. Evercore ISI boosted their target price on Netflix from $775.00 to $950.00 and gave the stock an "outperform" rating in a report on Monday, December 2nd. Finally, Oppenheimer dropped their price target on Netflix from $1,065.00 to $1,040.00 and set an "outperform" rating for the company in a report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $845.06.

Netflix Price Performance

Shares of Netflix stock traded up $15.73 during midday trading on Monday, hitting $858.10. 3,563,913 shares of the company were exchanged, compared to its average volume of 2,297,633. The firm has a 50 day simple moving average of $884.58 and a 200-day simple moving average of $759.58. Netflix has a 52 week low of $476.06 and a 52 week high of $941.75. The firm has a market cap of $366.80 billion, a P/E ratio of 48.56, a PEG ratio of 1.35 and a beta of 1.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.13 and a quick ratio of 1.13.

Insider Activity at Netflix

In other news, Director Richard N. Barton sold 5,698 shares of the company's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $756.00, for a total transaction of $4,307,688.00. Following the sale, the director now owns 246 shares in the company, valued at $185,976. This represents a 95.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Reed Hastings sold 35,868 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $888.08, for a total transaction of $31,853,653.44. Following the completion of the transaction, the chairman now directly owns 114 shares of the company's stock, valued at $101,241.12. This represents a 99.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 152,198 shares of company stock valued at $127,616,898. 1.76% of the stock is owned by insiders.

Institutional Investors Weigh In On Netflix

Several hedge funds have recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Netflix by 2.6% during the 3rd quarter. State Street Corp now owns 16,951,347 shares of the Internet television network's stock worth $12,023,082,000 after acquiring an additional 426,740 shares during the last quarter. Geode Capital Management LLC grew its stake in Netflix by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 9,148,356 shares of the Internet television network's stock valued at $6,464,736,000 after buying an additional 123,029 shares during the last quarter. Jennison Associates LLC lifted its position in Netflix by 4.7% during the third quarter. Jennison Associates LLC now owns 6,990,874 shares of the Internet television network's stock worth $4,958,417,000 after acquiring an additional 316,594 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Netflix by 116,620.0% during the third quarter. International Assets Investment Management LLC now owns 5,753,129 shares of the Internet television network's stock worth $4,080,522,000 after purchasing an additional 5,748,200 shares during the period. Finally, Wellington Management Group LLP increased its position in Netflix by 0.5% during the 3rd quarter. Wellington Management Group LLP now owns 4,897,389 shares of the Internet television network's stock worth $3,473,571,000 after buying an additional 23,702 shares during the period. 80.93% of the stock is currently owned by institutional investors and hedge funds.

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.