FY2024 Earnings Forecast for Netflix Issued By William Blair

Netflix, Inc. (NASDAQ:NFLX) – William Blair increased their FY2024 earnings per share (EPS) estimates for Netflix in a research report issued to clients and investors on Friday, October 18th. William Blair analyst R. Schackart now expects that the Internet television network will earn $19.67 per share for the year, up from their previous forecast of $19.02. The consensus estimate for Netflix’s current full-year earnings is $19.08 per share. William Blair also issued estimates for Netflix’s Q1 2025 earnings at $5.94 EPS, Q2 2025 earnings at $5.93 EPS, Q3 2025 earnings at $6.19 EPS, FY2025 earnings at $23.05 EPS and FY2026 earnings at $27.47 EPS.

A number of other brokerages have also recently weighed in on NFLX. China Renaissance started coverage on shares of Netflix in a report on Thursday, September 5th. They issued a “hold” rating and a $680.00 price objective on the stock. Pivotal Research boosted their price target on Netflix from $900.00 to $925.00 and gave the stock a “buy” rating in a research report on Friday. Guggenheim raised their price objective on Netflix from $735.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Oppenheimer boosted their target price on Netflix from $775.00 to $825.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Piper Sandler reissued an “overweight” rating and issued a $840.00 target price (up from $800.00) on shares of Netflix in a research note on Friday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $747.70.

Netflix Stock Up 1.1 %

Shares of Netflix stock opened at $772.07 on Monday. Netflix has a 1 year low of $395.62 and a 1 year high of $773.00. The firm has a market cap of $332.76 billion, a price-to-earnings ratio of 53.58, a PEG ratio of 1.49 and a beta of 1.26. The company has a 50-day moving average of $699.16 and a 200 day moving average of $656.21. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.95 and a quick ratio of 0.95.

Institutional Trading of Netflix

Institutional investors and hedge funds have recently modified their holdings of the company. GQG Partners LLC bought a new stake in Netflix in the 1st quarter valued at $1,450,476,000. Jennison Associates LLC grew its position 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 valued at $3,875,655,000 after purchasing an additional 929,193 shares in the last quarter. Jericho Capital Asset Management L.P. bought a new stake in shares of Netflix in the first quarter worth about $372,293,000. Swedbank AB purchased a new stake in shares of Netflix in the first quarter worth about $216,538,000. Finally, Renaissance Technologies LLC bought a new position in Netflix during the second quarter valued at approximately $183,365,000. 80.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Netflix news, insider David A. Hyman sold 20,656 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the completion of the sale, the insider now directly owns 31,610 shares of the company’s stock, valued at approximately $19,128,159.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Netflix news, CFO Spencer Adam Neumann sold 433 shares of the firm’s stock in a transaction that occurred 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 legal filing with the SEC, which is accessible through this hyperlink. Also, insider David A. Hyman sold 20,656 shares of Netflix stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $605.13, for a total transaction of $12,499,565.28. Following the transaction, the insider now directly owns 31,610 shares in the company, valued at $19,128,159.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 229,711 shares of company stock valued at $153,905,830. 1.76% of the stock is owned by 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.