Wedbush Weighs in on Netflix’s Q3 Earnings (NASDAQ:NFLX)

Netflix, Inc. (NASDAQ:NFLX) – Stock analysts at Wedbush boosted their Q3 2024 earnings estimates for Netflix in a research note issued to investors on Tuesday, October 15th. Wedbush analyst A. Reese now expects that the Internet television network will earn $5.16 per share for the quarter, up from their prior estimate 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 equities research analysts also recently issued reports about the stock. Loop Capital raised their target price on shares of Netflix from $750.00 to $800.00 and gave the company a “buy” rating in a research note on Wednesday. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $635.00 target price on shares of Netflix in a research note on Friday, September 20th. Bank of America raised their target price on shares of Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Piper Sandler upgraded shares of Netflix from a “neutral” rating to an “overweight” rating and increased their price target for the company from $650.00 to $800.00 in a research report on Monday, October 7th. Finally, Sanford C. Bernstein increased their price target on shares of Netflix from $600.00 to $625.00 and gave the company a “market perform” rating in a research report on Friday, July 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, Netflix presently has an average rating of “Moderate Buy” and a consensus price target of $705.74.

Netflix Trading Down 2.0 %

Shares of NFLX opened at $687.65 on Thursday. The firm’s 50 day simple moving average is $693.78 and its 200 day simple moving average is $653.62. The company has a market capitalization of $296.38 billion, a P/E ratio of 47.72, a P/E/G ratio of 1.49 and a beta of 1.26. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95. Netflix has a 1-year low of $344.73 and a 1-year high of $736.00.

Netflix (NASDAQ:NFLX) last announced its quarterly earnings results on Thursday, July 18th. The Internet television network reported $4.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 19.54% and a return on equity of 32.93%. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.29 earnings per share.

Insider Transactions at Netflix

In other news, Director Leslie J. Kilgore sold 383 shares of Netflix 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 transaction, the director now owns 35,262 shares of the company’s stock, valued at $25,741,260. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Netflix news, Director Leslie J. Kilgore sold 383 shares of the business’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 transaction, the director now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David A. Hyman sold 20,656 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $605.13, for a total value of $12,499,565.28. Following the completion of the transaction, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 225,167 shares of company stock valued at $150,492,460 in the last quarter. 1.76% of the stock is owned by insiders.

Hedge Funds Weigh In On Netflix

A number of hedge funds have recently bought and sold shares of NFLX. Heartland Bank & Trust Co boosted its holdings in shares of Netflix by 0.9% in the second quarter. Heartland Bank & Trust Co now owns 1,770 shares of the Internet television network’s stock worth $1,195,000 after buying an additional 15 shares during the last quarter. Meritas Wealth Management LLC grew its position in shares of Netflix by 2.9% during the 3rd quarter. Meritas Wealth Management LLC now owns 573 shares of the Internet television network’s stock valued at $406,000 after acquiring an additional 16 shares during the period. Stage Harbor Financial LLC increased its stake in shares of Netflix by 4.8% in the 3rd quarter. Stage Harbor Financial LLC now owns 346 shares of the Internet television network’s stock worth $250,000 after purchasing an additional 16 shares in the last quarter. Obermeyer Wood Investment Counsel Lllp raised its holdings in Netflix by 2.8% in the 1st quarter. Obermeyer Wood Investment Counsel Lllp now owns 623 shares of the Internet television network’s stock worth $378,000 after purchasing an additional 17 shares during the period. Finally, Private Portfolio Partners LLC lifted its position in Netflix by 1.7% during the first quarter. Private Portfolio Partners LLC now owns 1,042 shares of the Internet television network’s stock valued at $633,000 after purchasing an additional 17 shares in the last quarter. Hedge funds and other institutional investors 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.